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Nordex Group starts 2021 with quarterly sales of Eur 1.25 billion

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Operating performance 
In the first quarter of 2021, the Nordex Group once again increased installations output, installing 356 wind turbines in 20 countries with a total capacity of 1,400 MW. In the same quarter of the previous year, 269 wind turbines were installed in 21 countries with a total capacity of 899 MW. Of the installed capacity (in MW), 57 percent was in Europe, 21 percent in North America, 16 percent in Latin America and 6 percent in the rest of the world. As a result, sales in the Projects segment increased from EUR 862.6 million in the prior-year quarter to EUR 1,145.7 million in the reporting period. The Service segment continued its positive development and sales increased by 5.9 percent to EUR 108.0 million.

In the first quarter of 2021, the Nordex Group produced a total of 304 turbines with a rated capacity of just under 1,300 MW compared to 448 turbines with a rated capacity of 1,641 MW in the first quarter of the previous year. In the rotor blade production the number of rotor blades produced rose by 19.3 percent from 321 units in the previous year to 383 units. The Nordex Group always aims to align production precisely with project needs and the resulting delivery commitments.

Overall, the global wind industry started into the fiscal year 2021 with subdued demand. In this environment, the Nordex Group held up well with solid order intake in the Projects segment of 1,247 MW in the first three months of 2021. In the same quarter of the previous year, order intake amounted to 1,644 MW supported by a major project in Norway. The order intake (excluding the Service segment) for the first quarter of 2021 corresponds to a value of EUR 911 million . Of this order volume (in MW), 92 percent was attributable to ten countries in Europe and 8 percent to Mexico (reporting region Latin America). The largest individual markets in Europe were Spain, Turkey, Germany and Finland. At the end of the quarter, the Projects segment had an order backlog of Eur 5.1 billion . At the end of 2020, the Nordex Group had an order backlog of EUR 5.3 billion, which decreased in the course of the first quarter of 2021 due to increased installations. In the Service segment, the order backlog increased further by 8.1 percent from Eur 2.6 billion to Eur 2.8 billion, resulting in a total order backlog for both segments of EUR 7.9 billion.

Key financial figures at a glance
Total assets decreased slightly by 3.0 percent to Eur 4.3 billion as of March 31, 2021 compared to the end of 2020. The equity ratio stood at 16.2 percent . As of the end of March 2021, the Nordex Group had cash and cash equivalents of EUR 742.5 million . Net debt was further reduced from EUR 40.9 million at the end of 2020 to Eur 33.2 million at the end of March and the working-capital-ratio in relation to consolidated sales was at the previous year’s level of minus 7.6 percent.

Nordex stock included in MDAX index
Nordex stock has been included in Deutsche Börse’s MDAX index since March 22, 2021 – in other words, just in time for its 20th stock market anniversary. The reasons for this inclusion were the performance of the Nordex stock, which led to an increased market capitalization, as well as a continuous interest of investors in Nordex, which resulted in higher trading volume (liquidity).

Guidance 2021 confirmed 
The Nordex Group expects business to be positive in 2021 and anticipates an improvement in its key financial indicators. Key factors contributing are a stabilized supply chain and successful concepts for operating effectively and efficiently even under pandemic conditions. In addition, it is assumed that the impact of the pandemic on business activity will be significantly reduced in the course of the year, in particular as a result of the global progress made with the corona vaccinations. Against this backdrop, the Nordex Group confirms its guidance for the financial year 2021 and is forecasting an EBITDA margin of between 4.0 percent and 5.5 percent based on expected revenues of between Eur 4.7 and Eur 5.2 billion. The Group targets to achieve sales of approximately Eur 5 billion in the short term, and it is its strategic task to reach a Group EBITDA margin of 8 percent for the financial year 2022.

