Nordex Group: preliminary annual figures for 2023 confirm guidance

• Consolidated sales increase to EUR 6.5 billion
• 2023 EBITDA margin reaches break-even
• Working capital ratio at minus 11.5 percent

Hamburg, 12 February 2024. The Nordex Group (ISIN: DE000A0D6554) today published preliminary results for fiscal year 2023 and confirms its guidance for the year. According to these preliminary results, the Company recorded increased consolidated sales of EUR 6.5 billion (previous year: EUR 5.7 billion) and exceeded the upper end of the forecast range of EUR 5.6 to 6.1 billion. Earnings before interest, taxes, depreciation, and amortization (EBITDA) reached break-even on a full-year basis at EUR 2.0 million (previous year: minus EUR 244 million). This corresponds to an EBITDA margin of zero percent (previous year: minus 4.3 percent) and is broadly in the middle of the guidance range of minus 2 to plus 3 percent. 

The Nordex Group has improved its working capital ratio in relation to consolidated sales to minus 11.5 percent (previous year: minus 10.2 percent). Thus, the ratio is again clearly below the guided minus nine percent. 

Investments in 2023 amounted to around EUR 131 million (previous year: EUR 205 million) and are therefore well below the forecast figure of around EUR 200 million.

Nordex ended the year with a solid order intake of 7.4 GW (previous year: 6.3 GW) while maintaining stable prices with a promissing order outlook.

"2023 was a transition year with a step-up in the right direction. Looking back, business performance has developed as assumed at the beginning of the year. After a weak start, as expected, we gradually improved each quarter with a stronger second half of the year. Overall, we reached break-even in terms of profitability and now have laid a good foundation for our further business development," explains José Luis Blanco, CEO of the Nordex Group.

The figures announced with this press release are preliminary. The Nordex Group will publish final and audited results for fiscal year 2023 together with guidance for 2024 on 29 February 2024.

 About the Nordex Group

The Group has installed around 44 GW of wind energy capacity in over 40 markets and generated revenues of EUR 6.5 billion in 2023. The Company currently employs a workforce of approx. 10,000. The joint manufacturing capacity includes factories in Germany, Spain, Brazil, the United States (mothballed), India, and Mexico. The product portfolio is focused on onshore turbines in the 4 to 6.X MW class, which are tailor-made for the market requirements of countries with limited space and regions with limited grid capacity.

Contact person for press:

Nordex SE

Felix Losada

Phone: +49 (0)40 / 300 30 – 1141

flosada@nordex-online.com

Contact for investors:

Nordex SE

Felix Zander

Phone: +49 (0) 152 0902 4029

fzander@nordex-online.com

Nordex SE

Tobias Vossberg

Phone: +49 (0) 173 4573 633

tvossberg@nordex-online.com

Nordex SE

Torben Rennemeier

Phone: +49 (0) 152 3461 7954

trennemeier@nordex-online.com