Nordex SE: Revised guidance for financial year 2021 and preliminary results for first nine months of 2021
Nordex SE / Key word(s): Change in Forecast/Preliminary Results
08-Nov-2021 / 18:13 CET/CEST
Hamburg, 8 November 2021. In view of the mounting macro-economic challenges in the wake of the coronavirus pandemic impacting the company’s business, the management board of Nordex SE (« Nordex »; ISIN DE000A0D6554) concluded today on the basis of preliminary results for Q3/2021 to adjust its guidance for this year:
Driven by high demand and strong performance in project execution, the Nordex Group now anticipates consolidated sales of EUR 5.0 – 5.2 billion (previously: EUR 4.7-5.2 billion) in 2021. Taking account of unexpected cost increases because of the unprecedented volatility in commodity and logistics markets, the expected operating (EBITDA) margin of previously 4.0-5.5 percent is adjusted to around 1.0 percent. Expectations for capital expenditure (approx. EUR 180 million) and the working capital ratio (below minus 6 percent) remain unchanged. It should be understood that the consequences of the evolving after-effects of the coronavirus pandemic will continue to affect business performance in unpredictable ways and that the underlying assumptions of this guidance are therefore subject to greater uncertainty than in normal circumstances.
In the first nine months of 2021 the Nordex Group generated consolidated sales of EUR 4.0 billion (9M 2020: EUR 3.2 billion). Earnings before interest, taxes, depreciation and amortization (EBITDA) amounted to EUR 100.7 million (9M 2020: EUR 70.8 million), corresponding to an EBITDA margin of 2.5 percent (9M 2020: 2.2 percent). The working capital ratio as a percentage of consolidated sales stood at minus 7.7 percent (9M 2020: minus 5.7 percent) at the end of the quarter.
The final figures and the complete report for the third quarter 2021 will be published on 15 November 2021.
For further information:
Head of Investor Relations
08-Nov-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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