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14.05.2024 07:00:56 - dpa-AFX: EQS-News: Nordex Group starts the year with solid sales growth and an EBITDA margin of 3.3%; Full year guidance confirmed (english)
Nordex Group starts the year with solid sales growth and an EBITDA margin of
3.3%; Full year guidance confirmed
EQS-News: Nordex SE / Key word(s): Quarter Results
Nordex Group starts the year with solid sales growth and an EBITDA margin of
3.3%; Full year guidance confirmed
14.05.2024 / 07:00 CET/CEST
The issuer is solely responsible for the content of this announcement.
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Nordex Group starts the year with solid sales growth and an EBITDA margin of
3.3%; Full year guidance confirmed
* Strong order intake of 2.1 GW
* 29% growth in sales year over year
* First quarter EBITDA reaches EUR 52 million
* Working capital ratio at minus 7.0 percent
Hamburg, 14 May 2024. The Nordex Group (ISIN: DE000A0D6554) generated sales
of EUR 1,574 million, which corresponds to a growth of 29 percent (Q1/2023:
EUR 1,217 million).
Earnings before interest, taxes, depreciation, and amortization (EBITDA) in
the first quarter amounted to EUR 52.1 million (Q1/2023: minus EUR 114.9
million), resulting in an EBITDA margin of 3.3 percent (Q1/2023: minus 9.4
percent).
Operating performance
The Nordex Group erected 227 wind turbines in 13 countries with an aggregate
output of 1,103 MW in the first quarter of 2024. In the prior-year quarter,
276 wind turbines with an aggregate output of 1,319 MW were installed in 19
countries. In terms of installed capacity (in MW), 71 percent was
attributable to Europe, 19 percent to Latin America, 10 percent to the rest
of the world. As a result of an improving orderbook, sales in the Projects
segment rose by 32.3 percent to EUR 1,413 million in the reporting period
(Q1/2023: EUR 1,068 million). The Service segment also continued its
positive trend with an increase in sales of 9.3 percent to EUR 166 million
(Q1/2023: EUR 152 million).
Production output in turbine assembly was 199 turbines (Q1/2023: 217 units)
with a nominal output of 1,171 MW (Q1/2023: 1,078 MW). The Company produced
313 rotor blades (Q1/2023: 233 units) with external suppliers manufacturing
an additional 726 rotor blades (Q1/2023: 888 rotor blades).
Order intake (excluding the Service segment) grew to EUR 1,765 million
(Q1/2023: EUR 917 million), with total nominal output increasing to 2,086 MW
(Q1/2023: 1,021 MW). This order volume was entirely attributable to eleven
countries, with Germany, South Africa and Lithuania as the largest
individual markets. The order book in the Projects segment grew to EUR 7.3
billion by the end of the quarter (Q1/2023: EUR 6.5 billion). The order book
in the Service segment increased by 13.6 percent, from EUR 3.4 billion to
EUR 3.8 billion. The total order book for both segments thus came to EUR
11.1 billion (Q1/2023: EUR 9.9 billion).
Key financial figures at a glance
As of the end of March 2024, the Nordex Group had cash and cash equivalents
of EUR 661 million (31 December 2023: EUR 926 million) and a net cash
position of EUR 359 million (31 December 2023: EUR 631 million). The working
capital ratio as a percentage of consolidated sales was minus 7.0 percent
(31 December 2023: minus 11.5 percent). Compared with the end of the
previous year, total assets fell slightly by 4.3 percent to EUR 5.2 billion
as of 31 March 2024 (31 December 2023: EUR 5.4 billion). The equity ratio
increased to 18.6 percent (31 December 2023: 18.0 percent).
Overall, we have made a strong start on our path towards improving our
margins and achieving more stable results. We have executed projects with
higher profitability and found a stable cost environment, meaning that we
have significantly improved our performance compared to the previous year.
After several years of high volatility and fluctuations, we now expect a
more stable earnings and margin trend over the course of the year," says
José Luis Blanco, CEO of the Nordex Group.
The quarterly statement for the first quarter of 2024 is now available for
download on the Nordex Group's website in the Investor Relations section
under "Publications" (ir.nordex-online.com).
Nordex Group key financials
Contact for press inquiries:
Nordex SE
Felix Losada
Phone: 040 / 300 30 - 1141
flosada@nordex-online.com
Contact for investor inquiries:
Nordex SE
Anja Siehler
Phone: +49 162 3515 334
asiehler@nordex-online.com
Tobias Vossberg
Phone: +49 173 457 3633
tvossberg@nordex-online.com
Torben Rennemeier
Phone: +49 152 3461 7954
trennemeier@nordex-online.com
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14.05.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS
News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The EQS Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com
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End of News EQS News Service
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1901829 14.05.2024 CET/CEST
3.3%; Full year guidance confirmed
EQS-News: Nordex SE / Key word(s): Quarter Results
Nordex Group starts the year with solid sales growth and an EBITDA margin of
3.3%; Full year guidance confirmed
14.05.2024 / 07:00 CET/CEST
The issuer is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
Nordex Group starts the year with solid sales growth and an EBITDA margin of
3.3%; Full year guidance confirmed
* Strong order intake of 2.1 GW
* 29% growth in sales year over year
* First quarter EBITDA reaches EUR 52 million
* Working capital ratio at minus 7.0 percent
Hamburg, 14 May 2024. The Nordex Group (ISIN: DE000A0D6554) generated sales
of EUR 1,574 million, which corresponds to a growth of 29 percent (Q1/2023:
EUR 1,217 million).
