Nordex, a leading turbine maker, has marked a robust recovery in the first quarter of the year, reporting €52m in earnings before interest, tax, depreciation, and amortization (EBITDA). This marks a significant turnaround from the €114.9m loss reported during the same period in 2023.
The company's first-quarter sales surged to €1.5bn, reflecting a remarkable growth of 29% compared to the corresponding period last year. Nordex attributed this growth to a strategic focus on expanding its global footprint and enhancing operational efficiency.
During the first quarter of 2024, Nordex installed 227 turbines across 13 countries, with a combined output of 1103MW. This performance, while slightly lower than the previous year's figures, underscores Nordex's continued presence and impact in the global wind energy market.
Europe accounted for the majority of Nordex's installed capacity, representing 71% of the total, followed by Latin America with 19%, and the rest of the world with 10%.
Buoyed by an improving order book, Nordex's sales in the projects segment surged by 32.3% to €1.413bn in the reporting period, compared to €1bn in the first quarter of 2023. Additionally, the service segment experienced positive growth, with sales increasing by 9.3% to €166m.
Nordex's chief executive, Jose Luis Blanco, expressed optimism about the company's performance, stating, “Overall, we have made a strong start on our path towards improving our margins and achieving more stable results.” He added, “After several years of high volatility and fluctuations, we now expect a more stable earnings and margin trend over the course of the year.”
Blanco highlighted the company's focus on executing projects with higher profitability and maintaining a stable cost environment, factors contributing to Nordex's improved performance compared to the previous year.
