Nordex SE — Earnings Release 2013

Nov 14, 2013

News Details

Corporate | 14 November 2013 07:29

Nordex on track towards achieving full-year targets for 2013

Nordex SE / Key word(s): Quarter Results/Interim Report

14.11.2013 / 07:29

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* Sales up 47% to EUR 1,051 million
* Increase in EBIT to EUR 31 million
* 85% increase in order intake to EUR 1,186 million
* Earnings guidance confirmed, order intake goal raised

Hamburg, 14 November 2013. In the first three quarters of the current year,
the Nordex Group (ISIN: DE000A0D6554) posted a 47 percent increase in sales
to EUR 1,051 million (30 September 2012: EUR 716 million). This growth was
underpinned by business in the core EMEA market (Europe plus South Africa),
where Nordex generated 91 percent of its sales. Business in the Americas
and Asia accounted for six and three percent, respectively, of sales.

This strong operating performance was based on the substantially increased
production and installation output. Thus, production rose by 64 percent to
1,002 MW, with the volume of new installations climbing by 61 percent to
924 MW. With a disproportionately low increase in staff costs, this
testifies to the substantial efficiency gains which Nordex has achieved
thanks to its reorientation. Together with the execution of more profitable
projects, this resulted in a significant improvement in operating profit.
The gross profit climbed by some 39 percent to EUR 241.7 million as of 30
September 2013, accompanied by an increase in earnings before interest and
taxes to EUR 31 million (30 September 2012: EUR 2.3 million). Net profit
amounted to EUR 5.3 million (30 September 2012: net loss of EUR 15.6
million).

As of 30 September 2013, the equity ratio rose slightly to 27.7 percent (31
December 2012: 26.2%). Cash and cash equivalents amounted to EUR 138.6
million, with net debt at a still low EUR 54 million. Moreover, Nordex
achieved a working capital ratio of 11.2 percent, thus remaining within the
target range.

New business also remained promising. Firmly financed order intake rose by
85 percent to EUR 1,186 million (30 September 2012: EUR 640 million). At 79
percent, most of these came from the EMEA region, with the proportion of
non-European business widening slightly. Orders from the Americas accounted
for 12 percent and those from Asia for nine percent. All told, the backlog
of firm orders amounted to EUR 1,292 million as of 30 September 2013 (31
December 2012: EUR 1,049 million).

'We are very satisfied with our business performance in 2013 and are
reaffirming the guidance that we had previously increased in the summer for
the current year. As we are even more confident about our order intake, we
are now looking for a higher figure of EUR 1.4 - 1.5 billion. At the same
time, we confirm our expectation of being able to achieve our medium-term
goal in 2015,' says Dr. Jürgen Zeschky, CEO of Nordex SE. The Management
Board had forecast sales of EUR 1.3 - 1.4 billion and an EBIT margin of 2.5
- 3.5 percent for 2013. Sales should rise to at least EUR 1.5 billion and
the margin to 5 percent by 2015.

End of Corporate News

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Language: English
Company: Nordex SE
Langenhorner Chaussee 600
22419 Hamburg
Germany
Phone: 040 / 30030 1000
Fax: 040 / 30030 1101
E-mail: info@nordex-online.com
Internet: www.nordex-online.com
ISIN: DE000A0D6554
WKN: A0D655
Indices: TecDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover,
München, Stuttgart

End of News DGAP News-Service

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