German wind turbine manufacturer Nordex on Tuesday reported net loss of €13.1 million ($14.1 million) for the first quarter.
That was significantly narrower than the company's €214.8 million loss in the comparable quarter last year, primarily helped by growth in sales.
Earnings before interest, taxes, depreciation, and amortization or EBITDA for the quarter was €52.1 million compared with a loss of €114.9 million last year.
Sales for the first quarter increased 29.3% to €1.574 billion from €1.217 billion in the previous year.
Order intake excluding the Service segment grew to €1.765 billion from €917 million euros.
Looking ahead, Jose Luis Blanco, CEO of the Nordex Group said, "After several years of high volatility and fluctuations, we now expect a more stable earnings and margin trend over the course of the year."
