ROSTOCK (dpa-AFX) - German wind turbines maker Nordex (NRDXF.PK) announced that 2017 revenue is likely to be 3.1 to 3.3 billion Euros. The company specified that the reduced expectations are due to business in certain core markets.
The company predicts 2017 EBITDA-margin to remain almost stable, versus margin of 8.3% expected for 2016. The target range for operating margin is 7.8% to 8.2%.
Looking ahead, Nordex is targeting revenue of 3.4 to 3.6 billion Euros in 2018 and an unchanged EBITDA margin compared to the previous year. Despite lower capacity utilization, the board expects that the EBITDA margin will remain almost stable.
In addition, Nordex expects synergy benefits from the acquisition of Acciona Windpower and the almost complete lack of non-recurring expenses, which reduced earnings in 2016.
The company also announced that 2016 financial key figures will be in line with guidance. Guidance was for revenue of 3.35 billion Euros, an EBITDA margin of 8.3% and a working capital ratio of under 5%.
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