HAMBURG (dpa-AFX) - Wind turbine manufacturer Nordex cannot rule out an operating loss this year either. The margin before interest, taxes, depreciation and amortization (Ebitda) is likely to be between minus 2 and plus 3 percent in 2023, the company announced in Hamburg on Friday when presenting its final figures for 2022. In comparison, the second half of the year is expected to develop better than the first six months. The start of the new year had been weak, Nordex CEO Jose Luis Blanco said in an interview with financial news agency dpa-AFX. The share price slumped.

The manager explained the poor start to the year with the time of year. In the winter months, he said, it is difficult to make up for earlier delays. "But we will see improvements from quarter to quarter," he said. Starting from a low level of activity and high costs, this is also necessary to meet the forecast, he added.

Nordex stock slid nearly 7 percent shortly after trading began. Most recently, it was still down around 6 percent. Analysts surveyed by the news agency Bloomberg had previously assumed an operating profit for this year. Expert Constantin Hesse from investment house Jefferies was surprised that the average sales price for incoming orders remained the same in the final quarter, while competitors had achieved price increases here.

Group CEO Blanco attributed this to easing cost inflation. "We have reached a plateau in pricing," he said in an interview. Nordex had managed to pass costs on to customers, but now costs were stabilizing at the wind turbine manufacturer, he said. Prices are in line with medium-term strategic profitability, he added.

In the medium term, Nordex aims to achieve an operating margin of 8 percent, with the core markets of Europe and the United States playing the most important role. He continued to leave it open in which year the medium-term targets would be achieved. This would depend on the speed of the expansion of renewable energies. The main driver is demand, he said, also appealing to politicians. He believes that the investment program initiated by the US government is the right one, and that the EU must follow suit.

In 2023, Nordex aims to generate sales of between EUR 5.6 billion and EUR 6.1 billion, up from EUR 5.7 billion last year. Analysts polled by news agency Bloomberg had previously expected the lower end of the range. The forecasts reflect the continuing tense market environment, the company said. Nevertheless, a stable economic environment with predictable costs and the reliability of the supply chains are essential prerequisites.

Nordex had already presented preliminary figures for 2022 three weeks ago, and these have now been confirmed. The bottom line was a loss for shareholders of almost half a billion euros, more than twice as much as in 2021./lew/ngu/mis