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Windtech International July August 2024 issue

 

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The Nordex Group’s sales increased to around EUR 2.8 billion (H1/2022: EUR 2.1 billion). Total performance, which also includes changes in inventories, increased by 26 percent to EUR 2.8 billion (H1/2022: EUR 2.2 billion).
 
Earnings before interest, taxes, depreciation, and amortization (EBITDA) reached breakeven in the second quarter with EUR 0.6 million totalling to minus EUR 114.3 million in the first half 2023 (H1/2022: minus EUR 173.3 million). As a result, H1 EBITDA margin improved to minus 4.2 percent (H1/2022: minus 8.1 percent).
 
In the first six months of 2023 the order intake of the Nordex Group in the Projects segment (i.e., excluding services) was 2.6 GW (H1/2022: 3.0 GW) and corresponds to new orders worth EUR 2,354 million being on the same level as in the previous year (H1/2022: EUR 2,357 million). This order intake is attributed to 16 European Countries. At the end of the first half of the year, the Nordex Group’s order book increased slightly to EUR 9.8 billion (H1 2022: EUR 9.7 billion), consisting of EUR 6.4 billion (H1 2022: EUR 6.7 billion) in the Projects segment and EUR 3.4 billion (H1 2022: EUR 3.1 billion) in the Service segment.
 
In the first half of 2023, production in turbine assembly reached 2,886 MW, just below the previous year's volume of 2,935 MW. The number of rotor blades produced rose to 2,224 (H1/2022: 2,162), of which the Company itself produced 506 (H1/2022: 573) while 1,718 rotor blades were sourced from external suppliers (H1/2022: 1, 589).
 
The Nordex Group installed 632 wind turbines in 22 countries with a total output of 3.1 GW in the first six months of 2023 (H1 2022: 416 wind turbines in 16 countries with a total output of 1.9 GW). Of the installations carried out in the period under review (in MW), 60 percent were attributable to Europe, 25 percent to Latin America, 8 percent to North America, and 7 percent to the region “Rest of the world”. Sales in the Projects segment rose to EUR 2.5 billion from EUR 1.9 billion in the first half of the year. Sales in the Service segment rose by 35 percent to EUR 305 million in the first half of the year (H1 2022: EUR 226 million).
 
The Nordex Group is confirming its guidance for the current financial year of achieving consolidated sales of EUR 5.6 to 6.1 billion and an EBITDA margin of minus 2 to plus 3 percent.
 
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