Nordex faces headwind from higher logistics costs, expects demand growth — Panjiva
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Nordex faces headwind from higher logistics costs, expects demand growth

ESG 61 Earnings 759 Energy - Renewables 205 Quote Watch 452 U.S. 5399

Wind energy equipment producer Nordex reported Q4’20 revenues which rose by 10.5% year over year, with the firm expecting revenue growth of 10% in 2021 as it “expects the impact of the Covid-19 pandemic on its business to be reduced from the second quarter onwards”. That growth has yet to emerge with U.S. seaborne imports down by 34.8% year over year in January and February combined. The firm’s CEO, Jose Luis Blanco Diéguez has noted the firm faces higher costs from “commodity prices, raw material increase, logistic shortages in containers” which will also challenge its peers. Shipments ...

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