Nordex SE — Earnings Release 2001

Dec 17, 2001

News Details

Ad-hoc | 17 December 2001 07:59

Nordex AG english

Nordex on course for continued growth Ad-hoc-announcement processed and transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Nordex on course for continued growth Expectations in the first year of listing achieved in full / Total output up 31 % / EBIT up 6.8% Hamburg, December 17. 2001. The Nordex Group, one of the world’s leading manufacturers of wind turbines, increased its total output in fiscal 2000/2001 (October 1, 2000 – September 30, 2001) by 31 percent over the previous year to EUR 354.3 million (previous year: EUR 270.2 million). During the same period of time, the Company registered a 39 percent rise in order receipts to EUR 410 million (previous year: EUR 295 million). Earnings before interest and tax also rose by 6.8 percent to EUR 14.1 million (previous year: EUR 13.2 million). The fact that earnings did not grow as quickly as total output is due to high non-recurring charges primarily related to the scheduled start-up losses in connection with rotor blade production and expenditure on extending the international sales network. In the year under review, Nordex’s capital spending came to a total of EUR 22.3 million, with key items including the establishment of industrial rotor production and the development of new megawatt turbines. In 2002, Nordex will be assembling the first prototype of an offshore version of the N80 in coastal waters. Also on the agenda for next year is the launch of the N90, which with its rotor diameter of 90 meters has been especially designed for low-wind locations. As well as this, Nordex has commenced work on developing a 5 megawatt turbine for offshore parks. The first turbine is to be assembled in 2003, with series production to commence in 2005. A preliminary master contract has been signed with Winkra Energy for 70 of these turbines. Turning to fiscal 2001/2002, Nordex expects total output to increase by roughly 30 percent, spurred in particular by the successful megawatt turbines as well as the more extensive international sales network. The measures taken last fiscal year to improve the EBIT margin will start unleashing their effects. In this respect, rotor blade production, which is scheduled to break even in 2002, will play a crucial role. As well as this, Nordex will be able to make use of economies of scale by reducing its range to four basic models. The aim is for the margin to be increased to 5 percent. Contact: Public Relations, Ralf Peters, Bornbarch 2, 22848 Norderstedt, Germany, Tel.: +49 40 500 98 100, Fax: +49 40 500 98 333 end of ad-hoc-announcement (c)DGAP 17.12.2001 ——————————————————————————– WKN: 587357; ISIN: DE0005873574; Index: Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München, Stuttgart 170759 Dez 01