Earnings before interest, taxes, depreciation, and amortization (EBITDA) in
the first quarter amounted to EUR 52.1 million (Q1/2023: minus EUR 114.9
million), resulting in an EBITDA margin of 3.3 percent (Q1/2023: minus 9.4
percent).
Operating performance
The Nordex Group erected 227 wind turbines in 13 countries with an aggregate
output of 1,103 MW in the first quarter of 2024. In the prior-year quarter,
276 wind turbines with an aggregate output of 1,319 MW were installed in 19
countries. In terms of installed capacity (in MW), 71 percent was
attributable to Europe, 19 percent to Latin America, 10 percent to the rest
of the world. As a result of an improving orderbook, sales in the Projects
segment rose by 32.3 percent to EUR 1,413 million in the reporting period
(Q1/2023: EUR 1,068 million). The Service segment also continued its
positive trend with an increase in sales of 9.3 percent to EUR 166 million
(Q1/2023: EUR 152 million).
Production output in turbine assembly was 199 turbines (Q1/2023: 217 units)
with a nominal output of 1,171 MW (Q1/2023: 1,078 MW). The Company produced
313 rotor blades (Q1/2023: 233 units) with external suppliers manufacturing
an additional 726 rotor blades (Q1/2023: 888 rotor blades).
Order intake (excluding the Service segment) grew to EUR 1,765 million
(Q1/2023: EUR 917 million), with total nominal output increasing to 2,086 MW
(Q1/2023: 1,021 MW). This order volume was entirely attributable to eleven
countries, with Germany, South Africa and Lithuania as the largest
individual markets. The order book in the Projects segment grew to EUR 7.3
billion by the end of the quarter (Q1/2023: EUR 6.5 billion). The order book
in the Service segment increased by 13.6 percent, from EUR 3.4 billion to
EUR 3.8 billion. The total order book for both segments thus came to EUR
11.1 billion (Q1/2023: EUR 9.9 billion).
Key financial figures at a glance
As of the end of March 2024, the Nordex Group had cash and cash equivalents
of EUR 661 million (31 December 2023: EUR 926 million) and a net cash
position of EUR 359 million (31 December 2023: EUR 631 million). The working
capital ratio as a percentage of consolidated sales was minus 7.0 percent
(31 December 2023: minus 11.5 percent). Compared with the end of the
previous year, total assets fell slightly by 4.3 percent to EUR 5.2 billion
as of 31 March 2024 (31 December 2023: EUR 5.4 billion). The equity ratio
increased to 18.6 percent (31 December 2023: 18.0 percent).
Overall, we have made a strong start on our path towards improving our
margins and achieving more stable results. We have executed projects with
higher profitability and found a stable cost environment, meaning that we
have significantly improved our performance compared to the previous year.
After several years of high volatility and fluctuations, we now expect a
more stable earnings and margin trend over the course of the year," says
José Luis Blanco, CEO of the Nordex Group.
The quarterly statement for the first quarter of 2024 is now available for
download on the Nordex Group's website in the Investor Relations section
under "Publications" (ir.nordex-online.com).
Nordex Group key financials
(in EUR million) 31.3.2024 31.3.2023 Change (%)
Sales 1,574.2 1,217.1 29.3
thereof Service segment 165.9 151.8 9.3
EBITDA 52.1 -114.9 n/a
EBITDA margin 3.3 -9.4 12.7 PP
EBIT margin 0.4% -13.6% 14.0 PP
Consolidated net profit/loss -13.1 -214.8 n/a
Capital expenditure 33.9 24.9 36.1
Free cash flow -253.7 -114.8 -121.2
Order intake (Projects) 1,764.9 917.3 92.4
Order intake (Service) 308.9 250.4 23.3
Order book (Projects) 7,333.3 6,458.1 13.6
Order book (Service) 3,791.3 3,405.1 11.3
(in EUR million) 31.3.2024 31.12.2023 Change (%)
Working capital ratio -7.0% -11.5% -4.5 PP
Cash and cash equivalents 661.1 925.9 -28.6
Net cash position 359.0 631.4 -43.1
Equity ratio 18.6% 18.0% 0.6 PP
Contact for press inquiries:
Nordex SE
Felix Losada
Phone: 040 / 300 30 - 1141
flosada@nordex-online.com
Contact for investor inquiries:
Nordex SE
Anja Siehler
Phone: +49 162 3515 334
asiehler@nordex-online.com
Tobias Vossberg
Phone: +49 173 457 3633
tvossberg@nordex-online.com
Torben Rennemeier
Phone: +49 152 3461 7954
trennemeier@nordex-online.com
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14.05.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS
News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The EQS Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com
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Language: English
Company: Nordex SE
Erich-Schlesinger-Straße 50
18059 Rostock
Germany
Phone: +49 381 6663 3300
Fax: +49 381 6663 3339
E-mail: investor-relations@nordex-online.com
Internet: www.nordex-online.com
ISIN: DE000A0D6554
WKN: A0D655
Indices: MDAX, TecDAX
Listed: Regulated Market in Frankfurt (Prime Standard);
Regulated Unofficial Market in Berlin, Dusseldorf,
Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1901829
End of News EQS News Service
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1901829 14.05.2024 CET/CEST
| Name | WKN | Börse | Kurs | Datum/Zeit | Diff. | Diff. % | Geld | Brief | Erster | Schluss | |
|---|---|---|---|---|---|---|---|---|---|---|---|
 |
NORDEX SE O.N. | A0D655 | Frankfurt | 14,280 | 29.05.24 17:10:30 | -0,320 | -2,19% | 0,000 | 0,000 | 14,520 | 14,600 |
