Wind turbine builder Nordex cannot complain about a lack of demand. However, raw material and transport costs hit the company surprisingly hard.
Increased costs for raw materials and transport eroded profitability at the wind turbine manufacturer Nordex last year.
With an increase in sales of almost 15 percent to 5.4 billion euros, an operating profit (Ebitda) of a good 50 million euros was achieved, the SDax group surprisingly announced on the basis of preliminary figures. In the previous year, the operating result had been almost twice as high.
Efforts to improve climate protection and expand alternative sources of energy are generating strong demand at Nordex. According to the information, incoming orders rose from 6 to almost 8 gigawatts last year. More than half of this came from Europe. However, the growth course is offset by very high costs: especially for sea freight, but also for logistics and raw materials. In the first nine months of 2021, Nordex had therefore posted a net loss of almost 104 million euros. The company will announce what it looks like here with a view to the full year 2021 on March 29 when it presents the final annual figures.
Then company boss José Luis Blanco also wants to publish an outlook for 2022. He was currently only talking about an environment that would continue to be challenging in the short term. In the medium to long term, however, the prospects remain very positive.
Due to a difficult competitive environment and a shift in demand for larger rotor blades, Nordex only announced at the end of February that it intended to stop rotor blade production at the Rostock site at the end of June. Around 600 employees would be affected.
Source: Stern
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
