Nordex SE announces solid growth for 2023 and optimistic outlook for 2024

The Nordex group today published its annual financial results for the year 2023, showing a 14% increase in its consolidated sales, reaching €6.5 billion. Aligned with the preliminary forecasts of February 12, 2024, the group achieved a positive operating result, with an EBITDA margin rate in balance. This performance highlights a clear recovery compared to the previous year, marked by an EBITDA margin of -4.3%.

In 2023, the company recorded significant growth in the installation of its facilities, totaling 7.3 GW, an increase of 39%. Free cash flow for the year also turned positive, with a year-end cash level of €926 million. This development is supported by a working capital ratio of -11.5%, exceeding forecasts.

Nordex's financial structure has been strengthened, notably through three key measures, thereby improving its net cash position. The group's order book also grew, totaling €10.5 billion. For the year 2024, Nordex forecasts turnover between 7.0 and 7.7 billion euros, with an EBITDA margin between 2.0% and 4.0%.

José Luis Blanco, CEO of the Nordex Group, highlights the successful stabilization of operations in 2023 in an improved market context, while emphasizing the importance of political conditions and stable supply chains for the future .