The wind company has been in the red for years.
(Photo: dpa)
Hamburg The wind turbine manufacturer Nordex has confirmed its forecast for the year despite a decline in sales and earnings. From January to June, sales fell by a good fifth to 2.1 billion euros as a result of lower installations, the company announced on Sunday in Hamburg.
Adjusted for the realignment costs, earnings before interest, taxes, depreciation and amortization (Ebitda) slipped significantly into the red. Nordex posted a loss of EUR 143.7 million here, after EUR 68.4 million in the same period of the previous year.
In addition to the lower installations outside of Europe and Latin America, the company blamed the indirect effects of the pandemic and the Ukraine war through the dislocations in the energy, raw materials and logistics markets for the development.
Nordex had postponed the presentation of its quarterly results due to a cyber security incident and was kicked out of the SDax small-cap index due to the late announcement. The only major shareholder is the Spanish conglomerate Acciona, which holds almost a fifth of Nordex.
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Rising costs burden the wind industry
The Hamburgers had already started the new year with high losses. Other wind turbine builders such as Vestas and Siemens Gamesa are also facing sharp headwinds from rising costs and supply chain disruptions. Nordex recently carried out two capital increases with the support of its major shareholder, raising a total of EUR 351 million gross.
Company boss Jose Blanco expressed confidence in the announcement. In the medium term one will benefit from the good growth prospects of the wind power industry. “We continue to see a strong order situation and have a competitive product portfolio,” emphasized the manager.
More: Minus 5.5 percent return: Siemens Gamesa lowers the outlook again significantly
