Börse Express - Nordex confirms forecast for the year

HAMBURG (dpa-AFX) – The wind turbine manufacturer Nordex
has confirmed its forecast for the year despite a decline in sales and earnings. From January to June, sales fell by a good fifth to 2.1 billion euros as a result of lower installations, the company announced on Sunday in Hamburg. Adjusted for the realignment costs, earnings before interest, taxes, depreciation and amortization (Ebitda) slipped significantly into the red. Nordex posted a loss of EUR 143.7 million here, after EUR 68.4 million in the same period of the previous year. In addition to the lower installations outside of Europe and Latin America, the company blamed the indirect effects of the pandemic and the Ukraine war through the dislocations in the energy, raw materials and logistics markets for the development.

Nordex had postponed the presentation of its quarterly results due to a cyber security incident and was out of the SDax small-cap index due to the late announcement flown. The only major shareholder is the Spanish conglomerate Acciona
which holds almost a fifth of Nordex.

The Hamburgers had already started the new year with high losses. Also other wind turbine manufacturers like Vestas
and Siemens Gamesa are facing sharp headwinds from rising costs and supply chain disruptions. Nordex recently carried out two capital increases with the support of its major shareholder, raising a total of EUR 351 million gross.

Company boss Jose Blanco expressed confidence in the announcement. In the medium term one will benefit from the good growth prospects of the wind power industry. “We continue to see a strong order situation and have a competitive product portfolio,” emphasized the manager./he