NORDEX SE : Reassuring guidance but impact of COVID-19 should be monitored
>Backlog at a historic high - In 2019, Nordex installed 938 wind turbines (vs 828 in 2018) in 21 countries with a total capacity of 3.1 GW (vs 2.5 GW in 2018). The group started 2020 with a well-stocked backlog of € 5.5bn, i.e. a 43% increase vs the previous year and a book to bill of 1.53x. At end-2019, Nordex had liquidity of € 510m (€ 610m at end-2018), giving net debt of just € 84m. Reassuring guidance but impact of COVID-19 should be monitored - §se...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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