(RTTNews) - German wind turbine manufacturer Nordex Group (NRDXF.PK) reported Tuesday that its fiscal 2020 consolidated net loss widened to 129.7 million euros from 72.6 million euros last year.
EBITDA fell 24.1 percent to 94.0 million euros from 123.8 million euros a year ago. At 2 percent, the company's EBITDA margin reached the expected level but was well below the previous year's figure of 3.8 percent.
Consolidated sales increased sharply by 41.6 percent to 4.65 billion euros from 3.28 billion euros a year ago.
The company increased its production to around 6 GW in the year. The order book for new wind turbines was 5.3 billion euros, slightly down from 5.5 billion euros last year.
Looking ahead for fiscal 2021, Nordex anticipates a further rise in sales and operating profit. Consolidated sales are expected to reach 4.7 billion euros to 5.2 billion euros, with sales likely to be relatively evenly distributed across the year.
The Company is aiming for an EBITDA margin in a range of 4.0 to 5.5 percent. This is likely to increase gradually during the year as low-margin projects come to an end and the more profitable Delta4000 platform gains a greater share of projects.
Nordex currently expects the impact of the Covid-19 pandemic on its business to be reduced from the second quarter onwards.
Further ahead, Nordex said it is on the right track and confirmed its strategic targets for 2022 of sales of around 5 billion euros and EBITDA margin of 8 percent.
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