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NORDEX NARROWS GUIDANCE WITHIN FORECAST RANGE (ENG)

     (The following press release from Nordex was received by e-mail. It was 
not confirmed by the sender.) 
EANS-News: Nordex returns to operating profit 
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Corporate news transmitted by euro adhoc. The issuer/originator is solely
responsible for the content of this announcement.
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Financial Figures/Balance Sheet/Interim Report of the Nordex Group 9M
2012 
Subtitle: -    Increase in EBIT to EUR 15.4 million in the third quarter
-    Sales up 7% to EUR 715.5 million -    Management Board confirms and 
narrows guidance within the forecast range -    Additional expense 
caused by supplier issues -    Postponed new orders received in Q4 -    
Order book secures 2012 sales target 
Hamburg (euro adhoc) - Hamburg, 13 November 2012. In the first nine 
months of the current year, the Nordex Group (ISIN: DE000A0D6554) 
posted a 7 percent increase in sales to EUR 715.5 million (2011: EUR 
668.2 million). Business in Europe, which is the company's most 
important region, rose in particular, with sales climbing by 16 
percent. With business volume EUR 294.4 million, the third quarter 
was the strongest in the year to date and was up by 11 percent on the
previous year. 
Earnings before interest and taxes (EBIT) rose by 63% to EUR 15.4 
million in the third quarter (Q3/2012: EUR 9.4 million), due to 
improved capacity utilisation. Consolidated net profit for the 
previous quarter amounted to EUR 7.7 mil-lion (previous year: EUR 3.4
million). Nordex was thus able to fully recoup the loss which had 
arisen in the first half of the year, achieving operating earnings 
(EBIT) of EUR 2.3 million as of the reporting date (30 September 
2011: EUR 11.0 million). A substantial profit was earned in the 
Europe segment, whereas the operating loss in Asia widened, while 
Nordex USA came close to breaking even. 
A reduction of around 6 percent in structural costs without 
depreciation during the first nine month of the year also played a 
material role in the company's return to profit. With staff costs 
nearly unchanged, other operating expenses net of other operating 
income declined by around EUR 10 million. 
The balance sheet as of 30 September 2012 shows a high equity ratio 
of 33.6 percent. As expected, liquidity contracted due to the work 
commenced on turbines for short-term projects and related procurement
activities. Cash and cash equivalents amounted to EUR 120.3 million 
as of the reporting date. This trend is also reflected in working 
capital, with the working capital ratio rising to 24 percent (31 
December 2011: 27.7%) during the year. Net cash outflow from 
operating activities amounted to EUR 32.7 million (30 September 2011:
net cash outflow of EUR 62.8 million). 
At EUR 640.4 million as of 30 September 2012, order receipts were 
almost 10 percent down on the same date of the previous year due to 
the postponement of a number of major projects as well as regulatory 
uncertainties in some markets. As Nordex received some of these 
delayed contracts in October and November, the Group's new business 
is now up on the previous year. Firm orders amounted to EUR 735.1 
million as of the reporting date (previous year: EUR 515 million) and
thus ensure that the full-year sales target for 2012 will be 
achieved. In addition, Nordex had gained further conditional 
contracts valued at roughly EUR 1.6 billion (previous year: EUR 1.4 
billion). 
The Management Board continues to expect that sales will grow to EUR 
1.0 - 1.1 billion this year. With respect to operating earnings, it 
now expects the lower end of the target range to be reached. In view 
of delays in the delivery of externally sourced towers and rotor 
blades, which caused unforeseen additional expense, Nordex now 
projects a full-year EBIT margin of around 1 percent, down from the 
corridor of 1-3 percent previously indicated by the Board. 
Nordex is optimistic that it will be able to reach the upper end of 
the original forecast range for order intake, equivalent to new 
business of up to EUR 1.1 billion (previous year: EUR 1.1 billion). 
(EUR million) 9M/2012 9M/2011 Q3/2012 Q3/2011
Sales 715.5 668.2 294.4 264.9
Structural costs without depreciation 149.3 158.4 54.6 48.6
EBIT 2.3 11.0 15.4 9.4
Consolidated profit/loss -15.6 -0.6 7.7 3.4 
For more information, please contact: 
Nordex SE 
Ralf Peters
Telephone + 49 40 300 30 - 1000
rpeters@nordex-online.com 
Further inquiry note:
Oliver Kayser 
Investor Relations Manager 
Tel.: +49 (0)40 30030-1024 
E-Mail: okayser@nordex-online.com
 
 
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