Nordex Q1 Orders Dip to 1.9GW, Sales Price Climbs

Key Order Metrics Show Mixed Results

Nordex Group reported a first-quarter order intake of 1.9 gigawatts, a decrease from the previous year, but saw a notable increase in its average sales price per megawatt. This performance reflects a shifting dynamic in the wind energy market.

First Quarter 2024 Performance Overview

For the period from January to March 2024, the German wind turbine manufacturer secured orders for 292 units across 13 countries. The order volume of 1,869 megawatts represents a decline from the 2,182 megawatts recorded in the same quarter of 2023. Germany, Türkiye, and Sweden were the primary markets driving demand.

Impact on Pricing and Profitability

Despite the lower volume, Nordex increased its average sales price to 0.91 million euros per megawatt, up from 0.87 million euros in the prior year. The company attributes this price strength to a favorable project scope and a strategic regional mix, indicating a focus on more profitable contracts.

Summary and Outlook

CEO José Luis Blanco described the quarter as a 'robust start' and expressed confidence in the company's full-year order momentum. The firm continues to see a healthy order pipeline, particularly in its key European and North American markets, suggesting a stable outlook despite the quarterly dip.

FAQ

Q: How much was Nordex's order intake in Q1 2024?
A: Nordex secured orders totaling 1,869 megawatts, or approximately 1.9 gigawatts.

Q: Did Nordex's sales price per megawatt increase or decrease?
A: The average sales price increased from 0.87 million to 0.91 million euros per megawatt.

Q: Which countries were the strongest markets for Nordex in Q1?
A: The strongest individual markets were Germany, Türkiye, and Sweden.

Source: Investing.com