Nordex Installed 242 Wind Turbines in H1 2019, Expects Strong Second Half

The Nordex Group has reportedly installed a total of 242 wind turbines in 13 countries with a combined output of 778.1 MW in the first half of the year.

The Nordex Group has released its financial figures for the latest quarter and the first half of the current year. It has been reported that the company installed a total of 242 wind turbines in 13 countries with a combined output of 778.1 MW (H1 2018: 934.4 MW) in the period.

It was reported that of the 252 turbines, Europe accounted for around 34.5 percent and non-European markets for 65.5 percent of the total. As a result of lower installation figures, sales in the projects segment reached EUR 810.7 million in the reporting period (H1 2018: EUR 797.1 million). While sales in the service segment rose by 12.2 percent to EUR 181.6 million in the first half of the year (H1 2018: EUR 161.8 million) to continue their steady growth.

As of 30 June 2019, total assets grew by 22.2 percent compared to the end of 2018, particularly due to the increase in inventories for installations in the second half of the year. 

José Luis Blanco, CEO of the Nordex Group, said “we are fully prepared for significantly higher activity levels in the second half of the year and confirm our guidance for 2019. The transformation of our supply chain is also making progress. As already indicated, we will make additional investments in blade production to enable us to meet the higher than originally anticipated demand for the Delta4000 series and to support profitable growth in 2020 and beyond.”

It was also revealed that the production output has also been increased significantly in light of the sharp rise in worldwide installations planned for the second half of 2019. The company expanded its turbine assembly production by 52 percent from 1,141 MW in the prior-year period to 1,735 MW in the first six months of this year. It also increased the production of rotor blades by 48 percent to 659 units, up from 444 units.

In the projects segment (excluding services), the group recorded incoming orders of 3,038.4 MW in the first six months of 2019 (H1 2018: 2,097.3 MW) worth EUR 2,111.8 million. Of this total, Europe and North America accounted for 37 percent each, Latin America for 21 percent and Australia (Rest of the World region) for 5 percent. At the end of the first half of the year, it had an order book of EUR 5.3 billion in the projects segment (H1 2018: EUR 3.2 billion) and EUR 2.3 billion in the service segment (H1 2018: EUR 2.0 billion).