Based on strong first half sales and earnings – particularly in the European market – the management board at Nordex has raised its earnings forecast for the rest of the year.
The turbine manufacturer posted a 57% increase in sales to around EUR 661 million in the first half of 2013, compared with EUR 421 million in the same period last year. Nordex says the trend reflects growth in Europe, where Nordex generated 93% of its sales. Additionally, the company attributes its operating performance to greater production output and turbine installation. Therefore, production of turbines rose 93% to 657.2 MW, while the capacity of newly installed turbines doubled almost to 560.8 MW.
Earnings before interest and taxes improved significantly to EUR 15 million, compared to a loss of EUR 13.1 million last year. The company attributes the improvement to increased productivity, the successful marketing of new turbines and technical solutions, and various cost-cutting efforts.
Nordex says new business continues to grow. For example, order intake increased 61% to EUR 839.4 million, compared with EUR 521.8 in the first half of last year.
Despite weakness in important markets such as the U.S. and Asia, Nordex anticipates full-year sales and order intake of EUR 1.3 billion to EUR 1.4 billion for 2013, up from its previously stated guidance of EUR 1.2 billion to EUR 1.3 billion.