The Nordex Group performed in line with its expectations in the first quarter of 2017. Sales amounted to € 648.4 million (Q1/2016: € 637 million). The service business rose by 57 per cent to € 74 million (Q1/2016: € 47.1 million).
Earnings before interest, taxes, depreciation and amortization (EBITDA) amounted to € 51.2 million and an operating margin of 7.9 per cent. The transition to auction based mechanism, in the core European markets, caused group order intake to drop to € 333 million (Q1/2016: € 541 million). As of the reporting date, Nordex had an order backlog of € 3.8 billion (incl. Service). sales are expected to lie within the range of € 3.1 to 3.3 billion, accompanied by an EBITDA margin of between 7.8 and 8.2 per cent.
