The Nordex Group has reported a 29.7% increase in sales to €1.25bn in the first quarter of this year, up from €964.6m in the first quarter of last year.

The company’s earnings before interest, taxes, depreciation and amortisation (EBITDA) stood at €10.4m for the quarter, slightly down from €13.1m in the prior-year quarter.

The EBITDA margin in the quarter contracted compared to the same quarter of last year, which had not been affected by the Covid-19 pandemic.

Nordex Group José Luis Blanco said: “We are encountering continued good demand for our efficient Delta4000 platform, which we are successfully marketing as a global product.

“Overall, we remain confident for the year and expect a positive development of the business performance, while also recognising higher uncertainties resulting from the ongoing pandemic situation and general inflationary pressures across commodities.”

During the first quarter of this year, the company installed 356 wind turbines in 20 countries with a total capacity of 1,400MW. This is an increase from 269 wind turbines installed in 21 countries in the previous year, with a total capacity of 899MW.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The company produced 304 turbines, with a rated capacity of just under 1,300MW, in the quarter. In the first quarter of last year, it produced 448 turbines, with 1,641MW rated capacity.

The number of rotor blades produced in the quarter increased by 19.3% to 383 units, compared to 321 produced in the previous year.

As of 31 March, the company’s total assets decreased slightly by 3% to €4.3bn compared to the end of last year.

Nordex forecasts an EBITDA margin of between 4% and 5.5% for this year, based on expected revenues of between €4.7bn and €5.2bn.

In the short term, the company’s target is to achieve sales of almost €5bn.

Last March, Nordex secured a 400MW wind turbine supply order from Norway.

The company was contracted to deploy 72 N149/5.X turbines at the Øyfjellet wind farm, located near Mosjøen in the municipality of Vefsn.