Nordex Group Reports Strong First Quarter with Significant Financial Growth

Nordex Group achieved notable growth in the first quarter of 2024 with a 29% increase in sales, reaching EUR 1,574 million. This positive change is highlighted by a significant improvement in EBITDA, which reached EUR 52.1 million, contrasting with a loss of EUR 114.9 million in the same period last year. The EBITDA margin also saw a rise to 3.3%.

The company also reported a strong order intake of 2.1 GW in the Projects segment, generating revenues of EUR 1,765 million. This marks a substantial increase from EUR 917 million in the prior-year period. Sales in the Service segment increased as well, up by 9.3% to EUR 166 million.

In installation operations, Nordex erected 227 turbines with a total output of 1,103 MW across 13 countries. While this is a decrease from last year's numbers, which saw 276 turbines installed, the focus on profitable projects and stable cost environments contributed to improved financial outcomes. Additionally, the total order book grew to EUR 11.1 billion, reflecting a comprehensive growth in project and service orders.

Despite a robust quarter, there were declines in cash and cash equivalents and a net cash position, both of which saw reductions compared to the end of 2023. However, the equity ratio saw a minor improvement, consolidating financial stability. Nordex continues to enhance its operational and financial metrics, looking towards more stable earnings and margins throughout the year.