Emmanuel Thomas with reports from DPA l Friday, March 31, 2023
FRANKFURT – German wind turbine maker Nordex on Friday reported a wider loss for 2022, amidst adverse macroeconomic conditions, supply shortages in production and installation.
However, the company recorded a rise in sales. Today’s report is subsequent to the preliminary results the company published on March 9.
For the 12-month period, the company posted a consolidated loss of €497.8 million ($540 million), higher than the loss of €230.2 million recorded for 2021.
EBITDA was a loss of €244.3 million versus a profit of €52.7 million the previous year.
The EBITDA margin stood at -4.3%, versus previous year’s 1%. Capital expenditure rose to €204.8 million from €168.7 million from last year. Sales, however, improved to €5.693 billion from €5.444 billion a year ago.
Looking ahead, for the full year 2023, the Group expects sales of €5.6 billion to €6.1 billion, with an EBITDA margin of -2% to 3%. Nordex said considering the positive outlook in its core European market as well as the US, it remains on track to achieve its medium-term strategic target of an EBITDA margin of 8%.
