NORDEX SE : Q2 2020 results more impacted than forecast by COVID-19 but solid balance sheet
>Q2 2020 is more impacted than forecast by COVID-19 - Nordex yesterday morning reported its Q2/H1 2020 results. Q2 sales were up 80% to € 1,083m better than expected (€ 840m) thanks to an increase in installations compared to Q2 2019, but the group's EBITDA was negative at -€ 84m (vs €14m in Q2 2019), below our expectations (€ 0m), impacted by the additional costs related to COVID-19, which ultimately came out stronger than expected. The group did not communicate the...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.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.