The Nordex Group has reported its financial performance for the first nine months of 2024, with sales increasing by 14 percent to €5.1 billion (first nine months of 2023: €4.5 billion). Total performance, including changes in inventories, rose by 10 percent to €4.8 billion (first nine months of 2023: €4.4 billion).
Earnings before interest, taxes, depreciation, and amortisation (EBITDA) improved to €189 million in the first nine months of 2024 (first nine months of 2023: € minus 67 million). Until September, profitability gradually increased to an EBITDA margin of 3.7 percent (first nine months of 2023: minus 1.5 percent) and reached a margin of 4.3 percent in the third quarter of 2024 with an EBITDA of €71.5 million (third quarter of 2023: €48 million, 0.1 percent). The full-year EBITDA margin is expected to be closer to the top end of the margin guidance range of 3 to 4 percent.
In the Projects segment, the Nordex Group recorded order intake of 5.1 GW for the first nine months of 2024, up from 4.9 GW in the same period of 2023. This represents a 4 percent increase, with a total value of new orders reaching €4.6 billion (first nine months of 2023: €4.1 billion). These orders were received from 23 countries and span various turbine variants. As of September 2024, the Nordex Group’s order book stood at €11.5 billion, compared to €10.2 billion in September 2023. This comprises €6.9 billion (first nine months of 2023: €6.7 billion) in the Projects segment and €4.6 billion (first nine months of 2023: €3.6 billion) in the Service segment.
In the first nine months of 2024, turbine assembly production reached 5,090 MW, marking a 1.1 percent increase compared to the same period last year (first nine months of 2023: 5,032 MW). Additionally, rotor blade production rose to 3,823 units, up from 3,353 units in the same period of 2023. Of these, 1,138 rotor blades were produced in-house (first nine months of 2023: 802), while 2,685 (first nine months of 2023: 2,556) were sourced from external suppliers.
The Nordex Group installed 944 wind turbines across 24 countries, totalling 5.0 GW in the first nine months of 2024. This compares to 1,090 wind turbines in 24 countries with a total output of 5.5 GW in the same period of 2023. Of the installations carried out in the period under review (in MW), 73 percent were attributable to Europe, 15 percent to Latin America, 7 percent to the region "Rest of the World", and 5 percent to North America.
Sales in the Projects segment rose by 14 percent to €4.6 billion in the first nine months of this year, up from €4.0 billion in the comparable period of 2023. The Service segment also experienced growth, with sales increasing by 13 percent to €543 million (first nine months of 2023: €482 million).
