Nordex has reported a net profit of €4m in the third quarter 2024, compared with a €35m net loss in the same period last year, as part of its results for the first nine months of 2024.
In 9M 2024 Nordex reported €189m in EBITDA, compared with a 9M 2023 loss of €67m.
Until September, profitability gradually increased to an EBITDA margin of 3.7% (9M 2023, -1.5%) and reached a margin of 4.3% in the third quarter 2024 with an EBITDA of €71.5m (Q3 2023, €48m, 0.1%).
Given the strong development, the full-year EBITDA margin is expected to be closer to the top end of the margin guidance range of 3-4%.
In the Projects segment, Nordex recorded order intake of 5.1GW in 9M 2024, up from 4.9GW in the period of comparison in 2023.
This represents a 4%, with a total value of new orders reaching €4.6bn (9M/2023 €4.1bn).
These orders were received from 23 countries and span various turbine variants.
As of September 2024, Nordex’s order book stood at €11.5bn, compared to €10.2bn in September 2023.
This comprises €6.9bn (9M/2023 €6.7bn) in the Projects segment and €4.6bn (9M/2023 €3.6bn) in the Service segment.
In the first nine months of 2024, turbine assembly production reached 5090MW, marking a 1.1%.
Nordex installed 944 wind turbines across 24 countries, totalling 5GW in the first nine months of 2024, in line with internal planning.
This compares to 1090 wind turbines in 24 countries with a total output of 5.5GW in the same of 2023.
Nordex CEO Jose Luis Blanco said: “I am very pleased with the operational progress over the past nine months, demonstrating a consistent increase in profitability each quarter and aligning with our expectations.
“In the third quarter again, we achieved a positive net profit and a positive free cash flow, showing a consistent and sustainable progress.
“This puts us on a strong path to further improve profitability and reach our mid-term goal of an 8 percent EBITDA margin.”