Nordex carried out a capital increase. The subscription rights of the existing shareholders were excluded, there was a private placement. A total of 10.67 million shares at EUR 18.90 each will be issued. A gross total of 202 million euros came to Nordex’s cash register. With the fresh money you want to grow further and strengthen the balance sheet. The number of new shares corresponds to 10 percent of the share capital.
The timing of the capital increase is well chosen. The price of Nordex shares has reached a multi-year high; since the beginning of the year, the share has gained around 65 percent.
For 2020 the analysts of Independent Research expect a loss per share of 1.26 euros (old: -1.27 euros). In 2021 there should be earnings per share of EUR 0.21 (old: EUR 0.23). In the model, the higher number of shares must be taken into account, which reduces the earnings per share. A dividend is currently not expected.
The trends in the energy world speak for Nordex. Decarbonization and electrification are important issues. The EU’s green plans also offer corresponding opportunities.
The experts are sticking to the hold recommendation for Nordex shares. The price target is raised from EUR 17.00 to EUR 19.50.
The shares of Nordex gain in the morning 0.6 percent to 18.90 euros. The price is thus at the level of the issue price.