Sales plunge at Nordex

The German wind turbine manufacturer lost a fourth of its sales in Q1 relative to the same period last year. The company maintains its guidance for the year.

Photo: Nordex

Ongoing tough competition in the wind turbine sector has pushed down sales in the first quarter for struggling German wind turbine manufacturer Nordex, according to its recently released report.

Sales declined by 24 percent to EUR 487 million relative to the same period in 2017, a decline which reverberates all the way down the report. Net sales declined by 40 percent, EBITDA landed at just EUR 20 million – a 60 percent decline – while EBIT landed at a minus of EUR 16.5 million.

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