Nordex Reports Q3 Order Intake Of Over 1.4 Gigawatts; Stock Up

Shares of Nordex AG (NRDXF.PK) were gaining around 5 percent in the early morning trading in Germany after the wind turbine maker Friday said it achieved order intake of over 1.4 gigawatts in the third quarter amid challenges. The orders, however, were lower than last year, but average selling price were higher.

José Luis Blanco, CEO of Nordex Group, said, "We recorded a solid order intake in the third quarter and this in a challenging environment. In this context, demand for our products, especially, our turbine type N163/5.X, has proven quite robust in our established markets in Europe and Latin America despite increasing turbine prices."

In the third quarter, Nordex received orders for 227 wind turbines with a total rated output of 1,441 megawatts or MW, compared to 389 wind turbines with 1,829 MW a year ago. The company received orders from eleven countries, mainly from Brazil, Germany, Finland, Poland and Spain.

The average selling price or ASP in euros per megawatt of output increased significantly to 0.90 million euros/MW from last year's 0.69 million euros/MW.

Overall, Nordex generated order intake, excluding service business, of 4,424 MW in the first nine months, down from 4,610 MW in the previous year.

Nordex has installed over 41 GW of wind power capacity in over 40 markets and generated revenues of approximately 5.4 billion euros in 2021.

In Germany, Nordex shares were trading at 8.25 euros, up 5.04 percent.

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