(CercleFinance.com) – Nordex gained almost 1% in London, benefiting from an analysis by Oddo which confirmed its ‘neutral’ rating on the stock with an unchanged price target of 12 euros.
The analyst firm reports that Nordex released its Q2/H1 2022 results last night which came out weak as expected. Consolidated Q2 sales decreased by 17.4% to 1193 ME, reflecting a lower level of activity outside of Europe and Latin America.
In this context, the Nordex group confirms its forecasts for 2022, namely a consolidated turnover of 5.2 MdE to 5.7 MdE and an EBITDA margin of -4% to 0%.
‘The group’s profitability should gradually improve from H2 2022 as old orders are cleared and new ones start to be executed’, concludes the analyst.
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