Nordex made a loss of almost €52m in the first nine months of the year, compared with a profit of close to €28m in 2017.
Earnings before interest, taxes, depreciation and amortisation were down by more than 60% to just over €71m, compared with almost €182m last year, while sales also slipped nearly 24% to just over €1.77bn from just under €2.32bn.
Sales were down due to auction delayed projects in Germany and price pressures also impacted the company.
Nordex said it expects to the rest of the year to remain challenging, with 2019 being a year of transition before a recovery is expected in 2020.
Orders are up 169% on last year to over 3GW, worth about €2.3bn, from just above 1.15GW at the end of September 2017 with a value of €1.1bn.
The company said orders are spread across 17 different countries, with a strong increase in Latin America – particularly Brazil, Mexico and Chile – and South Africa. The order intake in Europe was almost double on last year, it added.
Sales in Nordex’s service division grew 14% to more than €258m, up from €227.5m in 2017.
Nordex chief executive Jose Luis Blanco said: “We received a large number of orders from different markets around the world, achieving a healthy, diversified mix of new business.
“This will enable us to continue to compensate for temporary periods of weakness in individual markets, as it is currently the case in certain European regions.”