Wind turbine-maker Nordex saw losses widen in the first quarter as “old projects with a poor cost structure” continued to weigh on the German group.

Nordex posted a net loss of €214.8m for the first three months of the year, against a €150.5m deficit at the same stage in 2022.

Operating profit (Ebitda) was a negative €114.9m with a margin of -9.4%.

The manufacturer said it was continuing to feel the pinch from the pressures that have left all European wind OEMs in the red, but could see signs of improvements down the line.