Nordex: Nordex Posts Surge in Profit and Order Growth

Wind turbine manufacturer Nordex has kicked off the new year with a significant jump in profits, despite a decline in revenue. The company announced on Friday that earnings before interest, taxes, depreciation, and amortization (EBITDA) rose by approximately 53 percent in the first quarter, reaching €79.6 million. Revenue, however, slipped to €1.43 billion, slightly down from last year's figure of €1.57 billion. According to Nordex, this decrease is primarily attributed to a lower level of installations and timing shifts in the production schedule. Meanwhile, orders saw a five percent increase. "Overall, the first quarter met our expectations with strong order intake and further improvement in profitability," said CEO José Luis Blanco. He remains confident that the company will achieve its targets for this year as well as its medium-term goals. Previous guidance indicated that revenue for the current year is expected to rise to between €7.4 billion and €7.9 billion, with the EBITDA margin projected to reach 5.0 to 7.0 percent. (Reporting by Philipp Krach, edited by Myria Mildenberger. For inquiries, contact our editorial team at berlin.newsroom@thomsonreuters.com (for politics and economics) or frankfurt.newsroom@thomsonreuters.com (for companies and markets).) Wind turbine manufacturer Nordex has kicked off the new year with a significant jump in profits, despite a decline in revenue. The company announced on Friday that earnings before interest, taxes, depreciation, and amortization (EBITDA) rose by approximately 53 percent in the first quarter, reaching €79.6 million. Revenue, however, slipped to €1.43 billion, slightly down from last year's figure of €1.57 billion. According to Nordex, this decrease is primarily attributed to a lower level of installations and timing shifts in the production schedule. Meanwhile, orders saw a five percent increase. "Overall, the first quarter met our expectations with strong order intake and further improvement in profitability," said CEO José Luis Blanco. He remains confident that the company will achieve its targets for this year as well as its medium-term goals. Previous guidance indicated that revenue for the current year is expected to rise to between €7.4 billion and €7.9 billion, with the EBITDA margin projected to reach 5.0 to 7.0 percent. (Reporting by Philipp Krach, edited by Myria Mildenberger. For inquiries, contact our editorial team at berlin.newsroom@thomsonreuters.com (for politics and economics) or frankfurt.newsroom@thomsonreuters.com (for companies and markets).)