The Nordex Group has published preliminary results for fiscal year 2023 and confirms its guidance for the year. According to these preliminary results, the Company recorded increased consolidated sales of €6.5 billion (previous year: €5.7 billion) and exceeded the upper end of the forecast range of €5.6 to 6.1 billion. Earnings before interest, taxes, depreciation, and amortisation (EBITDA) reached break-even on a full-year basis at €2 million (previous year: minus €244 million). This corresponds to an EBITDA margin of 0% (previous year: -4.3%) and is broadly in the middle of the guidance range of -2 to 3%.
The Nordex Group has improved its working capital ratio in relation to consolidated sales to -11.5% (previous year: -10.2%). Thus, the ratio is again clearly below the guided -9%.
Investments in 2023 amounted to around €131 million (previous year: €205 million) and are therefore well below the forecast figure of around €200 million. Nordex ended the year with a solid order intake of 7.4 GW (previous year: 6.3 GW) while maintaining stable prices with a promising order outlook.
"2023 was a transition year with a step-up in the right direction. Looking back, business performance has developed as assumed at the beginning of the year. After a weak start, as expected, we gradually improved each quarter with a stronger second half of the year. Overall, we reached break-even in terms of profitability and now have laid a good foundation for our further business development," explained José Luis Blanco, CEO of the Nordex Group.
The figures announced with this press release are preliminary. The Nordex Group will publish final and audited results for fiscal year 2023 together with guidance for 2024 on 29 February 2024.
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