Nordex SE

EANS-News: Nordex returns to operating profit

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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

Further inquiry note:
Oliver Kayser
Investor Relations Manager
Tel.: +49 (0)40 30030-1024

end of announcement                               euro adhoc 

company:     Nordex SE
             Langenhorner Chaussee 600
             D-22419 Hamburg
phone:       +49 (0)40 30030-1000
FAX:         +49 (0)40 30030-1101
sector:      Alternative energy
ISIN:        DE000A0D6554, DE0000A0D66L2
indexes:     TecDAX, CDAX, HDAX, Prime All Share, Technology All Share, ÖkoDAX
stockmarkets: free trade: Berlin, München, Hamburg, Düsseldorf, Stuttgart,
             regulated dealing/prime standard: Frankfurt 
language:   English

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