The wind energy plant manufacturer Nordex reports an increase in turnover from 1.94 billion euros to 3.17 billion euros for the first nine months of 2020. While the EBITDA could be increased from 60 million euros to 71 million euros, the net loss for the group increased from 77 million euros to 108 million euros over the period. The free cash flow at Nordex remains negative and at 378 million euros is in the red after 156 million euros in the same period of the previous year. The Hamburg-based company reports a decrease in liquidity from 510 million euros to 408 million euros. The order situation of the wind energy group showed a decline: In the project area the order volume fell from 3.31 billion euros to 2.64 billion euros and in the service division from 518 million euros to 477 million euros.
The provisional figures have been confirmed by Nordex. For 2020, the company expects sales of EUR 4.4 billion and an EBITDA margin of 2 percent. On a group basis, the working capital ratio should be below minus 4 percent at the end of the year. Nordex has budgeted the investment volume at 170 million euros. In 2022, the company aims to generate sales of 5 billion euros and an EBITDA margin of 8 percent.
“We will have expanded the Nordex Group into a 6 GW company by the end of 2020, and this in the context of the Covid 19 pandemic. In the meantime, our supply chain has largely recovered, production is largely back to normal and our concepts are taking effect, ”says José Luis Blanco, CEO of Nordex SE. “There is still very good demand for our product portfolio, as we have seen from the latest orders for several hundred megawatts from the USA alone. Our focus now is on efficiently implementing our corporate program and expanding our capacities and supply chains in India for the global market in order to achieve our strategic goals in 2022 ”, said the manager.
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At a glance – chart and news: Nordex