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MarketScreener Homepage  >  Equities  >  Bolsas y Mercados Espanoles  >  Acciona S.A.    ANA   ES0125220311

ACCIONA S.A.

(ANA)
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Wind turbine maker Nordex's loss widens under margin pressure

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11/13/2019 | 04:37am EDT
A worker looks at a wing which is being mechanically lifted at the Nordex wind turbine factory hall in Rostock

German wind turbine maker Nordex fell further into the red in January-September, it said on Wednesday, while its negative free cash flow nearly doubled due to increased investments in rotor blade production in Mexico and Spain.

Total capex nearly doubled in the first nine months of the year to 101 million euros (86.7 million pounds) from 60 million in the same period last year, Nordex, which is subject to a low-ball takeover bid from top shareholder Acciona, said.

Its nine-month net loss widened to 77 million euros, from 52 million a year earlier, while free cash flow was at a negative 156 million, compared with -84 million a year ago.

Nordex's shares were down 2.6% to 12.20 euros at 0907 GMT, with traders pointing to profit taking following the results.

Its current share price is higher than Acciona's 10.32 euros-per-share bid, unveiled last month. Acciona had to make the offer after it surpassed the 30% ownership mark as part of a capital raising Nordex carried out.

It now has a stake of 36.27% in the German group.

Wind turbine makers are currently grappling with a global shift away from subsidies and towards a market-based approach which rewards developers that make the lowest bid for projects and puts pressure on profit margins.

Last week, Nordex's larger rival Siemens Gamesa delayed its 2020 outlook by two years, hit by lower onshore and offshore prices for its turbines amid global trade tensions and uncertainty over Britain's departure from the European Union.

Nordex kept its 2019 targets, still expecting sales of 3.2 billion-3.5 billion euros and a core profit (EBITDA) margin of 3-5%.

(Reporting by Christoph Steitz; Editing by Susan Fenton)


Stocks mentioned in the article
ChangeLast1st jan.
ACCIONA S.A. 2.07% 96.1 Delayed Quote.2.45%
ALCON INC. 2.51% 56.46 Delayed Quote.3.03%
AT HOME GROUP INC. 3.09% 22.72 Delayed Quote.313.09%
JUST GROUP PLC -0.68% 46.64 Delayed Quote.-40.96%
NORDEX SE -1.68% 12.87 Delayed Quote.6.54%
SHIFT, INC. -10.88% 14340 End-of-day quote.79.70%
SIEMENS AG 0.59% 109.66 Delayed Quote.-5.90%
SIEMENS GAMESA RENEWABLE ENERGY, S.A. 0.68% 25.34 Delayed Quote.62.07%
THE GLOBAL LTD. -0.92% 216 End-of-day quote.-54.14%
WILL GROUP, INC. 1.55% 852 End-of-day quote.-31.95%
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Financials
Sales 2020 6 704 M 7 951 M 7 951 M
Net income 2020 247 M 293 M 293 M
Net Debt 2020 5 554 M 6 587 M 6 587 M
P/E ratio 2020 22,2x
Yield 2020 3,00%
Capitalization 5 240 M 6 203 M 6 216 M
EV / Sales 2020 1,61x
EV / Sales 2021 1,48x
Nbr of Employees 35 741
Free-Float 38,5%
Chart ACCIONA S.A.
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Technical analysis trends ACCIONA S.A.
Short TermMid-TermLong Term
TrendsNeutralBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 14
Average target price 104,08 €
Last Close Price 96,10 €
Spread / Highest target 37,4%
Spread / Average Target 8,31%
Spread / Lowest Target -14,7%
EPS Revisions
Managers
NameTitle
José Manuel Entrecanales Domecq Chairman & Chief Executive Officer
José Ángel Tejero Santos Group Chief Financial Officer
Arantza Ezpeleta Puras Chief Technology & Innovation Officer
Daniel Entrecanales Domecq Director
Juan Ignacio Entrecanales Franco Vice Chairman & Executive Vice President
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