Nordex’s 9-month net loss narrows, sales rise; Reviews FY21 Outlook – Quick Facts

(RTTNews) – Nordex Group (NRDXF.PK), a manufacturer of wind turbines, announced on Monday that its nine-month consolidated net loss fell to 103.7 million euros from 107.5 million euros l last year.

The EBIT margin, adjusted for PPP, was minus 0.1%, compared to minus 0.8% last year.

Earnings before interest, taxes, depreciation and amortization or EBITDA increased to 100.7 million euros from 70.8 million euros last year. This translated into an EBITDA margin of 2.5%, compared to 2.2% a year ago.

The financial performance was strongly impacted by the sharp rise in the costs of raw materials and transport.

Sales climbed 25% to 3.96 billion euros from 3.17 billion euros last year. Gross revenue amounted to 3.58 billion euros, up 15.4% from 3.11 billion euros a year ago.

The sales growth is mainly attributable to the significant increase in installation figures and the increase in production in the Projects segment.

Installations grew 46% to 4.9 GW in the first nine months. The order book remained strong at 8.0 billion euros.

Going forward, the company has revised its forecast for 2021 and now expects to post a consolidated turnover of between 5.0 billion euros and 5.2 billion euros and an EBITDA margin of around 1% due to a very volatile macro environment.

The company previously expected consolidated sales of 4.7 to 5.2 billion euros and an EBITDA margin of 4.0 to 5.5%.

The company hopes to overcome the current challenges and continues to aim for its strategic objective of achieving an EBITDA margin of 8% in the medium term, once the external markets have broadly stabilized and the period of adjustment of costs and sale price will be completed.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Ann J. Cox