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Preliminary Annual Figures For 2022: Nordex Confirms Forecast - Sales at The Upper End of The Range

Hamburg, Germany - Wind turbine manufacturer Nordex has published its preliminary results for fiscal year 2022. The RENIXX Group has confirmed its revised annual guidance.

Overall, Nordex generated sales of EUR 5.7 billion in 2022 (previous year: EUR 5.4 billion), thus reaching the upper end of the guidance range of EUR 5.2 to 5.7 billion. Nordex reported earnings before interest, taxes, depreciation and amortisation (EBITDA) of minus EUR 244 million (previous year: EUR 53 million), equivalent to an EBITDA margin of minus 4.3 percent (previous year: 1.0 percent).

According to Nordex, the main factors influencing the annual result were the persistently volatile macro-economic environment, challenges in terms of product quality and the reliability of the supply chains, the cyber security incident in the first half of the year and the resulting overall impact on installations. Nordex was able to compensate for the negative effects in part by generating income from project development activities.

With prices rising, Nordex was able to record order receipts of 6,330 MW (6.33 GW) with growing market shares despite the tense market environment (2021: 7.95 GW).

„2022 has been again an extremely challenging year for the industry due to the numerous macro-economic headwinds. Despite these challenges, our team was able to maintain a healthy momentum in terms of order intake with significantly improving selling prices, which gives us a good platform for 2023", said Nordex CEO José Luis Blanco. In the medium term, the wind markets would continue to show great potential with the strengthening of the policy momentum for renewable energies in Europe and the US, Blanko added.

Nordex's share price has risen in the course of today's trading. The stock is currently trading at EUR 15.01, up 3.9 percent (2:45 p.m., 09.03.2023, Stuttgart Stock Exchange). This represents an increase of around 14 percent over the turn of the year.

Source: IWR Online, 09 Mar 2023