DGAP-News: Nordex SE / Key word(s): Quarterly / Interim Statement/Quarter Results
2016-05-23 / 07:55
Quarterly statement: Nordex SE with improved profitability and earnings
– Increase in gross margin to 25.1%
– EBITDA up by just under 57% to over EUR 59 million
– Consolidated net profit of EUR 25.5 million.
Hamburg, 23 May 2016. Underpinned by a significant increase in production and installation figures, Nordex SE (ISIN: DE000A0D6554) entered 2016 with strong top-line growth. Sales rose by 28.3% to EUR 637.0 million (Q1 2015: EUR 496.5 million).
However, the other financial performance indicators rose substantially more quickly. Thanks to a gross margin of 25.1% (Q1 2015: 22.0%), profitability measured in terms of EBITDA rose by just under 57% to EUR 59.1 million (Q1 2015: EUR 37.7 million). As a result, the EBITDA margin widened by 1.7 percentage points to 9.3% (Q1 2015: 7.6%). The EBIT margin came to 7.1% (Q1 2015: 5.0%).
Consolidated net profit climbed by over 72% to EUR 25.5 million (Q1 2015: EUR 14.8 million), translating into earnings per share of EUR 0.31 (Q1 2015: EUR 0.18).
At 0.7%, the working capital ratio was up on the previous year (Q1 2015: -4.8%) but still well below the target of <5%. The equity ratio came to 31.2% and was thus unchanged over the previous year.
«We entered the year on a dynamic note and are now commencing the integration phase with Acciona Windpower on a solid footing,» said Chief Financial Officer Bernard Schäferbarthold.
The first consolidated report including the activities of Spanish subsidiary Acciona Windpower, which merged with the Nordex Group in April 2016, will be published on 28 July 2016.
Selected performance indicators at a glance
* based on 80.9 million shares
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