Nordex Presents First Quarter Figures

German turbine manufacturer Nordex confirms 2017 guidance and wants to further invest in its own technology

Official Press Release Nordex:

Nordex first quarter 2017 figures in line with budget

Wind Industry Profile of

Sales of EUR 648.4 million achieved / Strong growth in service business / EBITDA margin of 7.9% / 2017 guidance confirmed

The Nordex Group (ISIN: DE000A0D6554) performed in line with its expectations in the first quarter of 2017. Sales amounted to EUR 648.4 million (Q1/2016: EUR 637 million). The service business rose substantially by 57 percent to EUR 74 million (Q1/2016: EUR 47.1 million). The proportion of sales generated in America, where the group has a larger footprint following the merger with Acciona Windpower, increased in particular. Earnings before interest, taxes, depreciation and amortization (EBITDA) amounted to EUR 51.2 million. At 7.9 percent, the operating margin was within the target corridor, chiefly underpinned by an increased gross margin of 29... ... More: Official Press Release Nordex