Nordex SE

euro adhoc: Nordex AG
quarterly or semiannual financial statement
Nordex makes a profitable start to fiscal 2006 Revenues up to EUR 125 mn
EBIT up to EUR 3.7 mn

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28.04.2006

According to preliminary calculations, the Nordex Group (ISIN: DE000A0D6554) increased revenues by more than 250% to some EUR 125 mn (Q1/2005: EUR 35 mn) in the first quarter of 2006. At the same time, order receipts rose to EUR 263 mn (Q1/2005: EUR 35 mn). More than 80% of new business comes from abroad. This means that the order backlog as at 31 March 2006 increased significantly year on year to EUR 387 (31 March 2005: EUR 139 mn). Moreover, the Group has signed contracts for further orders worth more than EUR 500 mn, sufficient to cover the period until the summer of 2007.

In the first quarter of 2006 Nordex successfully built on the earnings turnaround achieved in the summer of 2005, with earnings before interest and tax (EBIT) increasing to EUR 3.7 mn (Q1/2005: EUR - 7.1 mn). Periodic effects meant that costs for other operating expenditure and personnel decreased to an above-average extent, with the personnel cost ratio standing at 7.4% (Q1/2005: 22%). By contrast, the cost-of-materials ratio rose slightly compared to the preceding periods. This can be attributed to older projects that had been concluded with lower contributions to profits. This effect is to be offset for the year as a whole by the increasing price quality of newer orders. Net income for the period rose to EUR 2.6 mn (Q1/2005: EUR - 9.5 mn).

For this fiscal year Nordex expects a revenue increase of some 50% to EUR 460 mn (2005: EUR 309 mn) and an EBIT margin of 3.0%. The Company’s aim is to raise revenues in fiscal 2007 and 2008 to a comparable degree too, and to increase profitability on a sustainable basis. This will depend on a stable market trend with an increasing global demand for wind turbines.

Appendix:

in EUR millions  Q1/2006      Q1/2005      Change
Order receipts      263            35            651%
Order backlog        387          139            178%
Revenues                124.7         34.9         257%
EBIT                         3.7        - 7.1         152%
Profit/loss              2.6        - 9.5         127%

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ots Originaltext: Nordex AG
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:
Ralf Peters
Tel.: +49 (0)40 50098 522
rpeters@nordex-online.com

Branche: Alternative energy
ISIN:      DE000A0D6554
WKN:        A0D655
Index:    CDAX, Prime All Share, Technologie All Share
Börsen:  Frankfurter Wertpapierbörse / regulated dealing/prime
              standard
              Börse Berlin-Bremen / free trade
              Baden-Württembergische Wertpapierbörse / free trade
              Börse Düsseldorf / free trade
              Bayerische Börse / free trade



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