The Nordex Group generated consolidated sales of EUR 4.0 billion in the first nine months of 2021 (9M 2020: EUR 3.2 billion). This sales growth is due to a strong performance in installations and production in the segment “projects”.
Earnings before interest, taxes, depreciation and amortisation (EBITDA) amounted to EUR 100.7 million (9M 2020: EUR 70.8 million), corresponding to an EBITDA margin of 2.5 percent (9M 2020: 2.2 percent).
The decrease in profitability is primarily a result of the effects of the increasing volatility in commodity and shipping costs, which adversely affected Nordex Group’s EBITDA and are expected to further impact results in the fourth quarter of 2021 as well as 2022. Prices of raw materials and logistics, shipping costs in particular, continued to increase to unprecedented levels.
The guidance for the financial year 2021 has been revised to take into account developments in the third quarter and the outlook for the fourth quarter. the Nordex Group now anticipates consolidated sales of EUR 5.0–5.2 billion (previously: EUR 4.7-5.2 billion) in 2021. Against the background of the unexpected cost increases because of the volatility in commodity and logistics markets, the operating (EBITDA) margin of previously 4.0-5.5 percent has been adjusted to around 1.0 percent.