“The Nordex Group has started 2021 well prepared. We are encountering continued good demand for our efficient Delta4000 platform, which we are successfully marketing as a global product. Last year, we developed targeted concepts for our business processes under pandemic conditions, especially for production and installation. We are monitoring the processes closely and continuously. Overall, we remain confident for 2021 and expect a positive development of the business performance, while also recognising higher uncertainties resulting from ongoing pandemic situation and general inflationary pressures across commodities,” says José Luis Blanco, Chief Executive Officer (CEO) of the Nordex Group.

Nordex Group key financials

(in EUR million) 31.3.2021 31.3.2020 Change (%)
Sales 1,251.2 964.6 29.7
thereof Service segment 108.0 102.0 5.9
EBITDA 10.4 13.1 -20.6
EBITDA margin 0.8% 1.4% -0.6-ppt
EBIT margin (adjusted for PPA) -1.8% -1.7% -0.1-ppt
Consolidated net profit/loss -54.7 -38.0
Capital expenditure 38.6 37.3 3.5
Free cash flow 10.4 -56.9
Working capital ratio -7.6% -7.5% -0.1-ppt
Liquidity (31.12.) 742.5 778.4 -4.6
Net debt 33.2 156.4
Equity ratio (31.12.) 16.2% 17.5% -1.3-ppt
Order intake (Projects) 910.8 1,184.6 -23.1
Order intake (Service) 108.0 139.4 -22.5
Order book (Projects) 5,090.6 5,819.9 -12.5
Order book (Service) 2,837.2 2,624.5 8.1

Manufacturers of wind turbines

SoyutWind: Powering Tomorrow from Today The Wind Turbine Manufacturer of Türkiye

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SoyutWind: Powering Tomorrow from Today The Wind Turbine Manufacturer of Türkiye

In the heart of Türkiye, a revolution is spinning. Since 2000, SoyutWind, born from the legacy of Çolak Holding, has harnessed the invisible and unleashed the incredible.

We’re not just building turbines; we’re engineering the future.

At our factory in Ankara-TÜRKİYE, spanning 135,000 square meters with 15,000 square meters of indoor space, we work diligently every day alongside our skilled engineers and manufacturing team, knowing that we are shaping the future.

Our mission is to make renewable energy sources more accessible and effective, guided by our commitment to sustainable total quality management.

We continuously develop and rigorously test our wind turbine technologies to meet,  exceeding the highest industry standards. Our international certifications reflect our unwavering commitment to sustainability and quality.

Our products, ranging from grid-connected wind turbines to residential battery-powered wind turbines and the Soyut WindMill agricultural water pump, are all developed with an unwavering commitment to innovation.

With our 50 years of industrial heritage, 25 years of wind turbine manufacturing experience, robust financial foundation, skilled and experienced team, an extensive domestic and international service network, and exceptional production and engineering capabilities, we proudly lead the way with groundbreaking achievements.

We face the future with confidence.

• Pioneers of direct drive wind turbines up to 1 MW – a first in Türkiye and the region

• Turbine capacity reaching up to 2.5 MW

• 50 years of industrial mastery

• 25 years of relentless wind energy innovation

Our sprawling 135,000-square-meter facility isn’t just a factory. It’s where dreams take flight.

SoyutWind stands as Türkiye’s premier local wind turbine manufacturer, holding the distinction of being the country’s first and only. Our international certifications attest to our world-class standards, while our expansive network spans nations, empowering communities. Our arsenal of innovation includes:

1.Grid-connected titans of power

2.Residential turbines bringing freedom to homes

3.Soyut WindMill – revolutionizing agriculture, one pump at a time

But our true power? It’s not in our machines; it’s in our people.

A team is driven not by the wind but by passion. By vision. By the unyielding belief that we can change the world, one turbine at a time.

With every rotation, we’re not just generating electricity. We’re powering dreams. Energizing economies. Breathing life into a sustainable future.

From the hills of Anatolia to the far corners of the globe, SoyutWind isn’t just riding the winds of change; we’re creating them.

