08.11.2021 Nordex SE  DE000A0D6554

DGAP-News: Nordex Group presents preliminary results for the first three quarters of 2021 and revised guidance for FY2021


DGAP-News: Nordex SE / Key word(s): Change in Forecast/Preliminary Results
Nordex Group presents preliminary results for the first three quarters of 2021 and revised guidance for FY2021

08.11.2021 / 18:33
The issuer is solely responsible for the content of this announcement.

           - For Q1-Q3/2021 Nordex Group increased sales to EUR 4.0 billion

- EBITDA of EUR 100.7 million impacted by volatility in commodity and logistics markets

- Net cash position of EUR 516 million with an equity ratio of 28.5 percent as of 30 September 2021

- Guidance for FY2021 adjusted to sales of EUR 5.0-5.2 billion (previously EUR 4.7-5.2 billion) with an EBITDA      margin of around 1.0 percent (previously 4.0-5.5 percent)

Hamburg, 8 November 2021. Nordex SE (ISIN DE000A0D6554) today presents preliminary results for the first three quarters of 2021 and a revised guidance for the current financial year. The impacts of rising inflationary pressures, especially the current instability in logistics markets, as well as other after-effects of the coronavirus pandemic have been much larger than anticipated in the second half of the year. However, the Group expects to overcome the current challenges and continues to aim for the strategic target of an 8 percent EBITDA margin in the medium term.

Despite unexpectedly increasing headwinds in 2021, the Nordex Group generated consolidated sales of EUR 4.0 billion in the first nine months of 2021 (9M 2020: EUR 3.2 billion). This sales growth is due to a strong performance in installations and production in the segment "projects". 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. With the completion of the rights issue announced on 30 June 2021, the Nordex Group ended the quarter with a strong equity ratio of 28.5 percent and net cash position of EUR 516 million.

The decrease in profitability is primarily a result of the effects of the increasing volatility in commodity and shipping costs, which adversely affected Nordex Group's EBITDA and are expected to further impact results in the fourth quarter of 2021 as well as 2022. Prices of raw materials and logistics, shipping costs in particular, continued to increase to unprecedented levels.

The guidance for the financial year 2021 has been revised to take into account developments in the third quarter and the outlook for the fourth quarter: 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. Against the background of the unexpected cost increases because of the volatility in commodity and logistics markets, the operating (EBITDA) margin of previously 4.0-5.5 percent has been 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.

However, the Nordex Group continues to be optimistic about future business performance, which will be driven by the global momentum for renewable energy, the very low cost of energy of onshore wind and strong demand for the highly competitive Delta4000-series.

"Sales have developed better than expected and initiatives to enhance operational excellence and further expand capacity have been very successful - but this has not been enough to fully offset the increasing costs of materials and logistics, particularly the surge in shipping costs during the third quarter", says José Luis Blanco, CEO of the Nordex Group. "These inflationary pressures are currently severe, but in the medium term we expect to benefit from the fundamentals shaping the industry and to return to a more positive business development."

CEO José Luis Blanco will expand on today's press release in a conference call for analysts and investors tomorrow, 9 November 2021, at 9am CET.

The dial-in details will be sent to analysts and investors shortly and can be requested from Investor Relations. Final figures and the complete report for the third quarter of 2021 will be published on 15 November 2021.

Contact for press inquiries:

Nordex SE
Felix Losada
Phone: 040 / 300 30 - 1141
[email protected]

Contact for investor and analyst inquiries:

Nordex SE
Felix Zander
Phone: +49 (0)40 / 300 30 - 1116
[email protected]

Tobias Vossberg
Phone: +49 (0)40 / 300 30 - 2502
[email protected]

08.11.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Language: English
Company: Nordex SE
Erich-Schlesinger-Straße 50
18059 Rostock
Phone: +49 381 6663 3300
Fax: +49 381 6663 3339
E-mail: [email protected]
Internet: www.nordex-online.com
ISIN: DE000A0D6554
WKN: A0D655
Indices: SDAX, TecDAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1247204

End of News DGAP News Service

1247204  08.11.2021 


Die wichtigsten Finanzdaten auf einen Blick
  2016 2017 2018 2019 2020 2021 2022e
Umsatzerlöse1 3.395,03 3.077,79 2.459,12 3.284,57 4.650,74 5.443,95 5.850,00
EBITDA1,2 285,54 200,66 101,66 123,83 93,95 52,67 175,00
EBITDA-Marge3 8,41 6,52 4,13 3,77 2,02 0,97 2,99
EBIT1,4 168,58 43,36 -54,18 -19,58 -61,84 -107,33 14,00
EBIT-Marge5 4,97 1,41 -2,20 -0,60 -1,33 -1,97 0,24
Jahresüberschuss1 95,35 0,33 -83,85 -72,98 -129,71 -230,16 -65,00
Netto-Marge6 2,81 0,01 -3,41 -2,22 -2,79 -4,23 -1,11
Cashflow1,7 144,40 91,41 124,93 37,98 -352,20 127,56 0,00
Ergebnis je Aktie8 1,03 0,00 -0,86 -0,73 -1,21 -1,68 -0,40
Dividende8 0,00 0,00 0,00 0,00 0,00 0,00 0,00
Quelle: boersengefluester.de und Firmenangaben

  Geschäftsbericht 2021 - Kostenfrei herunterladen.  
1 in Mio. Euro; 2 EBITDA = Ergebnis vor Zinsen, Steuern und Abschreibungen; 3 EBITDA in Relation zum Umsatz; 4 EBIT = Ergebnis vor Zinsen und Steuern; 5 EBIT in Relation zum Umsatz; 6 Jahresüberschuss (-fehlbetrag) in Relation zum Umsatz; 7 Cashflow aus der gewöhnlichen Geschäftstätigkeit; 8 in Euro; Quelle: boersengefluester.de

Wirtschaftsprüfer: PricewaterhouseCoopers

WKN Kurs in € Einschätzung Börsenwert in Mio. €
A0D655 11,740 Halten 1.878,65
KGV 2023e KGV 10Y-Ø BGFL-Ratio Shiller-KGV
19,57 31,39 0,62 -45,50
1,77 14,73 0,35 30,48
Dividende '20 in € Dividende '21e in € Div.-Rendite '21e
in %
0,00 0,00 0,00 31.05.2022
Q1-Zahlen Q2-Zahlen Q3-Zahlen Bilanz-PK
12.05.2022 11.08.2022 15.11.2022 29.03.2022
Abstand 60Tage-Linie Abstand 200Tage-Linie Performance YtD Performance 52 Wochen
-21,13% -20,34% -15,60% -38,66%
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