Nordex Group (NRDXF.PK), a wind turbines manufacturer, reported Monday that its nine-month consolidated net loss narrowed to 103.7 million euros from last year’s loss of 107.5 million euros.
EBIT margin, adjusted for PPA, was negative 0.1 percent, compared to negative 0.8 percent last year.
Earnings before interest, taxes, depreciation and amortization or EBITDA rose to 100.7 million euros from last year’s 70.8 million euros. This resulted in an EBITDA margin of 2.5 percent, up from 2.2 percent a year ago.
The financial performance was significantly impacted by the sharp rise in commodity and shipping costs.
Sales climbed 25 percent to 3.96 billion euros from last year’s 3.17 billion euros. Gross revenue was 3.58 billion euros, up 15.4 percent from 3.11 billion euros a year ago.
The sales growth is mainly attributable to the significant increase in installation figures and the expanded production output in the Projects segment.
Installations grew 46 percent to 4.9 GW in the first nine months. Order book was consistently strong at 8.0 billion euros.
Looking ahead, the company revised its guidance for 2021, and now expects to post consolidated sales of between 5.0 billion euros and 5.2 billion euros and an EBITDA margin of around 1 percent due to a highly volatile macro environment.
The company previously expected consolidated sales of 4.7 billion – 5.2 billion euros, and an EBITDA margin of 4.0 – 5.5 percent.
The company expects to overcome the current challenges and continues to aim for its strategic target of achieving an EBITDA margin of 8 percent in the medium term, once the external markets have overall stabilized and the period of cost and sales pricing adjustments is over.
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