Nordex To Increase Order Intake By Over 30 Percent In 2021
Hamburg, Germany - Wind turbine manufacturer Nordex has presented convincing figures for its order development in fiscal year 2021. However, the stock is unable to benefit from this in a generally weak stock market environment.
Nordex order intake climbs to almost 8,000 MW
RENIXX Group Nordex recorded a significant increase in demand in fiscal 2021. Overall, the wind turbine manufacturer increased its order intake by 32 percent last year to a total of 7,950 megawatts (7.95 GW) (2020: 6,020 MW). Orders included a total of 1,636 wind turbines (2020: 1,331 wind turbines). The share of efficient and competitive Delta4000 wind turbines, with their now seven different product types, amounted to 83 percent for the full year (2020: 81 percent).
The fourth quarter accounted for 678 wind turbines (Q4 2020: 491) with a total capacity of approximately 3,300 MW (Q4 2020: 2,300 MW). The Delta4000 series accounted for around 88 percent of orders in the fourth quarter (Q4 2020: 81 percent).
Core market region Europe in 2021 ahead of Latin America, Australia and North America
The most important market region in 2021 was Europe. In terms of output volume, a total of 16 countries accounted for 58 percent of total orders received. The largest individual European markets were Germany, Finland, France, Poland and Turkey. The Latin America region recorded 21 percent of the order volume and in Australia ("Rest of the World" region) Nordex achieved a share of 12 percent with its largest single order in the company's history to date of a good 1,000 MW. The United States, and thus the North America region, accounted for 9 percent of orders. In the final quarter of 2021, Europe was again the most important region with a share of 52 percent, ahead of Latin America with a market share of 27 percent and the USA with 21 percent.
"Order intake momentum in the fourth quarter of 2021 was, as we expected, very strong. Numerous orders from Europe and other core markets as well as the major order from Australia have helped us to build a strong order book in 2021. Provided the macro environment evolves as encouraging as expected, we continue to see good prospects for our products, which stand for carbon-free electricity production", said Nordex CEO José Luis Blanco.
About the Nordex Group
Listed on the RENIXX World renewable stock index, Nordex Group has installed over 37,000 MW (37 GW) of wind power capacity in over 40 markets. In 2020, the company generated sales of approximately EUR 4.6 billion. Nordex currently employs a workforce of approx. 8,500. The manufacturing network includes plants in Germany, Spain, Brazil, the USA, India and Mexico. The product range focuses on onshore turbines primarily in the 4 to 6.X MW class, which are designed to meet the market requirements of countries with limited expansion areas and regions with limited grid capacity.
Nordex stock in the red
In the general stock market environment weighed down by interest rate worries and geopolitical tensions, almost all RENIXX stocks have recorded losses so far in today's trading. Despite the good figures, the price of Nordex stock is down 3.2 percent to EUR 13.80 by midday (Jan. 18, 2022, 11:30 a.m., Stuttgart Stock Exchange).
Source: IWR Online, 18 Jan 2022