SHARE IN FOCUS: Business outlook drives Nordex up after share price weakness

FRANKFURT (dpa-AFX) – The business outlook of the wind turbine manufacturer Nordex convinced investors on Tuesday. With an increase of 6.4 percent to just under 15 euros, the paper recovered from the setback of the past few days. Within two weeks of the start of Russia’s war against Ukraine, they rose by a maximum of two-thirds to EUR 18.73. The driver was the hope of a lot of money for the expansion of renewable energies in order to reduce dependence on oil and natural gas. Most recently, however, the price had fallen back to just under the 14 euro mark.

Nordex aims to achieve sales of EUR 5.4 to 6.0 billion in 2022. Of this, before interest, taxes, depreciation and amortization (Ebitda margin), 1 to 3.5 percent should remain. The mean value of the target range for the operating result is above the average market expectation, explained analyst Constantin Hesse from the investment house Jefferies. He described the outlook as solid.

In a first comment, analyst Ajay Patel from the investment bank Goldman Sachs also spoke of an outlook that should be received positively, precisely because the environment for the industry is currently difficult. He referred to increased steel prices and supply chain problems.

“Depending on how the company manages to pass on the higher costs to customers on the one hand and how strong the pressure on politicians to accelerate the switch to renewable energies on the other hand, the share price should also benefit,” explained market expert Jrgen Molnar from broker Robo Markets./mis/tih/ngu