Nordex, a manufacturer of wind turbines, reported earnings for the second quarter that exceeded analysts' expectations.

German onshore turbine company reported earnings before interest tax, depreciation, and amortization (EBITDA), of 108.2 millions euros ($127.09million), exceeding analyst expectations, which were 102 million euro in a company-compiled majority. This was an increase of 64% compared to the same period in last year.

Nordex had earlier in July released a statement that stated:

reported

Order intake for the second quarter is at a record high.

In the first quarter, the company secured 2.3 gigawatts of orders. It competes with GE Energy and Siemens Energy on the market for wind turbines. Germany, Turkey, and Latvia were its strongest markets.

Nordex confirmed on Monday its guidance for the full year.

In a press release, Chief Executive Jose Luis Blanco stated that he was confident about the rest of the year. ($1 = 0.8514 euro) (Reporting and editing by Matt Scuffham in Gdansk)

(source: Reuters)