Nordex Group: preliminary annual figures for 2021 confirm guidance

The Nordex Group (ISIN: DE000A0D6554) today presented its preliminary figures for the 2021 financial year and confirmed its annual guidance revised on 8 November 2021. According to these preliminary figures, the Company generated consolidated sales of EUR 5.4 billion (previous year: EUR 4.7 billion), slightly above the guided range of EUR 5.0 to 5.2 billion. Earnings before interest, taxes, depreciation and amortization (EBITDA) amounted to above EUR 50 million (previous year: EUR 94.0 million), which corresponds to an expected EBITDA margin of around 1 percent (previous year: 2 percent).

The Company further improved its working capital ratio as a percentage of sales from minus 6 percent in the previous year to minus 10 percent in the year under review, well below the target level of less than minus 6 percent. This positive performance was primarily driven by the Group’s high order intake and strict working capital management.

The Nordex Group invested EUR 168.7 million during the year under review, which was slightly less than the target of EUR 180 million (previous year: EUR 162.9 million).

The Nordex Group achieved order intake of 7.95 GW in the 2021 financial year, significantly exceeding the previous year’s order volume of 6.0 GW despite the ongoing coronavirus pandemic and partly on the back of the order from Acciona of approx. 1 GW in Australia. These orders (in MW) break down by region as follows: Europe (58 percent), Latin America (21.0 percent), North America (9.0 percent) and the Rest of the World (12.0 percent). This distribution of orders across the different regions once again underlines the Nordex Group’s global positioning.

“The Nordex Group performed well amid challenging conditions in 2021 and remained on its growth trajectory, as reflected by the increase in its sales, installation, production and order intake figures. This was contrasted by extremely high costs for logistics – particularly for shipping – and raw materials, which had a significant adverse impact on our profitability as expected. While the environment will remain challenging in the short term, the medium and long-term outlook is still very positive, driven by global efforts to produce carbon-free electricity and the recent focus on ensuring regional energy security,” said José Luis Blanco, CEO of the Nordex Group.

The figures announced in this press release are preliminary. The Nordex Group will present its final audited figures for the 2021 financial year, including its guidance for 2022, on 29 March 2022.

The Group has installed more than 39 GW of wind power capacity in over 40 markets and generated sales of around EUR 5.4 billion in 2021. The Company currently has more than 8,600 employees. The Group’s manufacturing network includes factories in Germany, Spain, Brazil, the USA, India and Mexico. Its product portfolio is mainly focused on onshore turbines in the 4 to 6.X MW class which are designed to meet the market requirements of countries with limited available space and regions with limited grid capacity.