Q4 2024 Nordex SE Earnings Call Transcript

Feb 27, 2025 / 01:00PM GMT

Release Date Price: €12.8

Transcript

Key Points

Positve

Nordex SE (NRDXF) achieved a record order intake in 2024, resulting in a high order book of EUR12.8 billion.
The company reported a robust free cash flow of EUR271 million for 2024.
Nordex SE (NRDXF) improved its EBITDA margin to 4.89% by the end of 2024.
The service business continues to grow, with revenues increasing by 15% and EBIT margins improving.
Nordex SE (NRDXF) remains the third largest onshore player worldwide in terms of order intake, excluding China.

Negative

Installations decreased by 8% in 2024, primarily due to customer schedule delays.
Turbine assembly decreased by 5% in 2024, indicating potential production challenges.
The company faces uncertainties in the US market, which could impact future growth.
Despite improvements, the EBITDA margin of 4.1% is still below the medium-term target of 8%.
There are ongoing provisions and warranty issues that may impact financials in the coming years.

Operator

Ladies and gentlemen, welcome to the Nordex full year figures 2024 conference call. I am Valentina, the chorus call operator. I would like to remind you that all participants will be in listen-only mode and the conference is being recorded. (Operator Instructions)

At this time, it's my pleasure to hand over to Anja Siehler. Please go ahead.

Anja Siehler

Nordex SE - Head of Investor Relations

Thanks, Valentina. And also a very warm welcome from the Nordex team in Hamburg. Thank you for joining the Q4 2024 Nordex conference call. As always, we ask you to take notice of our safe harbor statement. With me are our CEO, Jose Luis Blanco; and our CFO, Ilya Hartmann, who will lead you through the presentation. Afterwards, we will open the floor for your questions.

And now I would like to hand over to our CEO, Jose Luis. Please go ahead.

Jose Blanco Dieguez

Nordex SE - Chairman of the Management Board, Chief Executive Officer

Thank you very much for the introduction, Anja. And on behalf of management

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