All Stories
Follow
Subscribe to Nordex SE

Nordex SE

euro adhoc: Nordex AG
quarterly or semiannual financial statement
Nordex with a triple-digit increase in profits and sales Sales up 113% to EUR 373 million
EBIT of EUR 12.1 million

  Disclosure announcement transmitted by euro adhoc. The issuer is responsible
  for the content of this announcement.
23.11.2006
In the first nine months of the current fiscal year, the Nordex Group
(ISIN: DE000A0D6554) generated a 113 percent increase in sales to EUR
373 million (previous year: EUR 175 million). This performance was
particularly underpinned by the sharp growth in export business, with
roughly 75 percent of sales generated in Europe excluding Germany as
well as Asia (previous year: 52%). This was accompanied by similar
growth in order receipts. The portfolio of firm and conditional
orders is valued at EUR 763 million. New business widened by 84
percent to EUR 515 million (previous year: EUR 280 million).
Earnings before interest and tax (EBIT) rose by 200% to EUR 12.1
million (previous year: loss of EUR 12.3 million). In the third
quarter, the EBIT margin stood at 3.4%. This improvement in earnings
is primarily due to full capacity utilization. This year, Nordex has
widened its turbine output by around 155 percent to 426 MW (previous
year: 167 MW). Net income for the period rose to roughly EUR 6.4
million (previous year: loss of EUR 14.6 million).
As of the balance sheet date, the equity ratio stood at 37 percent,
up from 27 percent, with cash and cash equivalents rising by  EUR
88.5 million to EUR 108 million. This was materially due to the
equity issue completed in May, high advance payments received from
customers for current projects and reservation fees for future
projects. The ratio of advance payments received (including
reservation fees) expanded from 97 percent to around 112 percent.
This had a positive effect on the working capital ratio as well as
operating cash flow. The working capital ratio before reservation
fees contracted to 12.5 percent as of September 30, 2006 (December
31, 2005: 14.5%). Cash flow from operating activities climbed to EUR
28.5 million (December 31, 2005: outflow of EUR 24.9 million).
As of the balance sheet date, the Group is well on track to meeting
its full-year target of sales of more than EUR 500 million and an
EBIT margin of over 3 percent. Turning to fiscal 2007, the Management
Board is still aiming for operative growth of around 50 percent and
an improvement in profitability.
Nordex will be providing detailed guidance for next year during a
telephone conference in December. The Management Board will be
presenting details of the Group's business performance on November
28, 2006 at Deutsche Börse's Eigenkapitalforum in Frankfurt.
end of announcement                               euro adhoc 23.11.2006 07:55:14

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 of: Nordex SE, transmitted by news aktuell

More stories: Nordex SE
More stories: Nordex SE
  • 22.11.2006 – 15:13

    Chinese production of Nordex multi-megawatt turbines commenced

    First multi-megawatt turbines leaving the assembly line in Ningxia ots.CorporateNews transmitted by euro adhoc. The issuer is responsible for the content of this announcement. Norderstedt (euro adhoc) - Barely one year after the signing of the joint venture agreement between the Nordex Group and its Chinese partners (Ningxia Electric Power Group and Ningxia Tianjing Electric Energy Development Group), the first ...

  • 06.11.2006 – 08:32

    Nordex awarded contracts worth over EUR 69 million in France

    28 turbines with an output of approx. 70 MW to be constructed in seven wind farms ots.CorporateNews transmitted by euro adhoc. The issuer is responsible for the content of this announcement. Hamburg, November 6, 2006 - Nordex AG has been awarded three project contracts for the turnkey construction of seven wind farms comprising a total of 28 N90 turbines in France. The combined value of the contracts for Nordex ...

  • 25.10.2006 – 08:27

    Nordex awarded another major contract in Scotland

    Contract for 40 MW wind farm worth approximately EUR 50 million ots.CorporateNews transmitted by euro adhoc. The issuer is responsible for the content of this announcement. Hamburg, October 25, 2006. Nordex AG has received another major contract in Scotland. It will construct the "Millennium" wind farm on a turn-key basis for approximately EUR 50 million. The wind farm will comprise a total of 16 Nordex N90/2500 ...