Windpower Engineering & Development

  • Home
  • Articles
    • Most recent posts
    • News
    • Featured
  • Leadership
    • 2020 Winners
    • 2019 Winners
  • Resources
    • Digital issues
    • Podcasts
    • Suppliers
    • Wind Power Videos
    • Wind Power Events
  • Webinars
  • Videos
  • Subscribe
    • Magazine Subscription
    • Enewsletter Subscription
  • About Us

Nordex’s first-quarter revenues for 2017 in line with budget

By Michelle Froese | May 12, 2017

The Nordex Group says it performed in line with its expectations during the first quarter of 2017. Most notably, the proportion of sales generated in America increased, where the group has a larger footprint following the merger with Acciona Windpower.

Nordex’s proportion of sales generated in America has increased in Q1 2017, following the merger with Acciona Windpower

Overall, sales amounted to EUR 648.4 million (Q1/2016: EUR 637 million). The service business rose substantially by 57% to EUR 74 million (Q1/2016: EUR 47.1 million).

Earnings before interest, taxes, depreciation, and amortization (EBITDA) amounted to EUR 51.2 million. At 7.9%, the operating margin was within the target corridor, chiefly underpinned by an increased gross margin of 29%, which reflects the growing service business.

“Our medium-term goal is to improve market share and profitability,” said Nordex CEO José Luis Blanco. “For this reason, we are stepping up spending on our technology, as well as lowering production costs.”

Nordex continues to have a solid balance-sheet structure. The equity ratio stood at 33% as of the reporting date (December 31, 2016: 31.4%). In preparation for rising installation volume over the upcoming quarters, the group has accumulated inventories, temporarily causing the working capital ratio to rise to 8.4%.

At the same time, capital spending climbed to EUR 35.7 million (Q1/2016: EUR 15.1 million). This was primarily due to the acquisition of plant and equipment for the production of new core components. Nordex continued to invest in the development of new competitive products.

The transition to auction based mechanism, in the core European markets, caused group order intake to drop to EUR 333 million (Q1/2016: EUR 541 million).

As of the reporting date, Nordex had an order backlog of EUR 3.8 billion (incl. Service), which forms the basis for confirming the full-year guidance for 2017. Thus, sales are expected to lie within the range of EUR 3.1 to 3.3 billion, accompanied by an EBITDA margin of between 7.8 and 8.2 percent. The Management Board expects the working capital ratio to drop to 5 to 7% in the second half of the year due to prepayments for new orders.

Tell Us What You Think! Cancel reply

Related Articles Read More >

US Wind begins oceanographic surveys for Maryland offshore lease area
Industry requests larger offshore wind infrastructure budget in letter to Congress
Ingeteam introduces a new robust wind controller firmware development methodology
GE to supply turbines to Invenergy’s 1.4-GW wind portfolio in Oklahoma

Windpower Engineering & Development Digital Edition

Digital Edition

Browse the most current issue of Windpower Engineering & Development and back issues in an easy to use high quality format. Clip, share and download with the leading wind power engineering magazine today.

Webinars
Windpower Engineering & Development
  • Wind Articles
  • Subscribe to Windpower Engineering
  • Advertising
  • Contact Us/About Us

Copyright © 2021 WTWH Media, LLC. All Rights Reserved. Site Map | Privacy Policy | RSS

Search Windpower Power Engineering & Development

  • Home
  • Articles
    • Most recent posts
    • News
    • Featured
  • Leadership
    • 2020 Winners
    • 2019 Winners
  • Resources
    • Digital issues
    • Podcasts
    • Suppliers
    • Wind Power Videos
    • Wind Power Events
  • Webinars
  • Videos
  • Subscribe
    • Magazine Subscription
    • Enewsletter Subscription
  • About Us