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Nordex Group records sales and earnings growth in first half of 2021

  • Sales up 32 percent to EUR 2.7 billion in the first six months of the year
  • EBITDA of EUR 68.4 million results in EBITDA margin of 2.5 percent
  • Installations up 44 percent to 3.0 gigawatts
  • Guidance for 2021 maintained
  • Capital increase of EUR 586 million successfully completed in July and guarantee facility increased and extended until 2024; Revolving Credit Facility (RCF) cancelled ahead of maturity

Hamburg, 12 August 2021. The Nordex Group (ISIN: DE000A0D6554) announced today significant year-on-year growth in sales and earnings before interest, taxes, depreciation and amortization (EBITDA) in the first half of 2021. Sales rose to EUR 2.7 billion (H1 2020: EUR 2.0 billion) due to the sharp increase in activity levels. Gross revenue, which also includes changes in inventories, rose by almost 17 percent to EUR 2,324.5 million (H1 2020: EUR 1,990.0 million). The impact of the COVID-19 pandemic on the operating business only had a limited influence on the Group’s positive performance in the second quarter. However, the indirect effects of the pandemic were still clearly evident in the upheaval in the raw materials and logistics markets. Against this backdrop, EBITDA amounted to EUR 68.4 million (H1 2020: EUR -70.8 million). This corresponds to an EBITDA margin of 2.5 percent (H1 2020: -3.5 percent).

Operating performance

The Nordex Group increased its order intake in the Projects segment (excluding services) by 9.9 percent to 2.8 GW in the first six months of 2021 (H1 2020: 2.5 GW); this corresponds to a value of EUR 1,961.7 million after EUR 1,805.9 million in the previous year. Of this order intake (in MW), 71 percent was attributable to Europe and 29 percent to Latin America. At the end of the first half of the year, the Nordex Group’s order book amounted to EUR 7.7 billion (H1 2020: EUR 8.1 billion), which consisted of EUR 4.8 billion (H1 2020: EUR 5.4 billion) in the Projects segment and EUR 2.9 billion (H1 2020: EUR 2.7 billion) in the Service segment.

The Company increased its production in turbine assembly by 5.3 percent in the first half of 2021, from 2,948 MW in the first half of the previous year to 3,105 MW. The number of rotor blades produced by the Group’s own plants rose year-on-year to 819 units (H1 2020: 623 units). The Nordex Group also procured 1,209 rotor blades from external suppliers (H1 2020: 1,215 rotor blades).

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