The German Wind Turbine Manufacturer Nordex today released its provisional consolidated financial statements for 2012.
According to the data, sales of the Nordex Group rose by 17.3 percent to EUR 1,075.3 million compared to EUR 916.8 million in 2011. The EBITAE was EUR 14 million, in line with the Board’s expectations. The Main drivers for the top line growth was increased business in the EMEA region, where Nordex registered an average Sales growth of 28 percent to EUR 868.9 million compared to EUR 678.6 million in 2011. The main drivers were a strong order book at the beginning of the year and growing demand in the course of the year together with an increase of more than 20 percent in the service business.
In response to the sustained pressure on earnings caused by insufficient capacity utilization in America and China together with the decline in new business in these two regions, the Management Board decided to re organize the Company’s activities in the United States and China.
On the one hand, this involved the discontinued production of the rotor blade facility in Dongying, China, which resulted in a charge of EUR 6.5 million. On the other hand, Nordex is planning adjusting capacities at the assembly plants in the light of expected order intake.
The exceptional expenses arising in connection with the structural adjustments in the United States and China amounted to EUR 75.0 million. Of this, the United States accounted for EUR 44.8 million and China for EUR 30 million.
Also Nordex forecasts sales of EUR 1.3 billion in 2013.
