The Nordex Group (NRDXF.PK) posted a first-quarter net loss of 214.8 million euros compared to a loss of 150.5 million euros, prior year. Loss per share was 1.01 euros compared to a loss of 0.94 euros. EBITDA was negative at 114.9 million euros compared to a negative EBITDA of 88.9 million euros.
Sales were 1.22 billion euros compared to 933 million euros, prior year. The Group said this sales growth is attributable to higher installation output than at the start of the previous year.
As of the end of March 2023, the Nordex Group had cash and cash equivalents of 518.0 million euros.
"Overall, the year began as expected and we increased our installation output in the first quarter. Overall, we continue to see improving volumes in our key markets, on the back of positive political momentum," said José Luis Blanco, CEO of the Nordex Group.
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