EnergyWatch

Nordex anticipates decline in turbines sales for the year

Increased price pressure on growth markets in particular have prompted the German wind turbine manufacturer to downgrade targets for this year's and next year's business.

Germany's Nordex has lost some of its faith in times to come. The wind turbine manufacturer, which acquired Spain's Acciona last year, announced Thursday that it expects this year's sales to land in the range of EUR 3.1 billion and EUR 3.3 billion, with an EBITDA margin of 7.2 to 8.2 percent. This is a setback from the outlook for this year which comes to EUR 3.35 billion with an EBITDA margin of 8.3 percent.

This is the second time recently that the German company announces less-than-great news to its investors. During the presentation of the third quarter interim report in November, the manufacturer trimmed down the outlook for 2016 so that it came to the low end of the announced range, both in revenue and earnings.

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