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Nordex SE

Nordex substantially more profitable in the first half of 2007

Norderstedt (euro adhoc) -

Sales increased to EUR 323 million / EBIT up double to EUR 15.3 
million.
  ots.CorporateNews transmitted by euro adhoc. The issuer is responsible for
  the content of this announcement.
finances/Interim Report
In the first half of 2007, the Nordex
Group's revenues increased by 28 percent to EUR 323 million (previous
year: EUR 252 million) thus living up to expectations. Non-German 
business accounted for roughly 82 percent of wind turbine revenues.  
New business grew at an even greater pace, with order intake rising 
by 71 percent to EUR 683 million (previous year: EUR 400 million). As
a result, fixed and conditional orders climbed in value by 95 percent
to EUR 1.7 billion (previous year: EUR 880 million). Further 
contracts have been signed of roughly EUR 470 million. All told, this
is sufficient to ensure full capacity utilization until into 2009.
Earnings before interest and taxes (EBIT) doubled to EUR 15.3 million
in the period under review (previous year: EUR 7.6 million). 
Accordingly, the return on sales widened from 3.0 percent to 4.7 
percent, coming to 5.7 percent in the second quarter. This favorable 
performance was chiefly due to the execution of more profitable 
projects. This is also reflected in the cost of materials ratio, 
which dropped to 79 percent (previous year: 81 percent). Net income 
for the period surged by 268 percent to EUR 13.6 million (previous 
year: EUR 3.7 million), spurred by an improvement in net financial 
result thanks to interest income earned on existing bank balances 
(June 30, 2007: EUR 85 million). At the same time, the tax rate 
declined to 7.7 percent.
"With this favorable performance, we are proving once again that 
Nordex is able to harness the opportunities arising in the wind power
market to grow profitably on a sustained basis. We are confident of 
achieving our targets for the year as a whole and beyond," says 
Thomas Richterich, CEO of Nordex AG.
Including the net income for the period, the equity ratio has widened
again to 38 percent (previous year: 32 percent). Growth in operating 
business as well as difficult conditions in the sourcing market have 
necessitated greater capital commitments. Thus, inventories rose by 
17 percent to EUR 165 million. Despite the drop in the advance 
payment ratio to 116 percent, the working capital ratio stood at 9.8 
percent, i.e. at the lower end of the target corridor.
Turning to the second half of the year, further growth in business 
volumes is expected. Nordex continues to project full-year revenues 
of EUR 760-770 million for 2007 (previous year: EUR 514 million). The
EBIT margin is expected to come to around 6 percent (previous year: 
3.0 percent).
end of announcement                               euro adhoc 23.08.2007 06:51:49

Further inquiry note:

Ralf Peters
Head of Corporate Communication
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, TecDAX, HDAX,
Midcap Market Index
Börsen: Börse Frankfurt / regulated dealing/prime standard
Börse Berlin / free trade
Börse Stuttgart / free trade
Börse Düsseldorf / free trade
Börse München / free trade

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