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Nordex Q2 Order Intake Rises; Stock Up

Shares of Nordex AG (NRDXF.PK) were gaining around 4 percent in the morning trading in Germany after the wind turbine maker reported Thursday higher order intake in the second quarter with strong demand. Separately, the company said it received order for 59 MW in Finland from Falck Renewables.

In its second quarter, Nordex's total capacity amounted to 1.84 GW, including a project from the USA of around 200 MW, while last year's total capacity was 1.53 GW. Between April and June 2022, customers ordered a total of 346 wind turbines for projects in fifteen countries.

Of the total order volume in the quarter, Europe accounted for around 58 percent, Latin America for around 31 percent and North America for 11 percent. The strongest individual markets in Europe were Germany, Poland and Spain.

In the first half, the firm order intake in the Projects segment, excluding service business, reached a volume of 3.00 GW, up from 2.78 GW a year ago.

Further, Nordex said it received two orders from the Finnish subsidiary of Falck Renewables for 10 turbines totalling 59 MW in Finland. The company will deliver five N163/5.X turbines for the "Mustalamminmäki" and "Koiramäki" projects, respectively. The two orders also include a Service contract for maintenance of the turbines covering a period of ten years.

In Germany, Nordex shares were trading at 8.14 euros, up 3.51 percent.

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