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Nordex Cuts 2022 Sales Outlook

Nordex (NRDXF.PK) updated its full-year guidance for 2022.

The company now expects annual consolidated sales to be in the range of 5.2 billion euros to 5.7 billion euros compared to the prior estimation of 5.4 billion euros to 6.0 billion euros.

The company projects annual operating (EBITDA) margin of minus 4 to 0 percent. Previously it was expected to be plus 1.0 to 3.5 percent before any costs related to footprint reconfiguration and geopolitical events.

Expectations for capital expenditure at around 180 million euros and the working capital ratio of below minus 7 percent remain unchanged.

The updated guidance takes into account direct as well indirect effects expected as of today of the war in Ukraine and one-off expenses for reconfiguration in the production footprint.

In addition, the updated guidance also includes anticipated effects from supply chain disruptions coming from China and extra costs and impacts on the company's business in connection with the cyber security incident of 31 March 2022.

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