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Nordex Group Posts Wider Loss In 9-month, Sales Up 9.6%; Confirms 2019 Guidance

The Nordex Group (NRDXF.PK) reported a consolidated net loss of 76.5 million euros in the first nine months of 2019 compared to a loss of 51.8 million euros, prior year. Earnings before interest, taxes, depreciation and amortization (EBITDA) declined to 60.2 million euros from 71.4 million euros, prior year, corresponding to an EBITDA margin of 3.1 percent compared to 4.0 percent.

For the nine month period, consolidated sales were 1.94 billion euros, compared to 1.77 billion euros, previous year. Gross revenue rose by 43.7 percent to 2.52 billion euros.

For the third quarter, sales increased to 952.2 million euros from 815.7 million euros, last year. EBITDA margin was 4.5 percent in the third quarter.

José Luis Blanco, CEO, said: "The Nordex Group's business is performing in line with our expectations in 2019, with a significantly stronger second half of the year. In light of this, we are confirming our guidance for the current financial year. Demand for our new Delta4000 product range remains very strong."

For 2019, the company expects consolidated sales of 3.2 billion euros to 3.5 billion euros, and EBITDA margin of 3.0 to 5.0 percent.

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