Nordex SE: Nordex Group starts 2022 with sales of EUR 933 million
DGAP-News: Nordex SE / Key word(s): Quarterly / Interim Statement
Nordex Group starts 2022 with sales of EUR 933 million
– Sales totaling EUR 933 million
– Adjusted EBITDA margin before footprint reconfiguration costs at minus 5.6 percent
– Solid order intake of 1.2 GW
– Order book for projects and services at EUR 9.3 billion
– Updated guidance for 2022 and mid-term strategic target of 8 percent EBITDA margin confirmed
Hamburg, 21 June 2022. The Nordex Group (ISIN: DE000A0D6554) today presented its figures for the first quarter of 2022. This announcement has been delayed, as announced on 5 May 2022, because the Nordex Group was exposed to a cyber security incident at the end of March. The Company generated sales of EUR 933 million (Q1/2021: EUR 1,251 million). The trend in sales is attributable to a planned change in production to different blades and weather-related lower installation output.
At 304 turbines, production output in turbine assembly was exactly on the level achieved in the first quarter of the previous year, with the nominal output of 1,300 MW increasing by 15.0 percent to 1,495 MW. The Company produced 270 rotor blades (Q1/2021: 383 units). External suppliers manufactured an additional 702 rotor blades according to Nordex’s designs and specifications (Q1/2021: 570 rotor blades).
The Nordex Group registered positive demand comparable to the prior-year quarter in the first three months of 2022. Order intake (excluding the Service segment) came to EUR 903 million (Q1/2021: EUR 911 million), with total nominal output of 1,165 MW (Q1/2021: 1,247 MW). Of this order volume (in MW), 89 percent was attributable to ten countries in Europe and 11 percent to the Latin America reporting region. The largest individual markets were Finland, Germany, Croatia and Peru. At the end of the quarter, the Projects segment reported an order book of EUR 6.3 billion. This represents a year-on-year increase of around 24 percent (Q1/2021: EUR 5.1 billion). The order book in the Service segment increased by 7.2 percent, from EUR 2.8 billion to EUR 3.0 billion. The total order book for both segments thus came to EUR 9.3 billion (Q1/2021: EUR 7.9 billion).
Key financial figures at a glance
Updated guidance for 2022 confirmed
In addition to this guidance for the current financial year 2022, the Nordex Group confirms its strategic goal of achieving a Group EBITDA margin of 8 percent in the medium term, having already achieved its sales target of around EUR 5 billion and production capacity of more than 6 GW.
“The start into 2022 has been difficult and has certainly unfolded differently than anyone expected. There are significant disruptions to the supply chain and the cost situation remains volatile. However, our underlying operations continue to manage these risks well with good momentum in our order intake. Improving prices should help our margin recovery towards our midterm strategic target of 8 percent EBITDA margin. It also underlines the competitiveness of our product portfolio, which now includes the N163/6.X from the 6 MW class.” says José Luis Blanco, Chief Executive Officer (CEO) of Nordex Group.
The complete report for the first quarter of 2022 is now available for download on the Nordex Group’s website in the Investor Relations section under “Publications” (ir.nordex-online.com).
Nordex Group key financials
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