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Turbine Manufacturing

Powering the Future: LEITWIND’s Customizable Wind Turbines

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Powering the Future: LEITWIND's Customizable Wind Turbines

LEITWIND, the only Italian manufacturer of megawatt-class wind turbines (ranging from 250 kW to 3,000 kW), stands out in the market for its ability to customize products, always aiming to find the most efficient and reliable solutions for its customers. This customer-focused approach has led to the erection of over 400 wind turbines worldwide, including 10 installations in Turkey

This success is driven by continuous investments in R&D and the support of LEITWIND’s parent company, High Technology Industries (HTI) Group—a global leader in the winter sports sector with brands like LEITNER, POMA, DEMACLENKO, and PRINOTH. The Group’s high standards of quality and reliability are recognized worldwide, with a global presence that includes 21 production sites, 108 branches, and 138 sales and service centers.

There are many factors that have made LEITWIND so competitive in the Turkish market: state-of- the-art technology, the offer of a complete all-inclusive package that includes, in addition to the standard supply of wind turbines, also the support during the authorization and construction procedures and the strong local presence: in fact, after LEITNER TURKEY, which opened in May 2012 to follow the ropeway industry, the subsidiary LEITWIND TURKEY opened its doors in Bursa.

With more than 20 years of expertise in megawatt-class wind turbines, LEITWIND differentiates itself from competitors through its “medium-sized” product portfolio (250 kW-3,000 kW), offering advantages such as easier transport, installation, and long-term management. Additionally, LEITWIND turbines are designed with a modular concept, allowing for adaptation to both customer needs and specific site requirements.

LEITWIND remains committed to continuous product optimization, with the LTW90 wind turbine (500-2,000 kW) standing as a prime example and the flagship model in LEITWIND’s portfolio. Boasting a large rotor surface, the LTW90 excels in energy production, even in low-wind areas, making it an ideal choice for single-installation projects. In 2023, the first LTW90 with a capacity of 1,500 kW was successfully installed in Lüleburgaz (Kırklareli).Looking ahead, a 2,000 kW LTW90 installation is planned for 2025, underscoring the global significance and competitive edge of the LTW90 model in the

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Turbine Manufacturing

Innovation and Sustainability: LEITWIND transforms the Turkish Wind Energy Market

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Innovation and Sustainability: LEITWIND transforms the Turkish Wind Energy Market

Wind energy plays a key role in achieving our country’s renewable energy goals. LEITWIND, an Italian company specialized in the design, installation, and maintenance of megawatt-class wind turbines (ranging from 250 kW to 3,000 kW), thanks to its investments in R&D and its wide product porfolio, is able to offer the most suitable solution for every need, ensuring the highest quality and reliability.

A clear example of this commitment is the development of the configuration LTW90 with a nominal power of 1500 kW. With its large rotor diameter, this turbine ensures significant energy production even in low wind conditions, setting it apart from competitors in the same market segment.

In spring 2023, the first installation of this wind turbine in Turkey was successfully completed in the municipality of Lüleburgaz, located in the province of Kırklareli in the Marmara region. The average annual energy production of this wind turbine’ can meet the annual consumption of over 1,100 Turkish households. Furthermore, the wind turbine is equipped with D4.1 generator, the most advanced generator model, which offers significant benefits in electrical power control, efficient use of brakes , compliance with grid codes, and reduced noise emissions.

“There are several factors that have made LEITWIND so competitive in the Turkish market: cutting- edge technology, the approach to investments in line with European standards, and, last but not least, a strong local presence: in fact, after LEITNER TURKEY, inaugurated in May 2012 for the ropeway sector, LEITWIND’s Turkish subsidiary opened its doors in Bursa LEITWIND differentiates itself from its competitors in every single phase of the project , from the quickness of installation to the wide range of services offered, from the quality and reliability of the products to the quick return on investment and definitely for the know-how shared with the HTI Group, to which it belongs. This has allowed us to successfully install 10 LEITWIND wind turbines in Turkey and enables us to work with an increasing number of local investors,” stated Can Güven, Sales Manager Turkey.

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