Nordex has reported a 41.9% increase in net profit in the first nine months of the year and expects to hit its targets for 2016.
Consolidated net profit rose to €64.4m, compared with €45.3m a year ago as Ebitda climbed 47.7% to €203.9m.
The positive results were driven by greater productivity and improved project execution, the German manufacturer said.
They were also boosted by its merger with Acciona Windpower, which was completed in the second quarter.
Sales rose by 31% to €2.34bn, with an organic growth of 10.6%, as new business reached €2.17bn driven by Germany and the Americas. Orders in the third quarter topped €841m.
Acciona contributed 24% of the group’s order intake in the first nine months and is expected to play a growing role in the final quarter of the year, Nordex said.
Installed capacity rose by 75% to 2,025MW, compared with 1,158MW last year.
“The third quarter lived up to our expectations,” Nordex chief executive Bondo Krogsgaard said. “I expect that we will be able to achieve our full-year target, and we confirm guidance at the lower end of the range as far as top-line and profitability is concerned.”
“We expect a busy fourth quarter in terms of new orders and maintain the order intake guidance of a good €3.4bn.”
Image: Nordex
