- Published: 15 May 2018 15 May 2018
The Nordex Group has announced that it generated sales of € 487.9 million in the first three months of 2018 (Q1 2017: € 648.4 million). Earnings before interest, taxes, depreciation and amortisation (EBITDA) totalled € 20.0 million (Q1 2017: € 51.2 million), resulting in an EBITDA margin of 4.1% (Q1 2017: 7.9%). This development is mainly due to low order intake from Germany in the last financial year 2017.
In the Service segment, Nordex increased sales by eight% from € 72.8 million to € 78.8 million. Sales in the projects segment fell by 29% to € 409.6 million during the period under review (Q1 2017: € 578.5 million). In the first quarter of 2018, Nordex installed 171 wind turbines in eight countries with a capacity of 522.9MW (Q1 2017: 415.6MW). Latin America accounted for around half of this installed capacity. Production output was comparatively low in the first quarter. Turbine assembly output totalled 347MW of turbines after 704MW in the prior-year quarter, while the company produced 180 rotor blades after 209 units in the same period last year. The Nordex Group generated order intake of 1,007.5MW in the projects segment (excluding service) during the first quarter of 2018 (Q1 2017: 367.5MW). Demand in Europe recovered to 521.5MW (Q1 2017: 109.2MW), as did the business in America at 486.0MW (Q1 2017: 258.3MW). The strongest individual markets in Europe were Turkey, France and Sweden, while in America it was Mexico, Chile and the USA. The company expects to generate consolidated sales of € 2.4 to 2.6 billion and an EBITDA margin of between 4.0 and 5.0%.