Nordex Posts Order Intake Below Expectations, Shares Fall
Photo: Nordex
German wind turbine maker Nordex (NDX1.HA) said its order intake for 2016 reached 3.3 billion euros ($3.5 billion), below its full-year target, blaming the postponement of a major order in South America.
Shares in the group, which had expected order intake of 3.4 billion euros for 2016, were down 3.2 percent at the bottom of Germany's technology index TecDAX.
Nordex, which last year bought the wind power business of Spain's Acciona, will still meet its working capital ratio target for 2016 of below 5 percent, it said, adding it would release preliminary full-year results at the end of February.
(Reporting by Christoph Steitz)
