DGAP-News: Nordex targets further growth and improvement in earnings in 2014

DGAP-News: Nordex targets further growth and improvement in earnings in 2014

DGAP-News: Nordex SE / Key word(s): Final Results
Nordex targets further growth and improvement in earnings in 2014

24.03.2014 / 11:59


* Management Board confirms return to profitability
* Positive free cash flow of EUR 23.8 million
* Market share in the core EMEA region doubled to around 11%
* Outlook for 2014: Sales to rise to EUR 1.5 billion,accompanied by an EBIT
margin improvement to 3.5 - 4.5%

Hamburg, 24 March 2014. On the basis of its audited consolidated financial
statements, Nordex (ISIN: DE000A0D6554) confirms the preliminary figures
for 2013 which it had reported in February. Thus, consolidated sales rose
by around 33 percent to EUR 1,429.3 million (previous year: EUR 1,075.3
million), with return on sales widening to 3.1 percent. Consolidated profit
after interest and taxes amounted to EUR 10.3 million, compared with a loss
of EUR 94.4 million in the previous year, which arose mainly as a result of
exceptional expenses in connection with the strategic realignment of the

The gross margin expanded from 21.4 percent to the planned level of 22.6
percent in 2013. This substantial improvement reflects operating measures
such as cuts in the cost of materials of an average of around EUR 100,000
per turbine, more profitable contracts with new products and more
professional execution of projects.

This development was particularly encouraging as Nordex's production and
installation output simultaneously reached a new record. Thus, turbine
assembly output rose by 48 percent to 1,342 MW, while installations of new
wind turbines increased by 36 percent to 1,254 MW. In this way, Nordex was
able to outperform industry trends and double its market share to almost
eleven percent in its core EMEA region. In addition, Nordex installed wind
power systems in South Africa and Uruguay for the first time. Consequently,
Nordex is once again amongst the world's ten largest producers of onshore
wind turbines.

The Management Board projects a further increase in sales of up to EUR 1.5
billion for the current year, which is almost fully covered by the order
backlog. "I am optimistic about the outlook for our future growth. Thus, we
expect order intake of up to EUR 1.6 billion in 2014. However, even more
important than business volume is the steady improvement in our earnings
quality. We are targeting an EBIT margin of between 3.5 and 4.5 percent for
2014, supported by further progress in our "CORE 15" cost-cutting programme
and the commencement of series production of our new Delta product
platform," says CEO Dr. Jürgen Zeschky.

In addition, the Management Board expects that the recently completed
refinancing will reduce interest expense and thus have a positive impact on
consolidated net profit. In addition, Nordex is aiming for a net cash
inflow from operating activities for the third consecutive year (2013: EUR
98.1 million).  Free cash flow amounted to EUR 23.8 million in 2013.

As of the reporting date (31 December 2013), Nordex had a substantially
improved balance sheet with an equity ratio of 30.9 percent (31 December
2012: 26.2%) and an increase in net liquidity to EUR 119.4 million (31
December 2012: EUR 29.6 million).

End of Corporate News


24.03.2014 Dissemination of a Corporate News, transmitted by DGAP - a
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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                                      
E-mail:      info@nordex-online.com                                 
Internet:    www.nordex-online.com                                  
ISIN:        DE000A0D6554                                           
WKN:         A0D655                                                 
Indices:     TecDAX                                                 
Listed:      Regulierter Markt in Frankfurt (Prime Standard);       
             Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover,  
             München, Stuttgart                                     
End of News    DGAP News-Service  
259115 24.03.2014                                                      
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