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.
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