NORDEX SE : The road to a margin recovery is a little winding
>2024 guidance above forecasts on sales and a little conservative on margins - Nordex reported its 2023 results yesterday morning. Unsurprisingly, results were in line with the preliminary figures released two weeks ago. In 2024, Nordex forecasts consolidated sales of € 7-7.7bn (above forecasts of € 6.5bn) and an EBITDA margin of 2-4% (consensus at the top end of this range at 3.6%). The company expects the second half to be stronger than the first. Cons...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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