By Adria Calatayud
Nordex on Friday reported a widened net loss for the first quarter as higher costs offset sales growth, but confirmed its guidance for 2023 as a whole.
The German wind-turbine maker said its net loss for the first three months of the year amounted to 214.8 million euros ($234.5 million) compared with a loss of EUR150.5 million in the same period last year.
Sales for the quarter grew to EUR1.22 billion from EUR933.0 million a year before. Order intake rose in value to EUR917 million from EUR903 million a year before, but orders in nominal output fell to 1.02 gigawatts from 1.165 gigawatts.
Nordex said its loss before interest, taxes, depreciation and amortization widened to EUR114.9 million from an Ebitda loss of EUR88.9 million, but that its Ebitda margin improved to minus 9.4% from minus 9.5%.
“We are still focused on processing our order book efficiently, as the high costs associated with old projects are still adversely impacting our margins,” Nordex Chief Executive Jose Luis Blanco said.
The company expects to improve its profit margin over the course of the year and confirmed its guidance for an Ebitda margin of 3% to minus 2%, with sales of between EUR5.6 billion and EUR6.1 billion.
Write to Adria Calatayud at [email protected]
Corrections & Amplifications
This item was corrected at 0727 GMT to reflect Nordex confirmed its guidance for an Ebitda margin ranging from 3% to minus 2%. The original version incorrectly said the company’s guidance was for an Ebitda margin of minus 2% to minus 3% in the last paragraph.
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