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Nordex Posts Wider Loss For FY21

Nordex Group (NRDXF.PK), a German wind turbine maker, on Tuesday posted an increased loss for the fiscal 2021. However, the Group recorded a 17.1 percent rise sales for the same 12-month period.

For the fiscal 2021, the Rostock-based firm reported a net loss of 230.2 million euros, compared with 129.7 million euros loss a year ago.

The company generated earnings before interest, taxes, depreciation, and amortization or EBITDA of 52.7 million euros as against 94 million euros, on year-on-year basis. The company cited higher costs for raw materials and shipping for lesser earnings.

Nordex registered a rise in capital expenditure of 168.7 million euros, versus 162.9 million euros, reported for the previous year.

The turbine maker logged sales for the year at 5.44 billion euros, higher than 4.65 billion euros, recorded a year ago.

Moving forward, for the fiscal 2022, the Group expects its sales to reach 5.4 billion euros to 6 billion euros.

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