Nordex SE: Nordex targets profitable double-digit growth in 2015

2015-03-23 10:59:25
DGAP-News: Nordex SE / Key word(s): Final Results

2015-03-23 / 10:59


* Sales to increase to EUR 1.9 - 2.1 billion (2014: EUR 1.7 billion)
* EBIT margin of 5 - 6% expected (2014: 4.5%)
* 16% increase in order backlog to EUR 1.46 billion

Hamburg, 23 March 2015. On the basis of its audited consolidated financial
statements which have now been released, Nordex (ISIN: DE000A0D6554)
confirms the preliminary figures for 2014 reported in February. According
to these figures, the Group increased its sales by some 21 percent to EUR
1,734.5 million in 2014 (2013: EUR 1,429.3 million), with earnings before
interest and taxes rising by 76 percent to EUR 78.0 million (2013: EUR 44.3
million). Consolidated net profit grew almost four-fold to EUR 39.0 million
(2013: EUR 10.3 million). Due to the increased profit and a further
improvement in the working capital ratio to -2.3% (2013: 2.2%), free cash
flow rose to EUR 88.7 million (2013: EUR 23.8 million).

At EUR 1,754 million in 2014, order intake exceeded expectations slightly
and was up 16.7 percent on the previous year (2013: EUR 1,503 million).
With the book-to-bill ratio consistently positive, the backlog of firmly
financed orders continued to rise to EUR 1,462 million as of the reporting
date (2013: EUR 1,259 million).
"Our order book and the current strong momentum in demand for our products
form a good basis for a continued positive performance this year," said
Nordex CEO Dr. Jürgen Zeschky during the presentation of the full-year
figures in Frankfurt. The Management Board expects sales to continue to
grow at a double-digit rate to EUR 1.9 - 2.1 billion. At the same time, the
Company is working on improving its EBIT margin to 5 - 6% in 2015.

Nordex considers its top-line growth to be largely secured as firm orders
have for the most part already been received for the projects planned this
year. Thus, just a few days ago, it received a major order from Latin
America. Moreover, product development is proceeding according to plan,
with series production of the N131/3000 to commence in the summer. This
turbine is able to produce an up to 28% greater energy yield at light wind
locations. At the same time, Nordex has worked on lowering the costs of the
main components used in the turbine to harness efficiency gains.

Says Zeschky: "We remain committed to our strategic projects, i.e.
intensified product development, the programme aimed at continuously
lowering product costs, efficient project execution and expansion of our
service business. In this way, we want to substantially improve our
earnings and also achieve further volume growth by 2017. We are now more
optimistic about the mid-term sales target." Nordex announced its
medium-term forecast in September 2014 and will update it during the course
of the year.


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Language:    English                                                     
Company:     Nordex SE                                                   
             Erich-Schlesinger-Straße 50                                 
             18059 Rostock                                               
Phone:       +49 381 6663 3300                                           
Fax:         +49 381 6663 3339                                           
ISIN:        DE000A0D6554                                                
WKN:         A0D655                                                      
Indices:     TecDAX                                                      
Listed:      Regulated Market in Frankfurt (Prime Standard); Regulated   
             Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover,  
             Munich, Stuttgart                                           
End of News    DGAP News-Service  
335993 2015-03-23