Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Xetra  >  Nordex SE    NDX1   DE000A0D6554

NORDEX SE (NDX1)
Mes dernières consult.
Most popular
Report
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets

Nordex cuts sales goal as pressure on wind sector intensifies

share with twitter share with LinkedIn share with facebook
share via e-mail
0
11/14/2017 | 10:42am CET

German wind turbine maker Nordex (>> Nordex SE) has slashed its sales forecast for 2017, joining rivals in saying an industry shift towards awarding orders via auctions is hitting margins and demand in its core European market.

German wind turbine maker Nordex (>> Nordex SE) has slashed its sales forecast for 2017, joining rivals in saying an industry shift towards awarding orders via auctions is hitting margins and demand in its core European market.

Policymakers governing wind power generation have moved away from a regime based on subsidies to one of tenders, favouring project developers that can make low bids, which in turn puts massive pressure on equipment makers.

Denmark's Vestas (>> Vestas Wind Systems), the world's largest maker of wind turbines, saw its shares tumble by nearly a fifth last week when it cut its profit goal for this year, pointing to competitive auctions and possible regulatory changes in the United States.

That was only days after world No.2 Siemens Gamesa (>> Siemens Gamesa Renewable Energy) announced up to 6,000 job cuts, or more than a fifth of its workforce.

"The wind power industry is experiencing turbulent times," Nordex Chief Executive Jose Luis Blanco wrote to shareholders on Tuesday.

"Without question, our current business performance is being hit negatively by this intense competition, and especially the market turbulence caused by the newly introduced auction systems in Germany and India."

The group now expects sales slightly below 3.1 billion euros (2.76 billion pounds) this year, compared with 3.1-3.3 billion euros previously. Analysts had, on average, expected 3.18 billion.

Order intake almost halved in the first nine months of this year to 1.11 billion euros, the group said.

"Nordex's appalling Q3 order intake and guidance downgrade should trigger big questions for 2018," Barclays analysts wrote.

Shares in the group were down 4.6 percent, the biggest decliners in Frankfurt's technology index <.TECDAX>. The stock has lost nearly two-thirds of its value this year.

Nordex's third-quarter sales fell 4 percent to 818 million euros, higher than analysts' 785 million average forecast in a Reuters poll. At 64 million euros, earnings before interest, tax, depreciation and amortisation (EBITDA) also beat expectations.

Blanco declined to comment on whether major shareholder Acciona (>> Acciona) would raise its stake beyond the current 29.9 percent once a lock-up period ends next year as part of the German group's takeover of Acciona's wind business in 2015.

Sources told Reuters earlier this year that Acciona might do so, which would trigger a mandatory offer for the whole group.

(Editing by John Stonestreet and Mark Potter)

By Christoph Steitz

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on NORDEX SE
01/15 NORDEX : Falck Renewables and Nordex start the year with a 115 MW order for Swed..
01/15 NORDEX : Falck Renewables and Nordex start the year with a 115 MW order for Swed..
01/11 NORDEX : order intake of 1.6 GW in the fourth quarter of 2017
01/11 NORDEX : order intake of 1.6 GW in the fourth quarter of 2017
01/11 E.ON Starts Construction, Commercial Operation of New Wind Farms in the U.S.
01/09 Wind turbine maker Nordex wins U.S. orders
01/09 NORDEX : awarded three major contracts for a total of 820 MW in the United State..
01/09 NORDEX : awarded three major contracts for a total of 820 MW in the United State..
01/05 NORDEX : to install 191 MW for new customers in Spain
01/05 NORDEX : to install 191 MW for new customers in Spain
More news
News from SeekingAlpha
01/16 VESTAS WIND SYSTEMS : Short Term Troubles Provide A Fantastic Opportunity For Lo..
2017 European wind turbine makers plunge on U.S. tax proposal
2017 Nordex's (NRDXF) CEO José Luis Blanco Diéguez on Q2 2017 Results - Earnings C..
2017 Nordex AG reports 1H results
2017 Nordex AG reports Q1 results
Financials (€)
Sales 2017 3 078 M
EBIT 2017 90,4 M
Net income 2017 33,4 M
Debt 2017 133 M
Yield 2017 -
P/E ratio 2017 30,73
P/E ratio 2018
EV / Sales 2017 0,39x
EV / Sales 2018 0,44x
Capitalization 1 059 M
Chart NORDEX SE
Duration : Period :
Nordex SE Technical Analysis Chart | NDX1 | DE000A0D6554 | 4-Traders
Technical analysis trends NORDEX SE
Short TermMid-TermLong Term
TrendsBullishNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 15
Average target price 9,01 €
Spread / Average Target -17%
EPS Revisions
Managers
NameTitle
Franco Luis Blanco Dieguez Chief Executive Officer
Wolfgang H. Ziebart Chairman-Supervisory Board
Christoph Burkhard Chief Financial Officer
Jan Klatten Member-Supervisory Board
Martin Wolfgang Johannes Rey Member-Supervisory Board
Sector and Competitors
1st jan.Capitalization (M$)
NORDEX SE24.80%1 294
ABB LTD2.68%61 017
SHANGHAI ELECTRIC GROUP COMPANY LIMITED-1.35%13 412
ALSTOM6.34%9 947
ABB INDIA LTD10.48%5 266
CHINA XD ELECTRIC CO., LTD.4.35%3 629