- Published: 14 November 2017 14 November 2017
The management board of the Nordex Group is convinced that the level of demand on the European core markets will remain weak in 2018 and has decided to reduce its structural costs in the European Division by € 45 million. The associated job cuts are already at the preparatory stage. In the past nine months of 2017 financial year, the Nordex Group generated € 2,319.5 million in sales (9M/2016: € 2,339.5 million). In the third quarter the Group generated € 818.3 million in sales (Q3/2016: € 855.5 million).
The service division increased its sales by 21 per cent, to € 227.5 million. In addition, the production output increased owing to short-term supply commitments. Turbine assembly performance was up by 26 per cent, to 2,452MW; in the rotor blades segment, the number of units produced increased by 30 per cent, to 626 rotor blades. Earnings before interest, taxes, depreciation and amortisation amounted to € 181.9 million (9M/2016: € 203.9 million), corresponding to an EBITDA margin of 7.8 per cent (9M/2016: 8.7%). In the third quarter the operating result came to € 64.4 million (Q3/2016: € 67.3 million), equivalent to an EBITDA margin of 7.9 per cent. The order intake in the third quarter fell below expectations. New business in the past nine months of 2017, at € 1,108 million (9M/2016: € 2,169 million) was down year-on-year. The main reasons for this decline included changed statutory parameters with a negative impact on project lead times and, therefore, on contract awards. This applies in particular to the public tender system that entered into force in Germany in 2017. For the 2017 financial year, Nordex expects sales slightly below € 3.1 billion and an EBITDA margin of 7.8 to 8.2 per cent.