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Nordex Q1 Net Loss Widens; Affirms FY Outlook - Quick Facts

German wind turbine maker Nordex Group (NRDXF.PK) reported that its consolidated net loss for the first quarter widened to 35.0 million euros from 19.4 million euros in the year-ago period.

Earnings before interest, taxes, depreciation and amortization or EBITDA fell 83.5 percent to 3.3 million euros from 20.0 million euros in the year-ago period. This resulted in an EBITDA margin of 0.8 percent, down from 4.1 percent in the prior-year quarter.

Sales for the quarter declined 18.2 percent to 398.9 million euros from 487.9 million euros last year.

Looking ahead to fiscal 2019, Nordex Group affirmed its outlook and said it expects to generate consolidated sales of 3.2 billion euros to 3.5 billion euros, an EBITDA margin of between 3.0 and 5.0 percent, and working capital ratio of under 2 percent in relation to sales.

The Group added that it plans to make investments of 120 million euros - a figure that will ultimately depend on the momentum of orders received for new products in the further course of the year.

Separately, Nordex Group said it has received an order for 74 turbines from the N149/4.0-4.5 Delta4000 series, which will be the first of its kind installed at a U.S. wind energy project.

The wind turbines, which will be installed at an Oklahoma wind farm that has a proposed energy generating capacity of 350 megawatts will be delivered and installed in the spring of 2020.

This order means that since its launch in September 2017, the Nordex Group has received orders totaling more than 1,400 MW for the N149/4.0-4.5 of the Delta4000 series.

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