ROSTOCK (dpa-AFX) - German wind turbine manufacturer Nordex SE (NRDXF.PK) on Thursday reported profit for fiscal 2024, compared to a loss last year. Net sales were up 13 percent from a year ago. The company also guided sales and EBITDA margin for the year ahead.
The company posted consolidated net profit of 9 million euros or 0.04 euro per share in fiscal 2024, compared to a net loss of 303 million euros or 1.33 euros per share in the previous year.
Nordex SE's group sales came in at 7.3 billion euros for the year, 12.5 percent higher than the 6.5 billion euros recorded a year ago.
The company's EBITDA surged to 296 million euros from 2 million euros a year ago. The EBITDA margin came in at 4.1 percent, which was higher than the upper end of the outlook for fiscal 2024.
The company said that its 2024 order intake increased 20 percent to 7.5 billion euros from 6.2 billion euros last year.
Looking ahead, for fiscal 2025, Nordex SE expects consolidated sales between 7.4 billion and 7.9 billion euros. EBITDA margin is expected between 5.0 to 7.0 percent.
The company added that following the strong performance in 2024, it is reiterating its 8 percent EBITDA margin medium-term target.
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