Higher order intake: Nordex share nevertheless buckles: Nordex significantly increases sales | message

—While sales climbed by a third to 3.28 billion euros, Nordex was also able to increase its order intake significantly. It rose by 31 percent to 6.21 gigawatts, as the SDAX company announced on Monday in Hamburg when it released preliminary annual figures.

Earnings before interest, taxes, depreciation and amortization (Ebitda) increased by around 22 percent to EUR 123.8 million in 2019, but thus failed to meet the lowest expectations of analysts. The corresponding margin fell by 0.3 percentage points to 3.8 percent. The group initially did not disclose the surplus. Despite this, CEO José Luis Blanco was satisfied and referred to the fact that Nordex had achieved its goals for 2019.

Nordex had slipped deep into the red in the first nine months of the 2019 financial year and had suffered a high net loss. The wind power industry is currently suffering from high competition and corresponding price pressure. Nordex plans to announce the full balance sheet for 2019 on March 24. Then the group also wants to comment on the forecast for 2020.

This is how the Nordex share reacts

Weak business figures and investor fear of the coronavirus epidemic pushed Nordex stocks to their lowest level since September last year. The papers from the wind turbine manufacturer collapsed to a daily low of 8.95 euros in the collapsing overall market, putting them at the bottom of the SDAX small cap index.

In the evening, the paper closed 14.38 percent lower at 8.99 euros via XETRA.

The increase in earnings before interest, taxes, depreciation and amortization in the past year failed to meet analysts’ lowest expectations. Overall, the key data provided would have slightly missed the market forecasts, wrote expert Ajay Patel from US investment bank Goldman Sachs. The wind power industry is currently suffering from high competition and corresponding price pressure.

/ eas / jha /

HAMBURG (dpa-AFX)