Nordex downgrades forecast and launches cost reduction program

Another wind turbine manufacturer has forecast tough times ahead. For Germany's Nordex, this means a second downgrade in 2017, while the CEO expects recovery in 2019.

Photo: PR Nordex

German wind turbine manufacturer Nordex needs to slim down and cut costs in its EU division, as evident after today's release of the firm's financial report for the first three months of the year, in which Nordex forecasts expectations of weak demand next year.

Revenue at Nordex declined from EUR 855 million in the third quarter last year to EUR 818 million in the same period this year, and the operating result for the first nine months of the year came to EUR 181 million, relative to EUR 203 million in the same period last year.

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