Nordex achieves positive result in 2023
Published by Theodore Reed-Martin,
Editorial Assistant
Energy Global,
The Nordex Group has published its 2023 annual financial statements, confirming the preliminary results published on 12 February 2024. Group sales grew by 14% to €6.5 billion. Earnings before interest, taxes, depreciation, and amortization reached the operating break-even point at €2 million, compared to the loss of €244 million in 2022. This corresponds to a margin of zero percent (2022: -4.3%).
Sales thus exceeded the upper end of the forecast corridor, while the EBITDA margin reached around the middle of the expected range. The working capital ratio in relation to consolidated sales amounted to -11.5% at the end of 2023 and was therefore once again significantly better than the forecast figure of less than minus -9%. Investments were at €131 million and were therefore well below the expected volume of approximately €200 million. This was due to project-related delays extending beyond the reporting date.
The company expects a consolidated sales of €7 billion to €7.7 billion and an EBITDA margin of 2% to 4%, with the second half of the year to be stronger than the first.
"After a challenging 2022, we managed to stabilise our operations during 2023 as the overall market conditions improved, despite some fluctuations. We have further strengthened our balance sheet this year, achieved good order intake and successively increased our profitability. This puts us in a solid starting position for 2024 and beyond. It remains important for us that the political framework conditions and supply chains remain reliable in the long term so that we can efficiently process our order backlog," said José Luis Blanco, CEO of the Nordex Group.
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Read the article online at: https://www.energyglobal.com/wind/29022024/nordex-achieves-positive-result-in-2023/
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