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Nordex records lower EBITDA, higher sales in H1'19

Nordex SE on Aug. 14 reported EBITDA of €17.1 million in the first six months of 2019, a drop from €38.4 million in the same period in 2018. Its EBITDA margin fell to 1.7% from 4.0% a year ago.

The German wind turbine manufacturer generated consolidated sales of €990.8 million, an increase from €957.1 million in the prior-year period.

Nordex installed 242 turbines in 13 countries with a combined output of 778.1 MW in the first half of 2019, compared with 934.4 MW a year ago.

The company had an order book of €5.3 billion in the projects segment and €2.3 billion in the service segment at the end of the 2019 first half. These figures compare to €3.2 billion in the projects segment and €2.0 billion in the service segment at the end of the 2018 first half.

"We are fully prepared for significantly higher activity levels in the second half of the year and confirm our guidance for 2019," said CEO José Luis Blanco.

The company is targeting €3.2 billion to €3.5 billion in consolidated sales for 2019, along with an EBITDA margin of 3% to 5%.