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    NDX1   DE000A0D6554

NORDEX SE

(NDX1)
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Nordex Group and TPI Composites Agree on Unique Strategic Partnership in Addition to Collaborating in Turkey and India

07/23/2021 | 01:30am EDT

Nordex Group and TPI Composites have agreed on a unique strategic partnership in addition to collaborating in Turkey and India. As part of this innovative collaboration model, the Nordex Group will transfer the operation of its Mexican rotor blade production in Matamoros to TPI for a period of three years. Starting July 2021, during this period, both partners will further increase the efficiency and output of the rotor blade production, which mainly serves the American markets, by leveraging the unique expertise of TPI as a leading expert in rotor blade process technology. The Nordex facility currently produces two different rotor blade types. TPI will take over the facility and start blade production exclusively for the Nordex Group. The agreement also includes the details of the return of the fully operational facility to the Nordex Group in 2024. The agreement also has an extension option upon mutual agreement. In order to ensure production continuity, TPI will take over the approximately 1,500 employees of the Nordex rotor blade production facility in Matamoros. The transaction marks another milestone of the Nordex Group's growth path by further strengthening its global production footprint and increasing the flexibility of its key component supply chain. The Nordex Group and TPI have been working together closely for years: since 2013, the Nordex Group has been purchasing its rotor blades from TPI in Turkey, from TPI in China through 2020, and started buying rotor blades from TPI in India in 2021.


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Financials
Sales 2021 5 018 M 5 880 M 5 880 M
Net income 2021 1,27 M 1,49 M 1,49 M
Net cash 2021 388 M 455 M 455 M
P/E ratio 2021 3 921x
Yield 2021 -
Capitalization 2 466 M 2 887 M 2 890 M
EV / Sales 2021 0,41x
EV / Sales 2022 0,40x
Nbr of Employees 8 549
Free-Float 72,5%
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Mean consensus BUY
Number of Analysts 10
Last Close Price 15,41 €
Average target price 22,65 €
Spread / Average Target 47,0%
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Managers and Directors
JosÚ Luis Blanco Dieguez Chief Executive Officer
Ilya Taka Hartmann Chief Financial Officer
Wolfgang H. Ziebart Chairman-Supervisory Board
Jan Klatten Member-Supervisory Board
Martin Wolfgang Rey Member-Supervisory Board
Sector and Competitors