Higher Turnover But Lower Profits for Nordex

Wind turbine manufacturer, Nordex AG, Norderstedt, reported an increase of its turnover by 4% to EUR 814 million for the first nine months of 2009, while EBIT declined to EUR 21.9 million (previous year: EUR 37.3 million).  The company attributed the EBIT decline to higher labour and investment expenditures.

Nordex received incoming orders of EUR 199 million. Order volume in total amounts to EUR 2.3 billion, down from over EUR 3 billion at the beginning of the year.

Nordex CEO Thomas Richterich expressed confidence for Nordex’s performance for the whole year and reiterated his turnover forecast of roughly EUR 1.2 billion.

Source: Süddeutsche Zeitung, 25 November 2009, page 20

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