German turbine manufacturer Nordex is “well prepared” to face what it expects will be a challenging 2018.
The company said fallout from 2017 auctions in its home market are in part responsible for an outlook that includes sales of €2.6bn, compared with €3.1bn in 2017, and an operational profit margin of up to 5%, compared with 7.9% last year.
Nordex has budgeted a capital spend of around €110m “particularly for product enhancements and sustained reductions in the cost of energy”.
Chief executive Jose Luis Blanco said: “In 2017 we systematically prepared for the challenging market environment. Our turbines produce clean electricity at substantially lower cost… allowing our customers to win auctions in all major volume and growth markets.”
He added the company was at the same time “increasingly structuring our supply chain on a more global and efficient basis to meet project requirements”.
Image: Nordex
Nordex braced for tough 2018
By EBS