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Nordex Group Posts Wider Loss In H1, Sales Up 3.5%; Confirms Guidance

The Nordex Group (NRDXF.PK) said the business performed in line with the pattern anticipated by the Group in the first half of the year. After a weaker first half of 2019, the company expects a significant rise in activity levels with considerably higher sales in the second half of the year.

For the first-half, EBITDA was 17.1 million euros compared to 38.4 million euros, prior year, corresponding to an EBITDA margin of 1.7 percent compared to 4.0 percent. Consolidated net loss widened to a loss of 55.4 million euros from a loss of 40.3 million euros, last year.

First-half consolidated sales were 990.8 million euros compared to 957.1 million euros, previous year. Total output rose to 1.60 billion euros from 1.09 billion euros.

For 2019, the Nordex Group continues to expect consolidated sales of 3.2 billion euros to 3.5 billion euros, and an EBITDA margin of between 3.0 and 5.0 percent. The Group is now planning to invest around 160 million euros for 2019, primarily for additional rotor blade production capacity.

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