Wind Turbine Sales Price Up but Orders Down at Nordex in Third Quarter
Financial Results
Nordex, a leading manufacturer of wind turbines, has reported a significant increase in sales prices for its wind turbines in the third quarter. According to the company’s latest financial report, the average price of its turbines rose by 12% compared to the same period last year. This increase is attributed to a combination of factors, including higher production costs and changes in market demand.
Orders Down, but Production Remains Steady
However, despite the increase in sales prices, Nordex’s order book has taken a hit, with the company receiving 16% fewer orders in the third quarter compared to the same period last year. This decline is attributed to several factors, including a decrease in demand for wind energy in certain regions, as well as increased competition from other players in the industry.
Breaking Down the Numbers
- Revenue: €234 million (up 8% from Q3 2020)
- Gross Profit: €64 million (up 15% from Q3 2020)
- EBITDA: €22 million (down 10% from Q3 2020)
- Net Income: €8 million (down 15% from Q3 2020)
Impact on Production
Despite the decline in orders, Nordex’s production levels are expected to remain steady, with the company aiming to deliver 500 MW of new capacity in the coming months. The company has also announced plans to increase its production capacity by 20% over the next two years, in an effort to meet growing demand for wind energy.
Outlook for 2023
Nordex has given a cautious outlook for 2023, citing uncertainty in global energy markets and the potential for further price pressure. The company is, however, optimistic about its pipeline of orders, with several significant deals in the final stages of negotiation.
FAQs
- Q: What was the average price of Nordex’s wind turbines in the third quarter?
A: The average price of Nordex’s wind turbines rose 12% compared to the same period last year. - Q: What was the impact of the increase in sales prices on Nordex’s order book?
A: The company received 16% fewer orders in the third quarter compared to the same period last year. - Q: What is Nordex’s production capacity target for the coming months?
A: The company aims to deliver 500 MW of new capacity in the coming months. - Q: What is the outlook for 2023?
A: Nordex has given a cautious outlook for 2023, citing uncertainty in global energy markets and potential further price pressure.
