News wire — Wind turbine maker Nordex on Monday reported second quarter core earnings that were above analysts’ consensus forecasts.
The German onshore wind turbine company posted earnings before interest, tax, depreciation and amortisation (EBITDA) of 108.2 million euros ($127.09 million), above analyst expectations of 102 million euros in a company-compiled consensus. That was up about 64% from the same period last year.
Earlier in July, Nordex had reported a record second quarter order intake.
The company, which competes with GE and Siemens Energy in the market for onshore wind turbines, secured 2.3 gigawatt of orders in the quarter. Its strongest individual markets were Germany, Turkey and Latvia.
Nordex also confirmed its full year guidance on Monday.
“I am confident for the remainder of the year,” Chief Executive José Luis Blanco said in a statement.
($1 = 0.8514 euros)
Reporting by Marleen Kaesebier in Gdansk; editing by Matt Scuffham – Reuters
