Nordex has published preliminary results for fiscal year 2023 and confirmed its guidance for the year.
According to the figures, the company recorded increased consolidated sales of €6.5bn, up from the previous year’s sum of €5.7bn, and exceeded the upper end of the forecast range of €5.6bn to €6.1bn.
Earnings before interest, taxes, depreciation, and amortization (EBITDA) reached break-even on a full-year basis at €2m (previous year -€244m).
This corresponds to an EBITDA margin of 0% (previous year: -4.3%) and is broadly in the middle of the guidance range of -2% to 3%.
The Nordex Group has improved its working capital ratio in relation to consolidated sales to -11.5% (previous year: -10.2%), below the guided -9%.
Investments in 2023 amounted to around €131m (previous year: €205m) and are well below the forecast figure of around €200m.
Nordex ended the year with a solid order intake of 7.4GW (previous year: 6.3GW) while maintaining stable prices and a promising order outlook.
“2023 was a transition year with a step-up in the right direction,” said Nordex Group chief executive José Luis Blanco (pictured).
“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.”
The Nordex Group will publish final and audited results for fiscal year 2023 together with guidance for 2024 on 29 February 2024.