ROSTOCK (dpa-AFX) - Nordex SE (NRDXF.PK) has decided to withdraw the guidance for the current financial year 2020, due to the worldwide impacts of the continuing COVID-19 pandemic on its business
Nordex said its performance improved substantially in line with expectations in the first quarter of 2020 compared to the same period of the previous year on the back of its high order backlog amounting to 8.4 billion euros.
The company reported preliminary sales for the first-quarter increased to 964.6 million euros from 398.9 million euros last year, due to a substantially greater number of installations in the Projects segment.
Earnings before interest, taxes, depreciation and amortization or EBITDA for the first-quarter increased to 13.1 million euros from 3.3 million euros last year.
However, the impacts of the COVID-19 pandemic will affect the results of Nordex from the second quarter of 2020, which effects are not yet quantifiable.
Copyright RTT News/dpa-AFX
© 2020 AFX News
