With the publication of its annual financial statements, the Nordex Group has confirmed the preliminary figures for 2010. According to these, the company largely met its expectations with respect to its business performance.
After a strong final quarter, total revenues rose to € 1,008 million (2009: € 1,144 million). The EBIT margin widened to 4.0% in 2010 (2009: 3.5%). Cash flow from operating activities doubled over the previous year, rising to € 20.3 million in 2010 (2009: € 9.6 million). New orders rose by 14% in 2010 to € 836 million (2009: € 737 million). The company assumes that this trend will continue this year with a cyclical pattern emerging as the year progresses. The company forecasts a 20 per cent increase in order intake in 2011, equivalent to new orders worth around € 1 billion. The company expects unchanged revenues for the year. This is materially due to the assumption that order intake will pick up in the second half of 2011 in particular. From 2012 onwards, the company expects the signs of growth which are already becoming visible to be reflected in sales and earnings. This is based on positive expectations for its core markets in Europe and the US as well as the start of serial production of new onshore products in these regions.
After a strong final quarter, total revenues rose to € 1,008 million (2009: € 1,144 million). The EBIT margin widened to 4.0% in 2010 (2009: 3.5%). Cash flow from operating activities doubled over the previous year, rising to € 20.3 million in 2010 (2009: € 9.6 million). New orders rose by 14% in 2010 to € 836 million (2009: € 737 million). The company assumes that this trend will continue this year with a cyclical pattern emerging as the year progresses. The company forecasts a 20 per cent increase in order intake in 2011, equivalent to new orders worth around € 1 billion. The company expects unchanged revenues for the year. This is materially due to the assumption that order intake will pick up in the second half of 2011 in particular. From 2012 onwards, the company expects the signs of growth which are already becoming visible to be reflected in sales and earnings. This is based on positive expectations for its core markets in Europe and the US as well as the start of serial production of new onshore products in these regions.
