DGAP-News: Nordex SE / Key word(s): Quarter Results/Quarterly / Interim Statement
Nordex Group starts 2021 with quarterly sales of EUR 1.25 billion
Hamburg, 11 May 2021. The Nordex Group (ISIN: DE000A0D6554) today reported results for the first quarter of 2021. Sales increased from EUR 964.6 million in the previous year’s quarter to EUR 1,251.2 million in the first quarter of 2021. Earnings before interest, taxes, depreciation and amortization (EBITDA) came to EUR 10.4 million, slightly down compared to the previous year’s level of EUR 13.1 million. This results in an EBITDA margin of 0.8 percent (Q1/2020: 1.4 percent). The increase in revenues is due in particular to the significant rise in installations. By contrast, the EBITDA margin contracted compared to the previous year’s quarter, which had not been affected by the COVID-19 pandemic. As a result of the measures taken by Nordex, business processes are largely stable, although their efficiency is still impacted or they are delayed. In addition, a large number of lower margin legacy projects was still being executed in the first quarter of 2021.
In the first quarter of 2021, the Nordex Group produced a total of 304 turbines with a rated capacity of just under 1,300 MW compared to 448 turbines with a rated capacity of 1,641 MW in the first quarter of the previous year. In the rotor blade production the number of rotor blades produced rose by 19.3 percent from 321 units in the previous year to 383 units. The Nordex Group always aims to align production precisely with project needs and the resulting delivery commitments.
Overall, the global wind industry started into the fiscal year 2021 with subdued demand. In this environment, the Nordex Group held up well with solid order intake in the Projects segment of 1,247 MW in the first three months of 2021. In the same quarter of the previous year, order intake amounted to 1,644 MW supported by a major project in Norway. The order intake (excluding the Service segment) for the first quarter of 2021 corresponds to a value of EUR 911 million (Q1/2020: EUR 1,185 million). Of this order volume (in MW), 92 percent was attributable to ten countries in Europe and 8 percent to Mexico (reporting region Latin America). The largest individual markets in Europe were Spain, Turkey, Germany and Finland. At the end of the quarter, the Projects segment had an order backlog of EUR 5.1 billion (March 31, 2020: EUR 5.8 billion). At the end of 2020, the Nordex Group had an order backlog of EUR 5.3 billion, which decreased in the course of the first quarter of 2021 due to increased installations. In the Service segment, the order backlog increased further by 8.1 percent from EUR 2.6 billion to EUR 2.8 billion, resulting in a total order backlog for both segments of EUR 7.9 billion (March 31, 2020: EUR 8.4 billion).
Key financial figures at a glance
Nordex stock included in MDAX index
Guidance 2021 confirmed
«The Nordex Group has started 2021 well prepared. We are encountering continued good demand for our efficient Delta4000 platform, which we are successfully marketing as a global product. Last year, we developed targeted concepts for our business processes under pandemic conditions, especially for production and installation. We are monitoring the processes closely and continuously. Overall, we remain confident for 2021 and expect a positive development of the business performance, while also recognising higher uncertainties resulting from ongoing pandemic situation and general inflationary pressures across commodities,» says José Luis Blanco, Chief Executive Officer (CEO) of the Nordex Group.
The complete report for the first quarter of 2021 is now available for download on the Nordex Group website in the Investor Relations section under «Publications» (ir.nordex-online.com). The Group interim management report and the condensed interim consolidated financial statements were not reviewed by an auditor.
Nordex Group key financials
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