Nordex 9-month Sales Down 2.1%; Tightens FY Operating Margin Outlook

Nordex AG (NRDXF.PK) reported that its sales for first nine months of the 2022 financial year declined 2.1% to 3.87 billion euros from 3.96 billion euros in the prior year.

Earnings before interest, taxes, depreciation, and amortization (EBITDA) amounted to minus 200 million euros compared to 101 million euros in the prior year. It was hurt by the persistently strong inflationary environment and supply chain disruption in particular. The latest improving selling prices for new incoming orders will start to have a positive impact after some time next year.

Nordex Group tightened its guidance for the 2022 financial year: the operating margin (EBITDA margin) is now expected to be at the lower end of the guidance range issued on 24 May 2022 at around minus 4 percent. This is mainly due to the current market environment, issues with supply chain reliability and thus project delays.

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