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    ANA   ES0125220311

ACCIONA, S.A.

(ANA)
  Report
Delayed Bolsas y Mercados Espanoles  -  11:38 2022-10-03 am EDT
183.80 EUR   +1.77%
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Wind turbine maker Nordex sticks to 2022 sales drop forecast

08/14/2022 | 01:18pm EDT

FRANKFURT (Reuters) - German wind turbine maker Nordex reported a 21% fall in 2022 first half sales on Sunday, citing lower demand for installations, and stuck to a forecast of a drop for the year as a whole.

Nordex said the war in Ukraine, the COVID-19 pandemic and ensuing energy and logistics disruptions had led to negative first-half earnings before interest, taxation, depreciation and amortisation (EBITDA) of 173.3 million euros, after a positive 68.4 million euro result in the same year-ago period.

The company also reported a consolidated 283.2 million euro net loss for January to June, a sharp deterioration from a net loss in the comparable period of 2021 of 63.7 million euros.

Looking to the full year, consolidated sales in 2022 should come in between 5.2 and 5.7 billion euros, compared with 5.4-6.0 billion originally forecast, and the EBITDA margin at minus 4% to zero%, Nordex reiterated.

The EBITDA margin in the first half of the year was minus 8.1%. Nordex wants to achieve a margin of 8% as a strategic medium term target.

"With markets remaining challenging, our business performance in the second quarter was as expected," said chief executive Jose Luis Blanco.

But having strengthened its capital structure through capital increases in June and July and with a strong order book, Blanco said Nordex is confident it would benefit from positive growth prospects in the mid-term.

Nordex said the drop in installations in the second quarter was especially noticeable outside Europe and Latin America.

The value of new orders in the six-month period totalled 2.4 billion euros, which was 20.2% higher than a year earlier.

(Reporting by Vera Eckert; Editing by Alexander Smith)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
ACCIONA, S.A. 1.77% 183.8 Delayed Quote.7.44%
NORDEX SE 1.93% 8.344 Delayed Quote.-36.93%
VESTAS WIND SYSTEMS A/S -0.27% 141.24 Delayed Quote.-29.19%
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Analyst Recommendations on ACCIONA, S.A.
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Financials
Sales 2022 9 271 M 9 121 M 9 121 M
Net income 2022 390 M 384 M 384 M
Net Debt 2022 5 059 M 4 977 M 4 977 M
P/E ratio 2022 23,7x
Yield 2022 2,33%
Capitalization 10 052 M 9 888 M 9 888 M
EV / Sales 2022 1,63x
EV / Sales 2023 1,70x
Nbr of Employees 44 476
Free-Float 43,3%
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Mean consensus HOLD
Number of Analysts 11
Last Close Price 183,80 €
Average target price 203,66 €
Spread / Average Target 10,8%
EPS Revisions
Managers and Directors
JosÚ Manuel Entrecanales Domecq Chairman & Chief Executive Officer
JosÚ ┴ngel Tejero Santos Group Chief Financial Officer
Arantza Ezpeleta Puras Director-Technology & Innovation
Raul Rivero Head-Technology
Vicente SantamarÝa de Paredes Castillo Director-Compliance
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