Nordex sales and profits drop in first half of year

German wind turbine maker Nordex has booked a fall in revenue and earnings, but its order books swelled in the first half of the year, reports Craig Richard in Windpower Monthly. Sales dropped 36 percent to 957 million euros, while adjusted earnings (Ebitda) fell 67 percent to around 38 million euros. Nordex said both service and project orders increased significantly in the first half of 2018. "While orders in the wind energy sector remain flat in our home market Germany, Nordex has secured numerous orders in its international markets,” the company said. It also warned that challenges lay ahead because of “fierce competition” and “pressure on prices.”

Read the article in English here.

See the CLEW article Wind industry calls for special auctions amid expansion slowdown for more information.