In the first nine months of 2009, the Nordex Group generated a 4 per cent increase in sales to € 814 million (previous year: € 781.1 million).
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This growth was underpinned by US business. US subsidiary Nordex USA, Inc. contributed 17 per cent and, thus, almost one fifth to consolidated sales (previous year: 1 per cent). However, Europe continued to account for the bulk of the Group’s business, contributing a total of 76 per cent to consolidated sales (previous year: 89 per cent). Gross profit climbed by 12 per cent to € 179 million (previous year: € 160 million). Earnings before interest and taxes (EBIT) contracted to € 21.9 million in the period under review (previous year: € 37.3 million) on account of higher structure costs. Nordex continued to spend on extending and modernizing its production facilities as a crucial basis for ensuring future growth. This especially involved new and extended rotor blade production in Rostock and the establishment of manufacturing operations in the USA. The third quarter of 2009 alone contributed more than half of earnings (€ 12.4 million), resulting in a sequential improvement in the EBIT margin to 4.4 per cent (Q2/2009: 3.3 per cent). Between 2004 and 2008, Nordex was able to increase its sales by an annual rate of over 50 per cent. Looking ahead over the coming year, management expects top-line growth in the single digits or low teens accompanied by a sustained improvement in profitability.
