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.
Turbine assembly rose from 698 MW in the prior-year quarter to 1,641 MW in the first three months of 2020. The number of rotor blades produced by the Company was up marginally on the prior-year figure, rising to 321 from 300 units in the same quarter of the previous year. The Nordex Group’s production is always aligned with the delivery obligations associated with the projects.
In the first three months of 2020, the Nordex Group increased its order intake in the Projects segment 1,643.9 MW (Q1/19: 1,035.1 MW). At 1,292 MW, the order volume in Europe was particularly high, making up nearly 79 percent overall. Latin America accounted for 352 MW or 21 percent. The strongest individual markets were Norway, Chile, the United Kingdom, Turkey and Finland. At the end of the first quarter of 2020, the Nordex Group’s order book in the Projects segment had a value of EUR 5.8 billion (31 March 2019: EUR 4.4 billion), while its order book in the Service segment had a value of EUR 2.6 billion (31 March 2019: EUR 2.2 billion).
The Covid-19 pandemic led to numerous restrictions and measures being imposed by governments and public authorities persisting worldwide for an incalculable period of time. This caused major interruptions in the Nordex Group and led to adjustments being made in important parts of the business such as procurement and production. The Management Board of Nordex SE decided to withdraw its guidance for financial year 2020 on 5 May 2020. The original guidance was published on 24 March 2020 in the 2019 Annual Report and was subject to possible impacts by the Covid-19 pandemic. In the current situation and since it is uncertain for how long it continues to exist it is not foreseeable when a new guidance for the current financial year 2020 will be possible.
Nordex SE is a European company that designs, sells and manufactures wind turbines. The company’s headquarters is located in the German city of Rostock while management is situated in Hamburg.
(Source and image: Nordex)