Nordex increased its earnings and order intake last year, while its Ebitda margin was squeezed, according to the manufacturer鈥檚 preliminary results for 2019.
The company鈥檚 full-year Ebitda rose 21.7% year-on-year to 鈧123.8 million, and sales increased 33.3% to 鈧3.28 billion.
However, its Ebitda margin fell 0.3 percentage points to 3.8%. This was in the manufacturer鈥檚 expected range of 3-5%, Nordex added.
Nordex said its 鈥渉igh order intake and stringent working capital management had a positive impact on these figures鈥.
The manufacturer did not reveal its net profit or loss for the full year.Nordex recorded a consolidated net loss of 鈧76.5 million for the first nine months of 2019, according to its third-quarter results released in November.
Jos茅 Luis Blanco, Nordex CEO, said that the 2019 financial year was 鈥渋n line鈥 with the company鈥檚 expectations and that Nordex achieved all of its guidance targets for the year.
Its order intake was up 31%聽from 2018, with the manufacturer recording 6.21GW of turbine agreements last year.
The bulk (51%) of Nordex orders came from Europe, while it also received orders from North America (28%), Latin America (18%) and Australia (3%).
Europe and North America contributed increasing shares of Nordex鈥檚 order book last year, up 9.5 and 12.9 percentage points from 2018, respectively.
Meanwhile, Latin America鈥檚 share of orders declined by seven percentage points.
The manufacturer鈥檚 increased order intake in 2019 also enabled it to invest more during the year, Nordex spent 鈧172.5 million in 2018, up 52.9% and above its revised investment forecast.
These investments were mostly made in ramping up production of rotor blades in Mexico and Spain and nacelles in India, as well as in tools and equipment for international projects and in product development.
In August 2019, Nordex stated that its 鈥渄ynamic order intake鈥 had enabled it to raise its forecast for annual investments from around 鈧120 million to 鈧160 million鈥.
Nordex is due to release its final audited figures on 24 March.
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