Germany's Nordex posts 28% y/y rise in Q1 sales

German wind turbine supplier Nordex SE (ETR:NDX1) on Tuesday reported a 28.3% year-on-year increase in first-quarter sales to EUR 637 million (USD 725m) thanks to improvements in the production and installation areas.

In January-March 2016, the company produced 573.9 MW of wind turbines, which is 24% more than in the same period of 2015. Rotor blade output surged by 141% to 159 units as the Rostock facility now benefits from the ramp-up of production and the execution of more efficient production processes, Nordex said.

The firm achieved a significant rise of more than 100% in quarterly installations as it deployed 490.5 MW in nine wind markets compared to 240.2 MW a year back. With 147 MW, Germany accounted for most of that, while 95 MW and 72 MW were installed in Pakistan and France, respectively.

During the quarter, Nordex got firmly financed orders with a total value of EUR 541 million, which is a 16% year-on-year decline due to a special effect arising in the previous year. The value of its firmly financed turbine order backlog as of March 31, 2016 was relatively unchanged at EUR 1.64 billion compared with EUR 1.66 billion a year earlier.

Nordex’s earnings indicators are currently not available. The company will be reporting on further financial indicators on May 23. None of the figures takes into consideration the performance of the recently-acquired Acciona Windpower business because it will be consolidated from the second quarter, Nordex mentioned.

(EUR 1.0 = USD 1.139)

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