EQS-News: Nordex Group delivers consistent revenue growth with increasing profitability in the first nine months
EQS-News: Nordex SE
/ Key word(s): 9 Month figures
Hamburg, November 07 2024. The Nordex Group (ISIN: DE000A0D6554) reported robust financial performance for the first nine months of 2024, with sales increasing by 14 percent to EUR 5.1 billion (9M/2023: EUR 4.5 billion). Total performance, including changes in inventories, rose by 10 percent to EUR 4.8 billion (9M/2023: EUR 4.4 billion).
Earnings before interest, taxes, depreciation, and amortization (EBITDA) significantly improved to EUR 189 million in the first nine months of 2024 (9M/2023: EUR minus 67 million). Until September, profitability gradually increased to an EBITDA margin of 3.7 percent (9M/2023: minus 1.5 percent) and reached a margin of 4.3 percent in the third quarter 2024 with an EBITDA of EUR 71.5 million (Q3/2023: EUR 48 million, 0.1 percent). Given the strong development, the full-year EBITDA margin is expected to be closer to the top end of the margin guidance range of 3 to 4 percent. “I am very pleased with the operational progress over the past nine months, demonstrating a consistent increase in profitability each quarter and aligning with our expectations. In the third quarter again, we achieved a positive net profit and a positive free cash flow, showing a consistent and sustainable progress. This puts us on a strong path to further improve profitability and reach our mid-term goal of an 8 percent EBITDA margin,” says José Luis Blanco, CEO of the Nordex Group.
Operational performance In the Projects segment, the Nordex Group recorded order intake of 5.1 GW for the first nine months 2024, up from 4.9 GW in the period of comparison in 2023. This represents a 4 percent increase, with a total value of new orders reaching EUR 4.6 billion (9M/2023: EUR 4.1 billion). These orders were received from 23 countries and span various turbine variants. As of September 2024, the Nordex Group’s order book stood at EUR 11.5 billion, compared to EUR 10.2 billion in September 2023. This comprises EUR 6.9 billion (9M/2023: EUR 6.7 billion) in the Projects segment and EUR 4.6 billion (9M/2023: EUR 3.6 billion) in the Service segment.
Sales in the Projects segment rose by 14 percent to EUR 4.6 billion in the first nine months of this year, up from EUR 4.0 billion in the comparable period of 2023. The Service segment also experienced growth, with sales increasing by 13 percent to EUR 543 million (9M/2023: EUR 482 million).
Key financial figures at a glance Total assets were at approximately EUR 5.3 billion, slightly lower than the EUR 5.4 billion at the end of 2023. The equity ratio increased to 18.5 percent compared to 18.0 percent as of 31 December 2023. As of the reporting date, the Group cash and cash equivalents stood at EUR 882 million (31 December 2023: EUR 926 million), leading to a healthy net cash position of EUR 583 million (31 December 2023: EUR 631 million). The working capital ratio as a percentage of consolidated sales was minus 7.3 percent (31 December 2023: minus 11.5 percent, 30 June 2024: minus 7.4 percent). Free cash flow in the first nine months of 2024 reached breakeven (9M/2023: minus EUR 226 million) and was supported by EUR 159 million in the third quarter 2024 (Q3/2023: minus EUR 167 million) primarily due to positive working capital developments.
Reporting information The quarterly statement for the first nine months of the 2024 financial year is now available on the Nordex Group's website in the Investor Relations section under ‘Publications’ (ir.nordex-online.com). The quarterly statement and the condensed consolidated interim financial statements were neither audited nor reviewed by an auditor.
Nordex Group key financials for the first nine months
About the Nordex Group The Group has installed around 52 GW of wind power capacity in over 40 markets in its corporate history and generated consolidated sales of around EUR 6.5 billion in 2023. The Company currently has more than 10,200 employees with a manufacturing network that includes factories in Germany, Spain, Brazil, India, USA and Mexico. Its product portfolio is focused on onshore turbines in the 4 to 6 MW+ classes which are designed to meet the market requirements of countries with limited available space and regions with constrained grid capacity.
