Nordex lays the foundation for the turnaround in the second half and strengthens balance sheet

Nordex lays the foundation for the turnaround in the second half and strengthens balance sheet

15.05.2012 – Sales up 8,3% to EUR 198,3 My. – Under-utilization leads to loss in Q1 (EBIT) of EUR 9 My. – Free Cash Flow dreht auf EUR 25,7 (-94,9) My.

Quarterly Report

In the first quarter 2012 Nordex Group (ISIN: DE000A0D6554) sales by 8,3 Percent to EUR 198,3 My. increases (Previous year: EUR 183,1 Mine). Thus, the volume of business was expected to almost 20% the projected annual revenue. This cyclical course is typical for the wind industry. The turnover was mainly in Europe, the most important sales region, worn. This increased the volume of business to 17,2% to EUR 169,3 My.

Operating income was negatively impacted by lower than average capacity utilization and profitability of projects with weaker. Earnings before interest and taxes (EBIT) amounted to 31.3.2012 EUR -9,0 My. (Q1/2011: 0,4 Mine). At the same time reduced its structural costs by about Nordex 10%. In particular due to the significant reduction of the balance of other operating income and expenses to 41,3%. After taxes and interest amounted to EUR net loss 14 My. (Q1/2011: EUR -1,8 Mine).

During the reporting period increased Nordex liquidity to EUR 230,7 My. (31.12.2011: EUR 212 Mine). Thus, the group's net debt reduced to EUR 23,4 My. (31.12.2011: EUR -54,0 Mine).
The decisive factor was the consistent working capital management.
Thus, Nordex declined largely due to an early pre-processing of projects, the later in the year to be realized. This was also reflected in the significant increase in positive operating cash flow to EUR 34,8 My. (Q1/2011: EUR -84,5 Mine) and in only a moderate increase in business volume against. Free cash flow increased to EUR 25,7 My. (Q1/2011: EUR -94,9 Mine).

A particularly favorable development of incoming orders, the to EUR 312 My. (Q1/2011: EUR 154 Mine) increased. This improved the order backlog to EUR 837 My. (Q1/2011: EUR 402 Mine) and therefore constitutes a solid basis for the sales target this year. The Management Board of Nordex AG confirmed its guidance for fiscal year 2012, for which he a turnover rose to EUR 1,0 to 1,1 Billion. has promised. Depending on sales volume and of the outlook for Nordex also expects an operating profit margin (EBIT) between 1% and 3% from. Due to the then rising capacity utilization and profitability of this gain will still be fully achieved in the second half of projects to be implemented.

Further inquiry note:
Ralf Peters
Head of Corporate Communication
Tel.: +49 (0)40 300 30 15 22

Issuer: Nordex
Long Chaussee 600
D-22 419 Hamburg
Phone: +49 (0)40 30030-1000
FAX: +49 (0)40 30030-1101
Business: Alternative energy
ISIN: DE000A0D6554, DE0000A0D66L2
Indices: Down, CDAX, HDAX, Prime All Share, Technology All Share, ÖkoDAX
Exchanges: Free trade: Berlin, Munich, Hamburg, Dusseldorf, Stuttgart,
Regulated Market / Prime Standard: Frankfurt
Language: German

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