The invitation to the works meeting is in place, rotor blade production at Nordex is on the verge of ending – and the price is falling faster than expected…
The wind turbine manufacturer Nordex has lost a lot of value after a profit warning. The company’s paper slipped on the Frankfurt financial market to its lowest level since August 2020, and its price has meanwhile lost almost 20 percent.
As a result, Nordex shares came in last in the SDax small-cap index. Some industry observers were surprised by the extent of the loss.
No profit despite expansion plans?
The business with mechanical engineering technology for renewable energies is very promising overall in view of climate change and the accelerated expansion goals after the start of the war in Ukraine. Investors from Nordex have not been able to benefit recently – the German group also has supply chain problems, for example. According to its own statements, Nordex should only be in the black at best this year. The papers of the Danish competitor Vestas, for example, were hardly changed on Wednesday.
One of the two Nordex locations in Rostock is to be closed by the end of June. The Federal Ministry of Economics expressed “with great regret” the plan to phase out the production of rotor blades there. Around 600 employees are affected. There will be a works meeting in Rostock on Wednesday afternoon.
