Nordex SE — Earnings Release 2002

Nov 29, 2002

News Details

Ad-hoc | 29 November 2002 13:58

Nordex AG english

Nordex announcing preliminary fiscal 2001/02 figures Ad-hoc-announcement processed and transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Nordex announcing preliminary fiscal 2001/02 figures Turnover and EBIT up 26% Hamburg, November 29, 2002. The Nordex Group generated turnover of EUR 445 million between October 1, 2001 and September 30, 2002 (year-ago period: EUR 354 million), equivalent to growth of approx. 26 percent. At around EUR 440 million, sales grew by the same rate as in the previous year (EUR 347 million). Earnings before interest and tax (EBIT) climbed by roughly 26 percent to approx. EUR 17.8 million in the period under review (previous year: EUR 14.1 million), translating into an unchanged EBIT margin of 4.0 percent on turnover. As a result, the Company’s financial statements did not quite reach the original forecast. This was primarily due to the effects of the new construction-approval procedures in Germany, which delayed the commencement of some projects and left traces in the Company’s turnover and earnings. At the same time, the start-up costs in connection with the rotor-blade production facility, which went into operation in 2002, also exerted pressure on earnings. In spite of the positive earnings which Nordex achieved in this segment in the second half of 2001/02, the scheduled start-up costs arising in the first six months were not fully recouped in the year as whole as the commencement of production was delayed by around three months. Outlook This year, Nordex projects continued high demand for its megawatt-class turbines and assumes that the global market as a whole will expand by around 15 – 20 percent in terms of installed output. In fiscal 2002/03, Nordex expects an increase in turnover of the same magnitude in tandem with continued earnings growth, underpinned by a positive contribution to margins by rotor-blade production as well as savings derived from reducing the number of series and using identical components across the range. Nordex will be publishing its full audited financial statements as well as forecasts for fiscal 2002/03 on December 16, 2002 in electronic form as well as at its press conference on the same day in Hamburg and the analysts’ conference in Frankfurt. Key performance Year ending Year ending Change indicators in EUR mn September 30, September 30, 2001 2002 Sales 347 440 + 26% Total revenues 354 445 + 26 % EBIT 14.1 17.8 + 26 % EBIT margin 4.0 4.0 For more information, please contact: Nordex AG, Ralf Peters Telephone: +49 (0)40 / 50098 – 100, Telefax: +49 (0)40 / 500 98 – 333 end of ad-hoc-announcement (c)DGAP 29.11.2002 ——————————————————————————– WKN: 587357; ISIN: DE0005873574; Index: Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 291358 Nov 02