NORDEX SE : Political uncertainties should not hinder Nordex's progress
>Q3 sees better-than-expected margin and very positive free cash flow - The Q3 EBITDA margin came to 4.3%, i.e. a 30bp beat, which is reassuring and confirms the margin recovery, even if in absolute terms, Q3 sales were below our forecast. The lower sales should be offset by the strong growth expected in installation volumes, sales, and margin in Q4. Management is now aiming for the high end of the margin guidance range in 2024 (between 3% and 4%). The other reassurin...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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