Contact for press inquiries: Nordex SE Felix Losada Phone: 040 / 300 30 – 1141 flosada@nordex-online.com
Contact for investor inquiries: Nordex SE Anja Siehler Phone: +49 162 3515 334 asiehler@nordex-online.com
Tobias Vossberg Phone: +49 173 457 3633 tvossberg@nordex-online.com
07.11.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
Language: | English |
Company: | Nordex SE |
Erich-Schlesinger-Straße 50 | |
18059 Rostock | |
Germany | |
Phone: | +49 381 6663 3300 |
Fax: | +49 381 6663 3339 |
E-mail: | investor-relations@nordex-online.com |
Internet: | www.nordex-online.com |
ISIN: | DE000A0D6554 |
WKN: | A0D655 |
Indices: | MDAX, TecDAX |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 2024223 |
End of News | EQS News Service |
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2024223 07.11.2024 CET/CEST
Boersengefluester.de (BGFL) provides an overview of the key figures on sales, earnings, cash flow and dividends to help you better assess the fundamental development of the respective companies. All information is entered manually in our database - the source is the respective annual reports. All estimates for future figures are provided by BGFL.
The most important financial data at a glance | ||||||||
2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024e | ||
Sales1 | 2.459,12 | 3.284,57 | 4.650,74 | 5.443,95 | 5.693,56 | 6.489,07 | 7.480,00 | |
EBITDA1,2 | 101,66 | 123,83 | 93,95 | 52,67 | -244,27 | 2,03 | 255,00 | |
EBITDA-Margin3 | 4,13 | 3,77 | 2,02 | 0,97 | -4,29 | 0,03 | 3,41 | |
EBIT1,4 | -54,18 | -19,58 | -61,84 | -107,33 | -426,68 | -186,47 | 65,00 | |
EBIT-Margin5 | -2,20 | -0,60 | -1,33 | -1,97 | -7,49 | -2,87 | 0,87 | |
Net Profit (Loss)1 | -83,85 | -72,98 | -129,71 | -230,16 | -497,76 | -302,81 | -60,00 | |
Net-Margin6 | -3,41 | -2,22 | -2,79 | -4,23 | -8,74 | -4,67 | -0,80 | |
Cashflow1,7 | 124,93 | 37,98 | -352,20 | 127,56 | -350,09 | 161,20 | 0,00 | |
Earnings per share8 | -0,86 | -0,73 | -1,21 | -1,68 | -2,71 | -1,33 | -0,27 | |
Dividend per share8 | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 |
1 in Mio. Euro; 2 EBITDA = Earnings before interest, taxes, depreciation and amortisation; 3 EBITDA in relation to sales; 4 EBIT = Earnings before interest and taxes; 5 EBIT in relation to sales; 6 Net profit (-loss) in relation to sales; 7 Cashflow from operations; 8 in Euro; Source: boersengefluester.de
Auditor: PricewaterhouseCoopers
All relevant valuation ratios, dates and other investor information on your share at a glance. Good to know: All data comes from boersengefluester.de and is updated daily. This means you are always up to date. You can get brief explanations of the key figures by moving the cursor or mouse over the relevant field.
INVESTOR-INFORMATION | ||||||
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Nordex | ||||||
WKN | ISIN | Legal Type | Marketcap | IPO | Recommendation | Plus Code |
A0D655 | DE000A0D6554 | SE | 2.716,82 Mio € | 02.04.2001 | Halten | 9F5GM2G2+7X |
PE 2025e | PE 10Y-Ø | BGFL-Ratio | Shiller-PE | PB | PCF | KUV |
17,41 | 19,80 | 0,88 | -16,16 | 2,94 | 16,85 | 0,42 |
Dividend '2022 in € |
Dividend '2023 in € |
Dividend '2024e in € |
Div.-Yield '2024e in % |
0,00 | 0,00 | 0,00 | 0,00% |
Annual General Meeting | Q1-figures | Q2-figures | Q3-figures | Annual press conference |
06.05.2025 | 14.05.2024 | 25.07.2024 | 14.11.2024 | 27.02.2025 |
Distance 60-days-line | Distance 200-days-line | Performance YtD | Performance 52 weeks | IPO |
-7,38% | -12,08% | +10,48% | +17,13% | -87,23% |
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