Press Release
Publisher: Nordex SE
Nordex Group closes 2017 in line with guidance
- Sales of just under EUR 3.1 billion
- EBITDA margin of 7.9%
- Capital spending of EUR 144 million for future growth
- Structural costs permanently reduced by EUR 45 million
Hamburg (renewablepress) - On the basis of its preliminary figures, the Nordex Group (ISIN: DE000A0D6554) generated sales of EUR 3.08 billion in 2017 (2016: EUR 3.4 billion). This sales performance, guided during Q3, does also reflect some project delays. At the same time, the Group installed new capacity of 2.7 gigawatts in 2017, roughly the same as in 2016.
Operating earnings before interest, taxes, depreciation, amortisation and exceptionals for the “45 by 18” programme (EBITDA) came to EUR 242 million (2016: EUR 285.5 million). With an EBITDA margin adjusted for exceptionals of 7.9 percent, the Group also met its profitability expectations. In order to address the pressure on prices, Nordex launched and completed the cost reduction programme “45 by 18” in 2017 in order to achieve a sustainable structural cost reduction of EUR 45 million in 2018. At the same time, it invested EUR 144.3 million (2016: EUR 102.4 million) mainly for the development of new products. Last year, the company launched two new competitive turbine generations, which will strengthen sales and, thus, earnings in the years ahead.
The Group reduced its working capital ratio to 5.3 percent in the course of the year (31 December 2016: 4.1 percent), thus achieving the target corridor. This reflects the preliminary success of the working-capital programme as well as the many orders and corresponding prepayments arising in the fourth quarter.
“In 2017, we took intensive steps to adjust to the new market conditions. Thus, we have lowered our structural costs permanently and sped up the roll-out of new and substantially more efficient turbines in the market,” says José Luis Blanco, CEO of Nordex SE. The company will be publishing its annual financial statements for 2017 and the guidance for 2018 on 27 March 2018.
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Hamburg, 27 February 2018.
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Felix Losada
Phone: +49-40-300 30 – 1000
E-Mail: flosada@nordex-online.com
Nordex SE
Langenhorner Chaussee 600
22419 Hamburg
Internet: http://www.nordex-online.com
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About Nordex SE
The development, manufacture, project management and servicing of wind turbines in the onshore segment has been the core competence and passion of the Nordex Group and its more than 7,900 employees worldwide since 1985. As one of the world's largest wind turbine manufacturers, the Nordex Group offers high-yield, cost-efficient wind turbines under the Acciona Windpower and Nordex brands that enable long-term and economical power generation from wind energy in all geographical and climatic conditions.
The focus is on turbines in the 3 to 5MW+ class, and the Group’s comprehensive product portfolio offers individual solutions for both markets with limited space and regions with limited grid capacities. With more than 29 GW of installed capacity worldwide, Nordex Group systems deliver sustainable energy throughout more than 80 per cent of the world’s energy market (excluding China).
Nordex SE is listed on the TecDAX of the Frankfurt Stock Exchange. The management holding company is headquartered in Rostock, while the executive board and administrative offices are based in Hamburg. At production facilities in Germany, Spain, Brazil, the US, and India, the Nordex Group produces its own nacelles, rotor blades and concrete towers. The Group also maintains offices and branches in more than 25 countries.
Press contact at Nordex SE
Felix Losada
Mail: flosada@nordex-online.com
Phone: +49 - (40) - 300 30 - 1141
Press contact
Felix Losada
Nordex SE
Mail: flosada@nordex-online.com
Phone: +49 - (40) - 300 30 - 1141