Nordex has presented new guidance for the current 2020 financial year as well as preliminary figures for the first three quarters of 2020. The Nordex Group generated consolidated sales of EUR 3.2 billion in the first nine months of 2020 (9M 2019: EUR 1.9 billion).
Earnings before interest, taxes, depreciation and amortization (EBITDA) amounted to EUR 70.8 million (9M 2019: EUR 60.2 million), corresponding to an EBITDA margin of 2.2 percent (9M 2019: 3.1 percent).
The effects of the ongoing COVID-19 pandemic have adversely affected the Group’s operations in a variety of ways as production and projects have been impacted by supply chain disruptions and prevailing restrictions on the movement of goods and people. By contrast, the sale of the European project development pipeline to RWE for a total gross value of around EUR 400 million had a positive impact on earnings. The Nordex Group has an order book totaling EUR 7.9 billion (9M 2019: EUR 8.1 billion) for the “Projects” and “Service” segments.
Despite the ongoing pandemic, the Nordex Group anticipates consolidated sales of around EUR 4.4 billion (FY2019: EUR 3.3 billion) and an operating margin (EBITDA margin) of 2 percent for the current year 2020 (FY2019: 3.8 percent). A company program has been kicked-off, bringing together key initiatives to further enhance operational excellence and to secure the Group’s strategic targets. The Management Board of Nordex SE aims to generate sales of around EUR 5 billion and an EBITDA margin of 8 percent in 2022.
