ROSTOCK (dpa-AFX) - German wind turbine manufacturer Nordex Group (NRDXF.PK) reported Monday that its first-quarter consolidated net loss was 38 million euros, compared to loss of 35 million euros last year.
EBIT margin, adjusted for PPA, was negative 1.7 percent, compared to last year's negative 5.9 percent.
Earnings before interest, taxes, depreciation and amortization or EBITDA, as announced earlier, rose 297 percent to 13.1 million euros from prior year's 3.3 million euros. EBITDA margin was 1.4 percent, up from 0.8 percent last year.
Sales in the first quarter increased 141.8 percent to 964.6 million euros from last year's 398.9 million euros. The increase in sales is mainly attributable to the sharp rise in installation numbers in the Projects segment.
Nordex installed a total of 269 wind turbines in 21 countries, up from 84 units last year. Combined output was 899.2 MW, up from 260.9 MW last year. Europe accounted for 60 percent of the installed capacity.
Nordex increased its order intake in the Projects segment to 1,643.9 MW from 1,035.1 MW last year. This corresponds to a value of 1.18 billion euros, up 46.2 percent from 810.2 million last year.
The company, which withdrew its fiscal 2020 outlook on May 5, now said that in the current situation and since it is uncertain for how long it continues to exist, it is not foreseeable when a new guidance for the current financial year 2020 will be possible.
Copyright RTT News/dpa-AFX
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