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Nordex Orders Up Sharply in Q2 2021 - Mega Order from Australia Secured

Hamburg, Germany - Following a decline in orders in the first quarter of 2021 (Q1 2021), wind turbine manufacturer Nordex is again recording a significant increase in orders in the second quarter of 2021 (Q2 2021). Right at the beginning of Q3, Nordex ignites the turbo with a mega order this week. The stock climbs.

Nordex Group receives orders for 1,534 megawatts in Q2 2021

The Nordex Group completed the second quarter of 2021 with order receipts of 1,534.1 megawatts (MW). Compared with the same period in Corona year 2020, this is an increase of around 73 percent (Q2 2020: 888 MW). The firm order intake in the projects segment (excluding service business) thus reached a total volume of 2,781.6 MW in the first half of 2021. Compared to the first 6 months of the previous year 2020, this corresponds to an increase of about 10 percent (H1 2020: 2,531.9 MW).

Between April and June 2021, customers ordered a total of 297 wind turbines for projects in nine countries. Of the total order volume in the second quarter, Europe accounted for approximately 54 percent and Latin America for approximately 46 percent. The strongest individual markets in Europe were Finland, Germany, the Netherlands and Spain; for Latin America, two high-volume orders came from Brazil. Projects in Europe included the order from the Swedish wind farm developer OX2 for the delivery of 15 N117/3000 turbines for the 45 MW "Huszlew" wind farm in the province of Mazovia in eastern Poland, which was still reported for the end of June this week.

On the product side, new business in the second quarter again largely focussed on the various turbine types of the Delta4000 series with around 89 percent of the total order intake (in MW). In the first half of 2021, the share was around 82 percent overall (H1 2020: 79 percent). With 170 turbines and a combined output of 969 MW, more than 63 percent of the firm new orders are for the latest turbine model N163/5.X in the Delta4000 series alone.

Nordex scores with 923 MW order in Australia

At the beginning of the third quarter, Nordex today (07.07.2021) seamlessly continued the positive performance of the second quarter with the confirmation of the firm order for the Australian 923 MW mega wind project "MacIntyre". The subsidiary of Nordex customer Acciona Energía, Acciona Energía Australia Global PTY LTD, has ordered 162 Nordex N163/5.X turbines of the Delta4000 series. Nordex will supply the turbines in the 5.7 MW operating mode.

In mid-June, Nordex had already reported in an ad hoc release on two potential orders for a capacity of 1 GW from Australia for the "MacIntyre" wind development area in the Australian state of Queensland. In addition to the "MacIntyre" wind farm with an output of approx. 923 MW, the "Karara" wind farm with approx. 103 MW also belongs to the wind farm complex. The total capacity of both wind farms thus amounts to 1,026 MW.

Share price rises after record order

After barely benefiting from the order announcements for the second quarter, Nordex stock has risen in yesterday's trading following the announcement of the mega-Australia order. The stock gained 3.5 percent to EUR 18.17 (closing price, 07.07.2021, Stuttgart Stock Exchange). In today's trading, the share price turned negative again. The share is currently trading at 17.72 euros, down 2.48 per cent (12:43, 08.07.2021, Stuttgart Stock Exchange).



Source: IWR Online, 08 Jul 2021