NORDEX SE : No surprises in Q1 and confirmation of the targets despite the uncertainty
>Low margin in Q1 as expected - Nordex reported Q1 2021 results yesterday morning that came in above the FactSet consensus but missed our forecasts. Sales came to € 1,251m (+29.7%), beating our estimate of € 1,005m and the consensus forecast of € 1,008m, reflecting a higher level of activity than in the corresponding period of last year. In Q1 2021, Nordex increased its installations, installing 356 wind turbines in 20 countries with a total capacity of 1,400 MW (v...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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