Nordex Group Shows Steady Improvement in H1 2024, Revises Annual Guidance

Hamburg, 25 July 2024 - Nordex Group has announced significant progress in its financial and operational performance for the first half of 2024. Sales surged by 25 percent to EUR 3.4 billion, while the EBITDA margin improved to 3.4 percent. The company also reported a positive free cash flow of EUR 94 million in Q2.

In light of this stability, Nordex has updated its annual guidance, now forecasting an EBITDA margin of 3.0 to 4.0 percent. The company's order intake for H1 reached 3.4 GW, marking a 27 percent rise from the previous year. The total order book is now valued at EUR 11 billion.

Operationally, Nordex's turbine assembly production and rotor blade output saw increases, and the firm successfully installed 592 wind turbines across 20 countries. Sales in both the Projects and Service segments experienced growth.

Key financial metrics remained steady, with total assets at EUR 5.4 billion and an equity ratio of 17.9 percent. The working capital ratio is at minus 7.4 percent, reflecting a stable financial footing.

For further details, the complete interim report can be accessed on Nordex's website under Investor Relations.