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Big sales not enough to get Nordex back on track

Nordex is marred by delays on several key projects and is heading straight for an annual deficit despite selling its development business and booking a large surge in installations.

Photo: Nordex

The most positive news for Nordex is that it managed to turn a profit in this year's third quarter – the German OEM's first black bottom line in three years, and even as much as EUR 80 million, shows the company's Q3 report, published Friday.

That, however, is a relatively simple explanation. The group's sale of its development business to compatriot utility RWE during the quarter for a price of EUR 402.5 million reached completion, propping up the result with EUR 300 million. Being that the sale can hardly be repeated means there will be less of the consolidated business looking forward, it's clear to see that Nordex' challenges are not yet overcome.

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