Like its rivals Repower and Vestas, Nordex had been suffering from overcapacities and sinking prices in the sector. Nonetheless, it gave a positive outlook for this year, saying 2013 revenues could reach between 1.2 and 1.3 billion euros on the back of record orders.
Like its rivals Repower and Vestas, Nordex had been suffering from overcapacities and sinking prices in the sector. Nonetheless, it gave a positive outlook for this year, saying 2013 revenues could reach between 1.2 and 1.3 billion euros on the back of record orders.
Wind turbine maker Nordex of Germany has reported huge losses in its operational business after shouldering massive restructuring costs in overseas markets. But it said the company's outlook was bright.
German wind turbine producer Nordex reported Monday massive restructuring costs in China and the US left the company deeply in the red in 2012.
Preliminary figures revealed the Hamburg-based group was likely to post an operational loss of 6.1 million euros ($79.4 million) for 2012, after already logging a loss of 27 million euros in the previous year.
Nordex said negative one-off effects amounted to 75 million euros and came about partly because of production problems in the US and China. The company had announced earlier it would …
... more [truncated due to possible copyright]Wind turbine maker Nordex of Germany has reported huge losses in its operational business after shouldering massive restructuring costs in overseas markets. But it said the company's outlook was bright.
German wind turbine producer Nordex reported Monday massive restructuring costs in China and the US left the company deeply in the red in 2012.
Preliminary figures revealed the Hamburg-based group was likely to post an operational loss of 6.1 million euros ($79.4 million) for 2012, after already logging a loss of 27 million euros in the previous year.
Nordex said negative one-off effects amounted to 75 million euros and came about partly because of production problems in the US and China. The company had announced earlier it would close down its rotor blade production facilities in China's Dongying after it failed to get a strong business partner on board for continued operations on the ground.
Germany's wind energy industry had a good year in 2012, but there are clouds on the horizon. Government policy and international market developments might make 2013 rather more difficult.
Like its rivals Repower and Vestas, Nordex had been suffering from overcapacities and sinking prices in the sector. Nonetheless, it gave a positive outlook for this year, saying 2013 revenues could reach between 1.2 and 1.3 billion euros on the back of record orders.
Nordex already posted a 17.3-percent rise in sales in 2012 thanks to brisk business in Europe and South Africa.
Investors appeared unfazed by the company's operational losses, focusing instead on the firm's growth prospects. Nordex shares rose by almost 10 percent in early trading Monday, seeing the TecDax-listed company's stock reach its highest level in 11 months.