Nordex reports €165.7m loss in Q1

Richard Heap

May 15, 2023

Nordex has reported a €165.7m operating loss in the first three months of 2023 despite a 9.7% year-on-year increase in first-quarter revenue to over €1.2bn.

The German turbine maker has seen its first-quarter loss widen from a €130.5m loss in the equivalent period of 2022, but first-quarter sales increased 30.5% year-on-year to €1.2m. It attributed the loss to weakness in the global economy and geopolitical risks, including Russia's invasion of Ukraine and the potential intensification of conflict between China and Taiwan.

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