Press Release
Publisher: Nordex SE
Withdrawal of guidance for financial year 2020 due to COVID-19 pandemic; improved performance in Q1/2020
Hamburg (renewablepress) - Against the background of the worldwide impacts of the continuing COVID-19 pandemic on its business, the management board of Nordex SE (“Nordex”; ISIN DE000A0D6554) has decided today to withdraw the guidance for the current financial year 2020. That guidance was given subject to the pandemic’s effects and published together with the annual financial statements for the financial year 2019 on 24 March 2020.
Nordex’s performance improved substantially in line with expectations in the first quarter of 2020 compared to the same period of the previous year on the back of its high order backlog amounting to EUR 8.4 billion. Based on preliminary figures available to date, sales increased to EUR 964.6 million (Q1/19: EUR 398.9 million). Earnings before interest, taxes, depreciation and amortization (EBITDA) increased to EUR 13.1 million (Q1/19: EUR 3.3 million). As a result, the EBITDA margin is 1.4 percent (Q1/19: 0.8 percent). The increase in sales is particularly due to a substantially greater number of installations in the Projects segment. The figures of the first quarter of 2020 confirm the expected pattern of the company’s performance in 2020.
However, the impacts of the COVID-19 pandemic will affect the results of Nordex from the second quarter of 2020, which effects are not yet quantifiable. Because of the governmental restrictions and measures persisting worldwide for an incalculable period of time, the continuing COVID-19 pandemic has led to material disruptions and changes in significant parts of our operations, including, for example, in procurement and production. In view of the continuing uncertainty regarding the duration and severity of the disruptions and since, therefore, potential further consequences on supply chain, productions and execution of projects (installations) cannot be reliably assessed, the prerequisites for a realistic and robust estimation of Nordex’s performance do no longer exist.
Accordingly, the management board of Nordex has decided today to withdraw the guidance for the financial year 2020. In the current situation and since it is uncertain for how long it continues to exist it is not foreseeable when a new guidance for the current financial year 2020 will be possible.
The final figures and the complete report for the first quarter 2020 will be published on 11 May 2020.
For further information:
Head of Investor Relations
Nordex SE
Felix Zander
phone: 040 / 300 30 – 1116
fzander@nordex-online.com
Hamburg, 05 May 2020
Publication and Reprint free of charge; please send a voucher copy to Nordex SE.
Attention editorial offices - For further questions please contact:
Contact for investors:
Nordex SE
Felix Zander
Phone: +49 (0)40-30030–1000
E-Mail: fzander@nordex-online.com
Nordex SE
Langenhorner Chaussee 600
22419 Hamburg
Internet: https://www.nordex-online.com
Online press kit - all press releases from DE813076467
Press photos for editorial use only
Note: For the content of this press release the issuer / publisher of the release is »DE813076467« responsible.
The press release "Withdrawal of guidance for financial year 2020 due to COVID-19 pandemic; improved performance in Q1/2020" von DE813076467 is also available in the following languages:
More press releases from Nordex SE
- Nordex Group starts with order intake of 2.1 GW in the first quarter of 2024
- Nordex Group receives 80 MW order from Borusan EnBW Enerji in Türkiye
- Nordex Group receives orders for 295 MW from EDF Renewables in South Africa
- UKA places next major order for 253 MW with the Nordex Group
- Nordex Group receives 264 MW order from Lithuania
- Nordex Group receives 98 MW order from Sweden
- Nordex Group obtains order for 336 MW in South Africa
- TÜV SÜD awards Nordex Group with DIBt type approval for 179-metre hybrid tower developed in-house for the N175/6.X turbine
- Nordex Group increases consolidated sales in 2023 to EUR 6.5 billion and achieves positive operating result
- Nordex Group: preliminary annual figures for 2023 confirm guidance
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