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Nordex SE / Key word(s): Forecast
23-Feb-2017 / 16:59 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR, transmitted by
DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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Hamburg, 23 February 2017. During a review of the budget for the financial
year 2017 and the medium-term target 2018, the Management Board of Nordex
SE (ISIN: DE000A0D6554) concluded today that revenue this year is likely to
amount to 3.1 to 3.3 billion Euros. Reduced expectations for business in
certain core markets are the reasons for a lower revenue expectation in
2017 compared to 2016 and the previous budget.
The EBITDA-margin in 2017 is, however, expected to remain almost stable,
compared with the margin of 8.3% expected for 2016. The target range for
the operating margin is 7.8% to 8.2%. Nordex is targeting revenue of 3.4 to
3.6 billion Euros in 2018 and an unchanged EBITDA margin compared to the
previous year.
Despite lower capacity utilization, the Management Board expects that the
EBITDA margin will remain almost stable as stated above. The main basis for
this development is the internal programme to reduce the cost of energy
(COE), which Nordex is using to counteract the pricing pressure. In
addition, Nordex expects synergy benefits from the acquisition of Acciona
Windpower and the almost complete lack of non-recurring expenses, which
reduced earnings in 2016.
The Management Board will publish preliminary results for 2016 and further
details on the outlook for the financial year 2017 and the targets for 2018
on 1 March. The work currently underway to prepare the accounts for the
financial year 2016 suggests that financial key figures will be in line
with guidance. Guidance was for revenue of 3.35 billion Euros, an EBITDA
margin of 8.3% and a working capital ratio of under 5%.
Lars Bondo Krogsgaard, CEO, and Christoph Burkhardt, CFO, will be available
to discuss this announcement on a conference call this evening at 5:45 pm
CET.
Phone number: +49 (0)69 22 22 13 420
Pin Code: 50 87 010
Ansprechpartner für Rückfragen:
Nordex SE
Ralf Peters
Telefon: 040 / 300 30 - 1522
rpeters@nordex-online.com
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23-Feb-2017 CET/CEST The DGAP Distribution Services include Regulatory
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Language: English
Company: Nordex SE
Erich-Schlesinger-Straße 50
18059 Rostock
Germany
Phone: +49 381 6663 3300
Fax: +49 381 6663 3339
E-mail: info@nordex-online.com
Internet: www.nordex-online.com
ISIN: DE000A0D6554
WKN: A0D655
Indices: TecDAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover,
Munich, Stuttgart, Tradegate Exchange
End of Announcement DGAP News Service