Nordex raises full-year guidance for 2013 following a strong first half

Nordex SE / Key word(s): Half Year Results/Half Year Results15.08.2013 / 07:42---------------------------------------------------------------------* Sales up 57% to EUR 661 million * Increase in EBIT to EUR 15 million* Consolidated net profit achieved* Working capital ratio cut to 9.5%* Increase in firm order backlog to EUR 1.3 billionHamburg, 15 August 2013. The Nordex Group (ISIN: DE000A0D6554) posted a 57%increase in sales to around EUR 661 million in the first half of 2013(H1/2012: EUR 421 million). This positive trend reflects growing businessin Europe, where Nordex generated 93% (H1/2012: 80%) of its sales. At thesame time, the proportion of business from America and Asia taken togetherdeclined. This good operating performance is also attributable to thesubstantially greater production output and turbine installation. Thus,production of turbines rose 93% to 657.2 megawatts (MW), while the capacityof newly installed turbines doubled almost to 560.8 MW.Earnings before interest and taxes (EBIT) improved significantly to EUR 15million (H1/2012: loss of EUR 13.1 million at the EBIT level), materiallyunderpinned by increased productivity, the successful marketing of newturbines and technical solutions and various cost-cutting efforts. Theseincluded, for example, a further reduction in product costs ('CORE 15') andmeasures to reduce structural expenses. In this connection, Nordex decidedin the second quarter of 2013 to discontinue production at its plants inthe United States and China on account of their low capacity utilisation.The associated costs had already been included in the exceptional expenseplaced on the books in 2012. After tax, Nordex earned net consolidatedprofit of EUR 1.3 million in this period (H1/2012: net loss of EUR 23.3million).With a slight increase in the equity ratio to 28.4% as of 30 June 2013, theGroup continues to have a stable balance sheet. Cash and cash equivalentsamounted to EUR 174.7 million, with net debt amounted to a low EUR 18million. At the same time, Nordex reduced its working capital ratio to 9.5%(H1/2012: 21.4%) thanks to strict cash management.Nordex's new business is continuing to grow at a considerable pace, withorder intake up a further 61% to EUR 839.4 million (H1/2012: 521.8million), thus reaching a new record. The group achieved substantialsuccess in its core EMEA region, which accounted for 86% of new business.As a result, firm order backlog has risen of EUR 1.3 billion. In addition,the group has con-ditional orders on its books worth over EUR 1.0 billion.On the strength of the favourable business performance in the year to date,Nordex SE's Management Board has raised its forecast for the rest of theyear and is now looking for full-year sales and order intake of EUR 1.3 -1.4 billion in 2013 (previously: EUR 1.2 - 1.3 billion). The EBIT margintarget has been adjusted upwards to 2.5 - 3.5% (previously: 2.0 - 3.0%) andthe target corridor for the working capital ratio now stands at 10 - 15%(previously: 15%).'The Management Board is very satisfied with Nordex's current businessper-formance. The strong demand for our turbines and our heightenedproductivity are showing that we are headed in the right direction with ourstrategy. We are now even more confident about the immediate future,' saysNordex CEO Jürgen Zeschky.End of Corporate News---------------------------------------------------------------------15.08.2013 Dissemination of a Corporate News, transmitted by DGAP - acompany of EQS Group AG.The issuer is solely responsible for the content of this announcement.DGAP's Distribution Services include Regulatory Announcements,Financial/Corporate News and Press Releases.Media archive at and    English                                                Company:     Nordex SE                                                           Langenhorner Chaussee 600                                           22419 Hamburg                                                       Germany                                                Phone:       040 / 30030 1000                                       Fax:         040 / 30030 1101                                       E-mail:                                 Internet:                                  ISIN:        DE000A0D6554                                           WKN:         A0D655                                                 Indices:     TecDAX                                                 Listed:      Regulierter Markt in Frankfurt (Prime Standard);                    Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover,               München, Stuttgart                                       End of News    DGAP News-Service  ---------------------------------------------------------------------  226034 15.08.2013