July 28, 2016 / 6:24 AM / 2 years ago

UPDATE 1-Nordex ups margin guidance following Acciona wind takeover

* Now sees EBITDA margin at 8.3-8.7 pct in 2016

* Company acquired Acciona’s wind business in Q2

* Shares up 3.5 pct pre-market (Adds shares, CEO quote, context)

FRANKFURT, July 28 (Reuters) - German wind turbine maker Nordex on Thursday raised its profit margin guidance for 2016, pointing to higher earnings following the takeover of Acciona’s wind power business earlier this year.

Shares in the company were indicated to open 3.5 percent higher in pre-market trade, making them the top gainers among German technology stocks.

The group, traditionally strong in Europe, unveiled in October plans to buy AWP, the wind power assets of Spain’s Acciona, keen on its strong presence in the United States and South America.

“I am confident that we can continue to expand our new business and sales in the second half of the year. There are already signs that new markets and the United States will make a considerably greater contribution,” Chief Executive Lars Bondo Krogsgaard said in a statement.

Nordex, which consolidated AWP from April 1, now expects a margin on earnings before interest, tax, depreciation and amortisation (EBITDA) of 8.3 to 8.7 percent, having previously targeted more than 7.5 percent.

Analysts, on average, expect a margin of 8.2 percent. (Reporting by Christoph Steitz; Editing by Maria Sheahan)

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