logo
Plus   Neg
Share
Email

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.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The former chief executive officer of Hertz Global Holdings, Mark Frissora, agreed to pay about $2.2 million to settle the U.S. Securities and Exchange Commission's claims that he played a key role in causing the now-bankrupt car-rental company to file inaccurate financial statements in 2013. Daimler AG, the maker of Mercedes-Benz cars, said Thursday that it has agreed to pay more than $2.2 billion to settle U.S. claims over emissions from its diesel vehicles. A new class-action lawsuit filed against Facebook accuses the company's photo and video-sharing app Instagram of illegally collecting biometric data of as many as 100 million users without their consent, according to reports. The lawsuit filed in a state court in California, alleges that Instagram uses its photo-tagging technology to create a database of users' facial features.
RELATED NEWS
Follow RTT