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Nordex SE

Nordex expands profitably

Norderstedt (euro adhoc) -

Revenues up 66% / EUR 16.6 million EBIT
  ots.CorporateNews transmitted by euro adhoc. The issuer is responsible for
  the content of this announcement.
balance/preliminary financial statement 2006
According to its preliminary financial
statements for fiscal 2006, the Nordex Group ((ISIN: DE000A0D6554) 
has increased its revenues by 66 per cent to EUR 514 million 
(previous year: EUR 309 million). Total revenues rose by as much as 
73 per cent to EUR 552 million (previous year: EUR 319 million). This
makes it the second year in succession that the Company has grown 
faster than the market. Global sales of wind turbines grew by "mere" 
33 per cent over the same period. The trend in new business was even 
stronger for the Nordex Group. Order receipts in fiscal 2006 doubled 
to EUR 767 million (previous year: EUR 395 million). This performance
was influenced primarily by the strong demand from abroad. The 
proportion accounted for by foreign revenues rose from 62 to 86 per 
cent. The backlog of firm and conditional orders increased to around 
EUR 1.2 billion on the balance sheet date, meaning that new orders 
provide work for 15 months.
Operating profit (EBIT) improved considerably to EUR 16.6 million 
(previous year: EUR - 5.3 million). With ROS of 3.2 per cent, Nordex 
was well on target to meet projections. The main reason for the 
improvement in earnings was higher capacity utilisation. Net income 
rose to EUR 12.6 million (previous year: EUR -8.2 million). The 
balance-sheet structure has again improved. The equity ratio 
increased to 32 per cent as at 31 December 2006 (31 Dec. 2005: 27%) 
and liquidity improved from EUR 19.5 to EUR 132 million as at the 
balance sheet date. This was attributable principally to the increase
in capital in May 2006 and the high down-payments received. The 
working capital ratio contracted to 2.8 per cent (31 Dec. 2005: 
14.5%) among others influenced by reservation fees for future 
projects of around EUR 45 million.
This year Nordex plans to increase revenues by around 50 per cent to 
more than EUR 750 million. At the same time the operating result 
(EBIT) is due to treble to around EUR 50 million. This effect on 
earnings was caused by the completion of projects with higher 
contributions to profits and a further improvement in capacity 
utilisation. This year Nordex intends to increase its German 
production capacity to around 1,000 MW full-year capacity in order to
be able to realise one billion euros in revenues and a further 
increase in earnings in fiscal 2008. In addition to this, higher 
capital spending on the development of new products is planned. This 
relates above all to the extension of the N80/N90 multi-megawatt 
series, which is one of the best-selling turbines in its class.
end of announcement                               euro adhoc 20.03.2007 08:21:08

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

Original-Content von: Nordex SE, übermittelt durch news aktuell

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