Nordex has reported €52m in first quarter earnings before interest, tax, depreciation and amortisation (EBITDA), recovering from a loss of €114.9m in the same period in 2023.
In first quarter the turbine maker reported sales of €1.5bn, which corresponds to a growth of 29% compared with the same period in 2023.
In the first quarter of this year Nordex installed 227 turbines in 13 countries with an aggregate output of 1103MW, compared with 276 machines with an aggregate output of 1319MW in 19 countries in first quarter 2023.
In terms of installed capacity (in MW), 71% was attributable to Europe, 19% to Latin America and 10% to the rest of the world.
As a result of an improving orderbook, sales in the projects segment rose by 32.3% to €1.413bn in the reporting period (first quarter 2023 €1bn).
The service segment also continued its positive trend with an increase in sales of 9.3% to €166m (2023 €152m).
“Overall, we have made a strong start on our path towards improving our margins and achieving more stable results,” said Nordex chief executive Jose Luis Blanco.
He added: “We have executed projects with higher profitability and found a stable cost environment, meaning that we have significantly improved our performance compared to the previous year.
“After several years of high volatility and fluctuations, we now expect a more stable earnings and margin trend over the course of the year.”