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The Nordex Group has announced that it generated sales of € 398.9 million in the first quarter of 2019 (Q1 2018: € 487.9 million). Earnings before interest, taxes, depreciation and amortization (EBITDA) amounted to € 3.3 million (Q1 2018: € 20.0 million), resulting in an EBITDA margin of 0.8% (Q1 2018: 4.1%). Lower construction figures and, as a result, a decrease in sales in the Projects segment are attributable to the installation schedules of customer projects.
In the first three months of 2019, the Nordex Group installed a total of 84 wind turbines in nine countries with a combined output of 260.9 MW (Q1 2018: 522.9 MW), with Europe accounting for around 36% and Latin America for 64% of installations. As a result of lower installation figures, sales in the Projects segment fell by 24% to € 312.3 million in the reporting period (Q1 2018: € 409.6 million). By contrast, sales in the Service segment continued to grow, rising by eleven% from € 78.8 million to € 87.4 million.
In the first quarter of 2019, the Nordex Group received orders for 1,035.1MW worth € 810.2 million in the Projects segment (excluding services) (Q1 2018: 1,007.5MW). Of this order intake, 41% related to Europe, 44% to Latin America and 15% to the rest of the world.
The Nordex Group confirms its 2019 guidance and expects to generate consolidated sales of € 3.2 to € 3.5 billion, an EBITDA margin of between 3.0 and 5.0%. The Group plans to make investments of € 120 million – a figure which will ultimately depend on the momentum of orders received for new products in the further course of the year.
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