NORDEX SE : Towards a gradual rebound in profitability as of Q2
>Q1 2023 results even weaker than expected - Nordex reported its Q1 2023 results Friday morning, which were even weaker than expected. Consolidated sales were up 31% year-on-year to € 1,217m, benefiting from a marked rebound in installation volumes vs Q1 2022, but EBITDA was -€ 115m vs -€ 89m in Q1 2022 and -€ 70m expected by ODDO BHF. The EBITDA margin was -9.4% in Q1 2023, in line with Q1 2022 (-9.5%). EBIT was -€ 164m vs -€ 130.5m in Q1 2022 and our estimate of -€...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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