DGAP-News: Nordex SE / Key word(s): Annual Results/Forecast
Nordex Group began 2020 with turbine order backlog of EUR 5.5 billion
– Guidance for 2020: sales of EUR 4.2 to 4.8 billion and EBITDA of EUR 160 to 240 million subject to COVID-19 measures
– Group meets 2019 guidance
– Capital increase reinforces financial structure
– Sales in Service segment up 17.7 percent
– Three new turbines added to product portfolio
– Fourth Sustainability Report presented
Hamburg, 24 March 2020. The Nordex Group (ISIN: DE000A0D6554) today announced that it began 2020 with a well-filled order book for new wind turbines of EUR 5.5 billion, up 43 percent on the previous year (2018: EUR 3.9 billion). In light of this, the Company once again expects a visible rise in sales and a further increasing operating profit.
Guidance for 2020
Working capital is dependent upon order intake and activity levels. At the end of the year, the working capital ratio as a percentage of consolidated sales is expected to be in negative territory at below zero percent. The Nordex Group has planned at a minimum of EUR 140 million in investments. The final investment amount will ultimately depend on the market situation and the pace in which the supply chain continues to evolve.
Nordex Group closes 2019 in line with its guidance
The Nordex Group still has an equity ratio of 18.6 percent as at the reporting date (31 December 2018: 22.8 percent). This development was primarily driven by the capital increase implemented in October 2019 and the consolidated net loss. However, total assets grew faster than equity, causing the equity ratio to fall. At the end of the year, the Nordex Group had cash and cash equivalents of EUR 510.0 million, which remains at a good level (31 December 2018: EUR 610.0 million). Net debt amounted to EUR 84.0 million (31 December 2018: EUR 32.5 million).
Installations and service
Three new turbine models added to product portfolio
“We used the past year to further expand our product portfolio based on the Delta4000 platform and steadily enhance the efficiency of our products. By doing this, we are addressing the different requirements of our customers and international markets around the world. We are also aligning and further developing our global supply chain,” said José Luis Blanco, Chief Executive Officer (CEO) of the Nordex Group.
2019 Sustainability Report presented
The Annual Report and the Sustainability Report are now available for download from the Investor Relations section of the company’s website under “Publications” (ir.nordex-online.com). The Nordex Group will report its results for the first quarter of 2020 on 11 May 2020.
Nordex Group key financials
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THE NORDEX GROUP
The Nordex Group
The Group has installed more than 25 GW of wind energy capacity in over 40 markets and in 2018 generated revenues of around EUR 2.5 billion. The company has more than 6,000 employees. The joint manufacturing capacity includes factories in Germany, Spain, Brazil, the United States, India, Argentina and Mexico. The product portfolio is focused on onshore turbines in the 2.4 to 5.X MW class, which are tailor-made for the market requirements of countries with limited space and regions with limited grid capacity.