Nordex will be adding a new chapter to its history following the merger with turbine developer and O&M provider, Acciona Windpower. Antitrust clearance was received and the transaction is set to be legally and commercially finalized at the beginning of April.
Based on the already published order backlog, Nordex and Acciona Windpower are jointly seeking sales of over EUR 3.4 billion and an EBITDA margin in excess of 7.5% in 2016.
Nordex has also recently released its audited consolidated financial statements and is able to confirm the preliminary data for 2015, which the company reported in February.
According to these figures, sales rose by around 40% to EUR 2,430.1 million in 2015 (2014: 1,734.5 million), and earnings before interest and taxes (EBIT) climbed by just under 62% to EUR 126.2 million (2014: EUR 78.0 million). Accordingly, operating profit (EBIT) came within the forecast, while sales slightly exceeded the guidance range, which had been adjusted upwards in November
Consolidated net profit rose by some 34% to EUR 52.3 million (2014: EUR 39.0 million), translating into earnings per share of EUR 0.65 (2014: EUR 0.48).
Nordex also achieved new records in its operating indicators: in addition to order intake, which rose by 41% to EUR 2,470.9 million (2014: EUR 1,753.9 million), the turbine assembly output of 1,899 MW (2014: 1,417 MW) and the installation output of 1,697 MW (2014: 1,489 MW) reached the highest levels ever in the company’s history of more than 30 years.
In addition to current demand, the outlook is also based on the increased order backlog for turbine engineering. The volume of firmly financed orders placed with Nordex increased by 14% to EUR 1,668.0 million on the reporting date (December 31, 2014: 1,461.6 million). This will be supplemented by the company’s own service business and, from the second quarter, Acciona Windpower’s activities.
“We started 2016 backed by a good order book and continue to observe strong demand in our focus markets, such as Germany, France and Turkey. Looking forward, Acciona Windpower markets [India and Mexico] will also be contributing to our growth,” said Nordex CEO Lars Bondo Krogsgaard. “In addition, we will be benefiting to a greater extent from the renewal of the production tax credits in the United States.”
Read the full release here.
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