NORDEX SE : Still a very cautious stance
>Q3 2023 release in line at the EBITDA level but lower for EBIT - Nordex yesterday reported its Q3/9M 2023 results. While fairly uninspiring, the numbers were in line at the EBITDA level with € 48m in Q3 (2.8% of margin vs 3% expected) but fell short of expectations for EBIT (still in negative territory at -€ 1.3m) and for net income at -€ 35m vs -€ 15m expected (see page 2 for more details).2023 guidance range confirmed but the median point looks to be ...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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