ROSTOCK (dpa-AFX) - German wind turbines maker Nordex Group (NRDXF.PK) reported Tuesday that its first-half earnings before interest, taxes, depreciation and amortization or EBITDA totaled 38.4 million euros, down from 117.5 million euros last year. EBITDA margin was 4.0 percent, compared to 7.8 percent a year ago.
Nordex generated sales of 957.1 million euros in the six months, lower than prior year's 1.50 billion euros.
Sales in the Projects segment fell 41.2 percent year-on-year to 797.1 million euros. In the Service segment, Nordex increased sales 7.7 percent to 161.8 million euros to remain on track for growth.
Nordex generated order intake of 2.1 GW in the Projects segment, including 1.1 GW in the second quarter. Last year's order intake was 0.9 GW.
In the first half of 2018, Nordex installed 303 wind turbines with total output of 934.4 MW in 13 countries, compared to 1,128.6 MW last year. Europe accounted for around half of this installation volume.
Further, the company confirmed its 2018 guidance. The company expects to generate consolidated sales of 2.4 billion euros to 2.6 billion euros and an EBITDA margin of between 4.0 and 5.0 percent.
Copyright RTT News/dpa-AFX