Nordex’s Wind Turbine Order Haul Falls in Third Quarter

Revenue Decreases by 44% YoY

Nordex, a leading global wind turbine manufacturer, has reported a significant decline in its wind turbine order haul for the third quarter of the year. According to the company’s latest financial statement, the order intake decreased by 44% year-over-year (YoY) compared to the same period in the previous year.

Order Volume at €0.9 Billion

The company received orders worth €0.9 billion in the third quarter, down from €1.6 billion in the same quarter last year. The order volume was impacted by several factors, including delays in project financing and regulatory approvals, as well as reduced demand in certain regions.

Production Volume Remains Stable

Despite the decline in order intake, Nordex’s production volume remained stable, with the company delivering 1,041 turbines in the third quarter. The company’s production capacity remains strong, with a total of 4,333 turbines manufactured so far this year.

Impact on Guidance

The decline in order intake has led Nordex to revise its guidance for the full year. The company now expects its order intake to be around €4.5 billion, down from its previous guidance of €5.5 billion.

Cost Reduction Measures

To mitigate the impact of the decline in orders, Nordex has announced several cost reduction measures. The company plans to reduce its workforce by around 1,000 employees and cut costs by €150 million.

Conclusion

Nordex’s third-quarter results reflect the challenging conditions in the wind turbine industry. The company’s decline in order intake and revised guidance highlight the need for cost reduction measures and flexibility in the face of uncertain market conditions. However, Nordex’s strong production capacity and commitment to reducing costs suggest that the company is well-positioned to navigate the current market and emerge stronger in the future.

FAQs

What is the reason for the decline in Nordex’s wind turbine order haul?

The decline in Nordex’s wind turbine order haul is due to several factors, including delays in project financing and regulatory approvals, as well as reduced demand in certain regions.

How has Nordex’s production volume been affected by the decline in orders?

Nordex’s production volume has remained stable, with the company delivering 1,041 turbines in the third quarter.

Has Nordex revised its guidance for the full year?

Yes, Nordex has revised its guidance for the full year, expecting its order intake to be around €4.5 billion, down from its previous guidance of €5.5 billion.

What cost reduction measures has Nordex announced?

Nordex has announced several cost reduction measures, including reducing its workforce by around 1,000 employees and cutting costs by €150 million.