Nordex expects to be burdened by increased costs
The wind turbine manufacturer Nordex is anticipating burdens from higher costs due to the current uncertainty on the raw material and logistics markets. Instead of the previously expected profit margin of 4.0 to 5.5 percent, the Full year operating profit 1.0 percent expected, announced the group on Monday evening after the stock market closed in Hamburg. However, it should consolidated sales are now between 5.0 and 5.2 billion euros. So far, the board had expected 4.7 billion euros in the worst case. Nordex emphasized that the current forecast is subject to greater uncertainty than under normal circumstances.
In the first nine months of the year, Nordex generated 4.0 billion euros, a quarter more than a year ago. Earnings before interest, taxes, depreciation and amortization rose by around 42 percent to 100.7 million euros. That corresponds to a margin of 2.5 percent. The group plans to publish the figures for the third quarter on Monday, November 15th. In an initial reaction, the Nordex share price plummeted by more than three percent on the Tradegate trading platform.