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Press Release

Herausgeber: Nordex SE

Nordex continuing to expand with targets for 2015 revised upwards

• Sales up 35% to EUR 1.1 billion
• 66% increase in EBIT to EUR 61.5 million
• Order intake up 49% to over EUR 1.3 billion
• Sales target for 2015 raised to EUR 2.0 - 2.2 billion


Hamburg - In the second quarter of 2015, the Nordex Group (ISIN: DE000A0D6554) achieved further strong momentum in its business, with sales climbing by more than 54% to EUR 603.8 million in this period (Q2/2014: EUR 390.9 million). Over the first half of 2015 as a whole, sales rose by 35% and sales came to EUR 1.1 billion during the period (H1/2014: EUR 815.4 million), particularly underpinned by strong demand in the company’s core European region, which contributed 86% of total sales. Nordex generated a further 14% of its business in the Americas. This sharp growth is also reflected in production output. Thus, turbine assembly output rose by around 75% to a record 1,013 MW (H1/2014: 579.1 MW).

At the same time, the group’s operating earnings improved significantly, with earnings before interest and taxes (EBIT) rising by 130% to EUR 36.7 million in the second quarter (Q2/2014: EUR 15.9 million). In the first half of 2015 as a whole, EBIT rose by 66% to EUR 61.5 million (H1/2014: EUR 37.1 million). Earnings were materially boosted by economies of scale. Thus, structural costs rose more slowly than business volume, causing the relevant ratio to shrink from 14.8% to 13.5%. Consolidated net profit climbed by 123% to EUR 36.9 million in the first half of the year due partly to a EUR 2.6 million improvement in net finance expense.

The company’s balance sheet remained solid and provided a key basis for its growth trajectory. Thus, liquidity increased again by 11.5% to EUR 433.2 million (31 December 2014: EUR 388.4 million). With total assets rising by 13.5% to EUR 1,406.8 million, Nordex has a stable high equity ratio of 30.8%. At -2.1% (31 December 2014: -2.3%), the working capital ratio remained at a good level and is fully in line with expectations. In addition, Nordex again generated positive free cash flow of EUR 41.9 million (H1/2014: EUR 70.0 million).

Order intake rose by 48.9% to EUR 1,353.5 million in the first half of the year (H1/2014: EUR 908.9 million). Consequently, the order backlog climbed by 25.7% to just under EUR 1.8 billion and secures the growth expected in 2015. In this connection it should be noted that the Management Board has now raised its guidance range for sales and now forecasts sales of EUR 2.0 – 2.2 billion (previously EUR 1.9 – 2.1 billion). At the same time, the forecast for order intake has been revised upwards. Accordingly, new business is expected to reach EUR 2.1 – 2.3 billion (previously: EUR 1.8 – 2.0 billion). In addition, Nordex continues to expect the operating margin to widen to 5.0 - 6.0%.

\"Nordex continues to grow strongly. At the same time, we are working systematically on improving our earnings. We are very optimistic for the current year and expect sales growth to substantially exceed the forecasts which we issued at the beginning of the year,\" said Lars Bondo Krogsgaard, CEO of Nordex SE.


Hamburg, 30 July 2015


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
Germany
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 development, manufacture, project management and servicing of wind turbines in the onshore segment has been the core competence and passion of the Nordex Group and its more than 7,900 employees worldwide since 1985. As one of the world's largest wind turbine manufacturers, the Nordex Group offers high-yield, cost-efficient wind turbines under the Acciona Windpower and Nordex brands that enable long-term and economical power generation from wind energy in all geographical and climatic conditions.

The focus is on turbines in the 3 to 5MW+ class, and the Group’s comprehensive product portfolio offers individual solutions for both markets with limited space and regions with limited grid capacities. With more than 29 GW of installed capacity worldwide, Nordex Group systems deliver sustainable energy throughout more than 80 per cent of the world’s energy market (excluding China).

Nordex SE is listed on the TecDAX of the Frankfurt Stock Exchange. The management holding company is headquartered in Rostock, while the executive board and administrative offices are based in Hamburg. At production facilities in Germany, Spain, Brazil, the US, and India, the Nordex Group produces its own nacelles, rotor blades and concrete towers. The Group also maintains offices and branches in more than 25 countries.

More Information about Nordex SE

Press Contact

Felix Losada

Felix Losada
Nordex SE
E-Mail: flosada@nordex-online.com
Phone: +49 - (40) - 300 30 - 1141