Nordex

Nordex has agreed to acquire Dutch engineering specialist C1 Connections, thereby taking over the patented C1 Wedge Connection and a specialized engineering team. The technology is intended to give Nordex additional options for building onshore wind towers and to facilitate local production of pipe segments. C1’s offshore business is not part of the transaction and will continue to be operated separately; the purchase price was not disclosed. The acquisition complements the strategy to strengthen the onshore business following strong quarterly results and a large contract in Albania. » More on deraktionaer.de

Nordex has received from Verbund the order to supply and install twelve N163/6.X turbines (84 MW) for the Spille wind farm in Albania; this includes a 15-year premium service contract. It is the MDAX group's first project in Albania and is intended to support the expansion of wind energy there. Barclays slightly raised its price target from €36 to €38, while the share reached a technical buy signal after strong quarterly figures. » More on deraktionaer.de

After strong quarterly results, Nordex looks robust and is aiming to break above the €42 mark despite a weak market environment. Profitability and margins have improved markedly, and the outlook remains positive. Jefferies sees a price target of €63, Metzler and Oddo BHF 48 and €44 respectively, meaning analysts still see substantial upside potential. » More on deraktionaer.de

Nordex almost tripled its net profit in the third quarter from about €52 million to €147 million, revenue rose 28% to €2.2 billion, and EBITDA climbed to €278.2 million with a margin of 12.7%. The order backlog grew to €19.3 billion. The company raised its full-year EBITDA margin forecast to 11.5–12.5% and highlighted the expansion of its global presence. Jefferies reiterated its buy rating with a €63.00 price target; the stock rose after the figures and broke above the 200-day moving average. » More on deraktionaer.de

Wind turbine manufacturer Nordex recorded orders of 2,810 MW in the third quarter (+29.5% y/y) and reached an order intake of 7,733 MW (+16.1%) after nine months. The largest markets were Turkey and the US, while the average selling price per MW fell from €0.97 million to €0.90 million. With the upcoming quarterly report, Nordex must show that the full project pipeline can also be executed profitably. » More on finanzen.net