Wind turbine manufacturer Nordex has released preliminary results for fiscal 2022 confirming its revised annual guidance. Based on these preliminary results, the Company generated consolidated sales of EUR 5.7 billion (previous year: EUR 5.4 billion) and reached the upper end of the guidance range of EUR 5.2 to 5.7 billion. . Earnings before interest, tax, depreciation and amortization (EBITDA) amounted to minus EUR 244 million (previous year: EUR 53 million), which corresponds to an EBITDA margin of minus 4.3 percent (previous year: 1.0 percent). Financial performance in the year was affected primarily by the current volatile macroeconomic environment, challenges with product quality and supply chain reliability, a cybersecurity incident in the first half, and the resulting overall impact on facilities partially offset by revenue from project development. activities.
The Nordex Group was able to successfully maintain working capital at favorable levels, reporting a working capital ratio of minus 10.2 percent relative to consolidated sales (previous year: minus 10.2 percent), well within the range of guidance of less than minus 7 percent.
Investments totaled around EUR 205 million (previous year: EUR 168.7 million) in 2022, higher than the forecast of around EUR 180 million.
With rising prices, a good order intake of 6.33 GW (previous year: 7.95 GW) was recorded with an improvement in market share despite a very challenging market environment.
“2022 has again been an extremely challenging year for the industry due to numerous macroeconomic headwinds. Despite these challenges, our team was able to maintain healthy momentum in terms of order intake with significantly improved sales prices, giving us a good platform for 2023. In the medium term, the wind markets continue to show great potential with the strengthening political momentum for renewable energy in Europe and the United States. This, coupled with a further stabilization of the macroeconomic environment, could pave the way for our medium-term margin target.” explains José Luis Blanco, CEO of the Nordex Group.
The figures announced with this press release are preliminary. The Nordex Group will publish the final and audited results for fiscal year 2022 along with guidance for 2023 on March 31, 2023.
The Group has installed around 44 GW of wind power capacity in more than 40 markets and generated revenue of €5.7 billion in 2022. The company currently employs a workforce of approx. 9,000. Joint manufacturing capacity includes factories in Brazil, Germany, India, Mexico, Spain and the United States. 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.