Nordex has reported losses of €200m in earnings before interest, taxes, depreciation, and amortisation (EBITDA) in the first nine months of 2022, compared with €101m.
The turbine manufacturer reported an EBITDA margin of -5.2% for the first nine months, compared with 2.5% in the same period in 2021.
Results were “hampered by the persistently strong inflationary environment and supply chain disruption in particular”, Nordex stated.
The company has tightened its guidance for the 2022 financial year with the operating margin (EBITDA margin) now expected to be at the lower end of the guidance range issued on 24 May 2022 at around -4%.
The latest improving selling prices for new incoming orders will start to have a positive impact after some time next year, the company added.
In the first three quarters of 2022, order intake in the Projects segment (excluding services) came to a 4.4GW, compared with 4.6GW in the same period in 2021, corresponding to a value of €3.6bn, compared with €3.2bn in the same period in 2021.
The average selling price (ASP) per megawatt of output in the third quarter was up 32% on the prior-year period at €910,000.
Of the new orders, 69% were attributable to Europe, 26% to Latin America and 5% to North America.
By the end of September 2022, Nordex had an order book of nearly €9.7bn, compared to €8bn in the first nine months of 2021.
During the third quarter of 2022, Nordex also unveiled the N175/6.X, its newest turbine in the Delta4000 series.
José Luis Blanco, CEO of Nordex, said: “In a challenging market environment, we managed to achieve higher selling prices for new orders that will compensate for the massive cost increases triggered by external factors and boost our profitability in the medium term.
“Focusing on the future, we presented our new N175/6.X turbine.
“In doing so, we are adding a highly efficient turbine to our product range that will enable us to meet the anticipated increase in demand from our customers over the next few years even more effectively.”