EQS-News

Nordex Group starts the year with solid sales growth and an EBITDA margin of 3.3%; Full year guidance confirmed

EQS-News: Nordex SE / Key word(s): Quarter Results Nordex Group starts the year with solid sales growth and an EBITDA margin of 3.3%; Full year guidance confirmed 14.05.2024 / 07:00 CET/CEST The issuer is solely responsible for the content of this announcement. Nordex Group starts the year with solid sales growth and an EBITDA margin of 3.3%; Full year guidance confirmed

• Strong order intake of 2.1 GW
• 29% growth in sales year over year
• First quarter EBITDA reaches EUR 52 million
• Working capital ratio at minus 7.0 percent

Hamburg, 14 May 2024. The Nordex Group (ISIN: DE000A0D6554) generated sales of EUR 1,574 million, which corresponds to a growth of 29 percent (Q1/2023: EUR 1,217 million).

Earnings before interest, taxes, depreciation, and amortization (EBITDA) in the first quarter amounted to EUR 52.1 million (Q1/2023: minus EUR 114.9 million), resulting in an EBITDA margin of 3.3 percent (Q1/2023: minus 9.4 percent).

Operating performance
The Nordex Group erected 227 wind turbines in 13 countries with an aggregate output of 1,103 MW in the first quarter of 2024. In the prior-year quarter, 276 wind turbines with an aggregate output of 1,319 MW were installed in 19 countries. In terms of installed capacity (in MW), 71 percent was attributable to Europe, 19 percent to Latin America, 10 percent to the rest of the world. As a result of an improving orderbook, sales in the Projects segment rose by 32.3 percent to EUR 1,413 million in the reporting period (Q1/2023: EUR 1,068 million). The Service segment also continued its positive trend with an increase in sales of 9.3 percent to EUR 166 million (Q1/2023: EUR 152 million).

Production output in turbine assembly was 199 turbines (Q1/2023: 217 units) with a nominal output of 1,171 MW (Q1/2023: 1,078 MW). The Company produced 313 rotor blades (Q1/2023: 233 units) with external suppliers manufacturing an additional 726 rotor blades (Q1/2023: 888 rotor blades).

Order intake (excluding the Service segment) grew to EUR 1,765 million (Q1/2023: EUR 917 million), with total nominal output increasing to 2,086 MW (Q1/2023: 1,021 MW). This order volume was entirely attributable to eleven countries, with Germany, South Africa and Lithuania as the largest individual markets. The order book in the Projects segment grew to EUR 7.3 billion by the end of the quarter (Q1/2023: EUR 6.5 billion). The order book in the Service segment increased by 13.6 percent, from EUR 3.4 billion to EUR 3.8 billion. The total order book for both segments thus came to EUR 11.1 billion (Q1/2023: EUR 9.9 billion).