FX.co ★ Nordex 9M Loss Narrows; Now Sees FY24 EBITDA Margin Closer To Top End Of Outlook Range

Nordex SE, a manufacturer of wind turbines, announced on Thursday a reduction in its consolidated net loss to €8.55 million for the first nine months of the fiscal year, significantly improved from the previous year's loss of €333.69 million. Correspondingly, the loss per share decreased to €0.04 from €1.47 a year ago.

The company's Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) surged to €189.5 million, a marked improvement from a loss of €66.6 million in the prior year. The EBITDA margin climbed to 3.7 percent from a negative 1.5 percent last year.

During this period, sales increased by 14 percent, reaching €5.11 billion, up from €4.48 billion in the previous year. Moreover, gross revenue saw a 9.6 percent increase to €4.85 billion, compared to €4.42 billion the prior year.

Looking forward to fiscal year 2024, Nordex anticipates that its EBITDA margins will approach the higher end of its previously guided range of 3.0 to 4.0 percent. The company aims to enhance its profitability further, setting a medium-term target of achieving an 8 percent EBITDA margin.