Nordex recorded earnings before interest, taxes, depreciation and amortisation (EBITDA) of €101.7m last year, compared with €200.7m for 2017, according to preliminary results.
The result represents an EBITDA margin of 4.1% in 2018, compared with 6.5% for the previous year, which was within the company’s expected range of 4-5%.
Nordex recorded consolidated sales of €2.46bn, down on 2017’s sales of €3.08bn.
However, last year the manufacturer increased its order intake by 73% from 2.74GW to 4.75GW.
Orders were distributed globally, with 45.1% across Europe, 15.2% in North America, 25% in Latin America 14.7% across the rest of the world.
Orders for the 475MW Nysater project in Sweden and for the 300MW Mulanur project in India helped boost the company’s 2018 intake.
Nordex Group chief executive Jose Luis Blanco said: “The year 2018 has shown that the measures initiated by us have been effective.
“Our new high-efficiency turbines have met with positive feedback from customers, and we continue to see strong demand.
“We started 2019 with a promising order book and have a solid financial structure, not least thanks to our successful working capital management.”
The company will present its audited figures for financial year 2018 including its guidance for 2019 on 26 March 2019.