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Herausgeber: Nordex SE

Nordex raises full-year guidance for 2013 following a strong first half

* Sales up 57% to EUR 661 million
* Increase in EBIT to EUR 15 million
* Consolidated net profit achieved
* Working capital ratio cut to 9.5%
* Increase in firm order backlog to EUR 1.3 billion

Hamburg - The Nordex Group (ISIN: DE000A0D6554) posted a 57% increase in sales to around EUR 661 million in the first half of 2013 (H1/2012: EUR 421 million). This positive trend reflects growing business in Europe, where Nordex generated 93% (H1/2012: 80%) of its sales. At the same time, the proportion of business from America and Asia taken together declined. This good operating performance is also attributable to the substantially greater production output and turbine installation. Thus, production of turbines rose 93% to 657.2 megawatts (MW), while the capacity of newly installed turbines doubled almost to 560.8 MW.

Earnings before interest and taxes (EBIT) improved significantly to EUR 15 million (H1/2012: loss of EUR 13.1 million at the EBIT level), materially underpinned by increased productivity, the successful marketing of new turbines and technical solutions and various cost-cutting efforts. These included, for example, a further reduction in product costs (“CORE 15”) and measures to reduce structural expenses. In this connection, Nordex decided in the second quarter of 2013 to discontinue production at its plants in the United States and China on account of their low capacity utilisation. The associated costs had already been included in the exceptional expense placed on the books in 2012. After tax, Nordex earned net consolidated profit of EUR 1.3 million in this period (H1/2012: net loss of EUR 23.3 million).

With a slight increase in the equity ratio to 28.4% as of 30 June 2013, the Group continues to have a stable balance sheet. Cash and cash equivalents amounted to EUR 174.7 million, with net debt amounted to a low EUR 18 million. At the same time, Nordex reduced its working capital ratio to 9.5% (H1/2012: 21.4%) thanks to strict cash management.

Nordex’s new business is continuing to grow at a considerable pace, with order intake up a further 61% to EUR 839.4 million (H1/2012: 521.8 million), thus reaching a new record. The group achieved substantial success in its core EMEA region, which accounted for 86% of new business. As a result, firm order backlog has risen of EUR 1.3 billion. In addition, the group has conditional orders on its books worth over EUR 1.0 billion.

On the strength of the favourable business performance in the year to date, Nordex SE’s Management Board has raised its forecast for the rest of the year and is now looking for full-year sales and order intake of EUR 1.3 - 1.4 billion in 2013 (previously: EUR 1.2 - 1.3 billion). The EBIT margin target has been adjusted upwards to 2.5 - 3.5% (previously: 2.0 - 3.0%) and the target corridor for the working capital ratio now stands at 10 - 15% (previously: 15%).

“The Management Board is very satisfied with Nordex’s current business performance. The strong demand for our turbines and our heightened productivity are showing that we are headed in the right direction with our strategy. We are now even more confident about the immediate future,” says Nordex CEO Jürgen Zeschky.

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Hamburg, 15 August 2013

Publication and Reprint free of charge; please send a voucher copy to
Nordex SE.

Attention editorial offices: For further questions please contact Mr. Ralf
Peters, Nordex SE.

Langenhorner Chaussee 600
22419 Hamburg
Tel: +49 (0)40/300 30 1000
Fax: +49 (0)40/300 30 1333
E-mail: rpeters@nordex-online.com
Internet: http://www.nordex-online.com


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About Nordex SE

The Nordex Group is one of the world's leading suppliers of wind turbines. The principal focus is on units with a high capacity - above all in the megawatt range: the strongest growth segment in the sector. Under the brand names Nordex, we offer powerful wind turbines for almost all geographic regions across the globe. Onshore and offshore, for desert and permafrost areas. With the largest serial produced wind turbine family in the world (N80/2500 kW, N90/2500 kW, N100/2500 kW and N117/2400 kW) and the powerful megawatt turbines N77/1500 kW and N82/1500 kW, Nordex is able to offer high-efficiency wind turbines for onshore use. The Nordex N150/6000 kW Offshore rounds off our megawatt product family with a machine especially designed for offshore use.
Today more than 4,500 Nordex wind turbines with a total rated output of more than 6,500 megawatts are already rotating in 30 countries of the world. We are represented with offices and subsidiaries in 19 countries.

More Information about Nordex SE