News Details


Nordex entering a new league in 2016

2016-03-21 11:11:51
DGAP-News: Nordex SE / Key word(s): Final Results/Forecast

2016-03-21 / 11:11
The issuer is solely responsible for the content of this announcement.


* Merger with Acciona Windpower to be finalised at the beginning of April
* Further sales growth to more than EUR 3.4 billion 
* EBITDA margin of over 7.5% expected
* Preliminary full-year figures for 2015 confirmed

Hamburg, 21 March 2016. On the basis of its audited consolidated financial
statements which have now been released, the Nordex Group (ISIN:
DE000A0D6554) is able to confirm the preliminary data for 2015 which it
reported in February.

According to these figures, sales rose by around 40% to EUR 2,430.1 million
in 2015 (2014: 1,734.5 million). Earnings before interest and taxes (EBIT)
climbed by just under 62% to EUR 126.2 million (2014: EUR 78.0 million).
Accordingly, operating profit (EBIT) came within the forecast, while sales
slightly exceeded the guidance range, which had been most recently adjusted
upwards in November.

Consolidated net profit rose by some 34% to EUR 52.3 million (2014: EUR
39.0 million), translating into earnings per share of EUR 0.65 (2014: EUR
0.48). The net profit is affected by a high tax rate due to lost tax losses
carried forward in context with the forthcoming change of the main
shareholder. These negative tax effect has been fully taken into account in
the 2015 annual statements. Thanks to the increased profit and the
persistently low working capital ratio of -1.2% (2014: -2.3%), free cash
flow widened by a further 5% to EUR 94.6 million.

Nordex also achieved new records in its operating indicators: in addition
to order intake, which rose by 41% to EUR 2,470.9 million (2014: EUR
1,753.9 million), the turbine assembly output of 1,899 MW (2014: 1,417 MW)
and the installation output of 1,697 MW (2014: 1,489 MW) reached the
highest levels ever in the company's history of more than 30 years.

Following the merger with Acciona Windpower, for which antitrust clearance
has recently been received, Nordex will be adding a new chapter to its
history. The transaction is to be finalised both legally and commercially
at the beginning of April. Based on the already published firm order
backlog, Nordex and Acciona Windpower are jointly seeking sales of over EUR
3.4 billion and an EBITDA margin in excess of 7.5% in 2016.

In addition to current demand, the outlook is also based on the increased
order backlog for turbine engineering. The volume of firmly financed orders
placed with Nordex increased by 14% to EUR 1,668.0 million on the reporting
date (31 December 2014: 1,461.6 million). This will be supplemented by the
company's own service business and, from the second quarter, Acciona
Windpower's activities. According to the Acciona Group, order backlog
stands at 1,140 MW as of 31 December 2015.

"We started 2016 backed by a good order book and continue to observe strong
demand in our focus markets such as Germany, France and Turkey. Looking
forward, Acciona Windpower markets, e.g. India and Mexico, will also be
contributing to our growth. In addition, we will be benefiting to a greater
extent from the renewal of the production tax credits in the United
States," says Chief Executive Officer Lars Bondo Krogsgaard and adds: "This
give us a very good basis for further growth and an excellent starting
point for the coming year. In addition to transforming the two companies
into a single entity, we also want to achieve progress in the quality of
our earnings on the basis of improved products."

About Nordex
As one of the technological leaders in multi-megawatt wind power systems,
Nordex is benefiting from the trend in favour of large-scale turbines. The
Generation Gamma range comprises the N90/2500, N100/2500 and the N117/2400,
which is one of the most efficient series turbines for non-coastal regions.
To date, over 3,600 of these turbines have been produced. With Generation
Delta, Nordex is now offering the fourth generation of its proven
multi-megawatt platform (N100/3300, N117/3000, N131/3000 as well as the
N131/3000 for the German market). Nordex has installed a total of around
7,000 turbines with an aggregate capacity of more than 13,000 MW all around
the world. With exports accounting for around 70 percent of its business,
Nordex SE also plays a key role in international high-growth regions. The
Company has offices and subsidiaries in more 20 countries around the world
The Group currently has around 3,300 employees around the world. In October
2015, the Nordex Group announced that it would be merging with the Spanish
turbine producer Acciona Windpower.


2016-03-21 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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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; Terminbörse EUREX                        
     End of News    DGAP News Service