The Nordex Group has published its 2023 annual financial statements, confirming the preliminary results published on 12 February 2024. Group sales grew by 14 percent to €6.5 billion (2022: €5.7 billion). Earnings before interest, taxes, depreciation, and amortisation (EBITDA) reached the operating break-even point at €2.0 million (2022: €-244.3 million).
This corresponds to a margin of zero percent (2022: -4.3 percent). Investments were at €131 million (2022: €205 million) and were therefore well below the expected volume of €200 million. This was due to project-related delays extending beyond the reporting date.
In the year under review, the Nordex Group installed a total of 1,429 wind turbines in 24 countries (2022: 1,129 in 19 countries) with a total nominal output of just under 7.3 GW (2022: 5.2 GW). The Projects segment increased sales by 13.8% to €5.8 billion (2022: €5.1 billion). The Service segment increased sales by 18.3 percent to €679 million (2022: €574 million) and contributed 10.5 percent to Group sales. At the end of 2023, the Nordex Group had 11,400 wind turbines with a capacity of 35 GW under service, mostly under long-term contracts (2022: 10,599 WTGs, 31 GW). The order backlog in the Service segment increased by 11.4 percent to €3.6 billion (2022: €3.3 billion) and in the Projects segment by 5.8 percent to €6.9 billion (2022: €6.5 billion). In total, this results in an order backlog of just over €10.5 billion, compared to €9.8 billion in the previous year.
In total, the company manufactured 1,520 turbines in the reporting year (2022: 1,502) and increased the nominal output of the turbines produced by 7.0% to almost 8.0 GW (2022: 7.5 GW) due to the higher average output of the wind turbines. The production of rotor blades in the company's own plants was reduced slightly in 2023 to a total of 1,159 rotor blades (2022: 1,243 blades). The company purchased 3,476 blades (2022: 3,531 blades) from external suppliers who manufacture the blades according to Nordex design and Nordex specifications.
For 2024, the Nordex Group expects consolidated sales of €7.0 to 7.7 billion and an EBITDA margin of 2.0 to 4.0 percent. The company expects the second half of the year to be stronger than the first half.
