Quarterly statement: Nordex SE with improved profitability and earnings

DGAP-News: Nordex SE / Key word(s): Quarterly / Interim Statement/Quarter Results

2016-05-23 / 07:55
The issuer is solely responsible for the content of this announcement.


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

Indicator Q1 2016 Q1 2015 Change
Sales in EUR million 637.0 496.5 28.3%
Firm order intake (EUR million) 541.0 644.1 -16.0%
EBITDA margin (%) 9.3 7.6 +1.7 pp
EBIT margin (%) 7.1 5.0 + 2.1 pp
Consolidated net profit (EUR million) 25.5 14.8 +72.3%
Earnings per share (EUR)* 0.31 0.18 +72.2%
Working capital ratio (%) 0.7 -4.8 + 5.5 pp
Equity ratio (%) 31.2 31.2 Unchanged

* based on 80.9 million shares

The information reproduced in this press release has not been audited or undergone any limited review.

About Nordex
The Nordex Group
The Group has installed wind power capacity of more than 18 GW in over 25 markets. In 2015, Nordex and Acciona Windpower recorded combined sales of EUR 3.4 billion. The Company currently has over 4,800 employees. The production network comprises plants in Germany, Spain, Brazil, the United States and soon also India. The product range primarily concentrates on onshore turbines in the 1.5 – 3MW class addressing the requirements of developed as well as emerging markets.

For more information, please contact:

Nordex SE
Ralf Peters / Oliver Kayser
Telephone + 49 40 300 30 – 1000

2016-05-23 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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