On Heels Of Strong 2015, Nordex To Finalize Acciona Merger In April

Posted by Betsy Lillian on March 21, 2016 No Comments
Categories : New & Noteworthy

Having recently received anti-trust clearance, Nordex says it will be finalizing its merger with Acciona Windpower both legally and commercially at the beginning of April.

Based on an already published firm-order backlog, the companies are jointly seeking sales of over EUR 3.4 billion and an earnings before interest, taxes, depreciation and amortization margin in excess of 7.5% in 2016. Last October, the Nordex Group announced that it would be merging with the Spanish turbine producer.

Nordex says its sales rose by around 40% to EUR 2.4301 billion in 2015 (compared to 1.7345 billion in 2014). Moreover, consolidated net profit rose by some 34% to EUR 52.3 million (compared to EUR 39.0 million in 2014).

The company, whose order intake rose 41% in 2015, says it also achieved new records in its operating indicators: A turbine assembly output of 1.899 GW (compared to 1.417 GW in 2014) and an installation output of 1.697 GW (compared to 1.489 GW in 2014) reached the highest levels ever in the company’s history of more than 30 years, according to Nordex.

“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 – e.g., India and Mexico – will also be contributing to our growth,” explains Lars Bondo Krogsgaard, CEO of Nordex. “In addition, we will be benefiting to a greater extent from the renewal of the production tax credits in the United States.”

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