NORDEX SE : Marked improvement in Q3, Q4 set to be the best quarter of the year
>Marked improvement in the trend in Q3 - Yesterday morning, Nordex reported Q3 2019 results which, as expected, showed a marked improvement on both a sequential and annual basis. Sales were € 952m (+17% y-o-y), EBITDA was € 43m (ODDO BHF at € 42m), i.e. an EBITDA margin of 4.5% (vs only 1.7% in H1 2019). EBIT came in at € 8m (ODDO BHF to € 16m) and adjusted EBIT was € 14m (ODDO BHF at € 22m), i.e. an EBIT margin of 0.8% (vs -3.8% in H1). This difference with our esti...Nordex is a holding company. Co. is a supplier of multimegawatt onshore wind turbines for locations characterised by strong, medium and light wind conditions. Co. focuses on developing and producing the entire system including the control software as well as the main core components and on providing related services. This mainly refers to the sale of wind power systems and, in selected markets, the upstream wind farm project development and sale of turnkey solutions. In addition, Co. assembles wind turbines and provides the necessary after-sales service. Co.'s finance department also supports customers to raise project finance via national and international commercial banks.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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