Hope in the horizon for Nordex after net loss of $315 million in Q4

Admin I Friday, March 01, 2024

FRANKFURT – The German wind turbine manufacturer Nordex confirmed on Thursday its previously reported preliminary annual results.

“After a challenging 2022, we managed to stabilize our operations during 2023 as the overall market conditions improved, despite some fluctuations. Nordex chief executive Jose Luis Blanco said.

“We have further strengthened our balance sheet this year, achieved good order intake and successively increased our profitability.”

For the first 12-month period, the turbine maker posted a net loss of €290 million ($315 million), lesser than a loss of €497.8 million registered last year.

Earnings before interest, taxes, depreciation and amoritization (EBITDA) was at €2 million, compared with a loss of €244.3 million a year ago.

EBITDA margin stood at 0% as against last year’s negative 4.3%. Sales were €6.489 billion, up from the previous year’s €5.693 billion.

Looking ahead, for the full year, Nordex expects sales of €7 billion to €7.7 billion with an EBITDA margin of 2% to 4%. The group expects the second half of the year to be stronger than the first half.