Nordex earnings were down almost 16% in the first nine months of 2019, contributing to a net loss of over €76m in the period.
Earnings before interest, tax, depreciation and amortisation were €60.2m at the end of September, down from €71.4m last year.
The company’s consolidated net loss was €76.5m, wider than the €51.8m loss in the first three quarters of 2018.
The loss came despite revenue at Nordex growing to almost €2.52bn from over €1.75bn, a rise of more than 11%, while sales were up almost 10% to €1.94bn from €1.77bn.
Nordex increased its order intake in the projects business segment – excluding services – to 4741.8MW from 3070.4MW, corresponding to a value of €3313.5m that was up on the €2342.5m value in 2018.
It said the results were in line with expectations, with the third quarter stronger than the previous two quarters.
The manufacturer said it installed 476 turbines in the first three quarters of 2019 in 16 countries totalling 1565MW. This is down on the 1719MW installed last year.
Europe accounted for about 47% of the installations.
Nordex Group chief executive Jose Luis Blanco said: “The Nordex Group’s business is performing in line with our expectations in 2019, with a significantly stronger second half of the year.
“In light of this, we are confirming our guidance for the current financial year. Demand for our new Delta4000 product range remains very strong.
“It is now important for us to process a high number of projects efficiently while at the same time pushing ahead with the transformation of our supply chain.”
Meanwhile, Nordex secured turbine orders from Boydak Enerji in Turkey for 21 N149/4.0-4.5 machines with individual capacity of 4.8MW for the 110.8MW Omerli wind farm and an additional 22 N117/3675 turbines for the 80.9MW Sibel project.
Both orders include premium service for 10 years.
Omerli will be built near Istanbul, while Sibel is in the Aegean region between Izmir and Manisa.
An unnamed utility has also ordered 14 N149/4.0-4.5 turbines with capacity of 4.8MW each for a 67MW wind farm in the Marmara region of the country.
The order includes premium service for 10 years as well.