- Sales rise to EUR 964.6 million in Q1 2020
- EBITDA margin at 1.4 percent
- Orders of 1.6 GW in Q1 2020
- Order book for projects and services at EUR 8.4 billion
- Guarantee facility refinanced until April 2023
- Guidance for 2020 withdrawn due to COVID-19
Hamburg, 11 May 2020. The Nordex Group (ISIN: DE000A0D6554) confirms the preliminary figures released on 5 May 2020. Sales in the first quarter of 2020 increased to EUR 964.6 million (Q1/2019: EUR 398.9 million). Earnings before interest, taxes, depreciation and amortization (EBITDA) rose to EUR 13.1 million (Q1/2019: EUR 3.3 million), showing an EBITDA margin of 1.4 percent (Q1/2019: 0.8 percent). The increase in sales is mainly attributable to the sharp rise in installation numbers in the Projects segment.
Operating performance
In the first quarter of 2020, the Nordex Group installed a total of 269 wind turbines (Q1/2019: 84) in 21 countries with a combined output of 899.2 MW (Q1/2019: 260.9 MW). Europe accounted for 60 percent of the installed capacity, Latin America for 15 percent, North America for 13 and the Rest of the World for 12 percent. As a result, sales for the Projects segment climbed to EUR 862.6 million in the reporting period (Q1/2019: EUR 312.3 million). Sales in the Service segment also continued to grow, rising by 16.7 percent from EUR 87.4 million to EUR 102.0 million.
