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Windtech International May June 2024 issue

 

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The Nordex Group reported sales of €1,574 million, representing a 29 percent increase (Q1/2023: €1,217 million). Earnings before interest, taxes, depreciation, and amortisation (EBITDA) for the first quarter amounted to €52.1 million (Q1/2023: minus €114.9 million), resulting in an EBITDA margin of 3.3 percent (Q1/2023: minus 9.4 percent).

In the first quarter of 2024, the Nordex Group installed 227 wind turbines in 13 countries with a total output of 1,103 MW. In the same period last year, 276 wind turbines with a combined output of 1,319 MW were installed in 19 countries. In terms of installed capacity (in MW), Europe accounted for 71 percent, Latin America for 19 percent, and the rest of the world for 10 percent.

Sales in the Projects segment increased by 32.3 percent to €1,413 million in the reporting period (Q1/2023: €1,068 million) due to an improving order book. The Service segment also experienced positive growth, with sales increasing by 9.3 percent to €166 million (Q1/2023: €152 million).

Turbine assembly production output amounted to 199 turbines (Q1/2023: 217 units) with a nominal output of 1,171 MW (Q1/2023: 1,078 MW). The Company produced 313 rotor blades (Q1/2023: 233 units), while external suppliers manufactured an additional 726 rotor blades (Q1/2023: 888 rotor blades).

Order intake (excluding the Service segment) increased to €1,765 million (Q1/2023: €917 million), with total nominal output rising to 2,086 MW (Q1/2023: 1,021 MW). This order volume originated from eleven countries, with Germany, South Africa, and Lithuania being the largest individual markets. The order book in the Projects segment grew to €7.3 billion by the end of the quarter (Q1/2023: €6.5 billion), while the Service segment's order book increased by 13.6 percent, from €3.4 billion to €3.8 billion. Consequently, the total order book for both segments amounted to €11.1 billion (Q1/2023: €9.9 billion).

 
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