Nordex records 15.7% YoY surge in sales

Germany-based wind turbine manufacturer Nordex Group reported ~$4.8 billion in sales during the first nine months (9M) of 2023, a year-over-year (YoY) increase of 15.7% from $4.2 billion. Earnings before Interest, Taxes, Depreciation, and Amortization (EBITDA) were recorded at a loss of $72.6 million, an improvement of 66.7% YoY. Nordex recorded a net loss of $364.5 million, an improvement of roughly 10% from $405.9 million in 9M 2022. The Nordex Group experienced a modest uptick in turbine production, raising its output from 4.9 GW in the prior year to 5 GW. The overall manufacturing quantity of rotor blades held steady at 3,358 units, compared to 3,357 blades in 9M of 2022. Within this total, the company manufactured 802 blades in its facilities, a slight decrease from the 879 blades produced in 2022. Additionally, the company procured 2,556 blades from external suppliers, marking an increase from the 2,478 blades sourced during 9M of 2022. In 9M 2023, the Nordex Group successfully deployed 1,090 wind turbines across 24 countries, boasting a collective capacity of 5.5 GW. This marked a significant increase from the same period in 2022, when 791 wind turbines were installed in 17 countries, generating a total output of 3.6 GW. Europe led the way in installations, constituting 61%, followed by Latin America at 25%, and North America and the rest of the world at 7% each. The installations contributed to the projects segment?s revenue, amounting to $4.3 billion during the reporting period, reflecting growth from the $3.8 billion recorded in 9M of 2022.