DGAP-News: Nordex SE / Key word(s): Incoming Orders
11.01.2017 / 15:11
Increase in Nordex Group’s order intake to over EUR 3.3 billion in 2016
Hamburg, 11 January 2016. The order intake of the Nordex Group (ISIN DE000A0D6554) grew by 33.6% to EUR 3.30 billion in 2016 (2015: EUR 2.47 billion). The geographical distribution of 2016 orders mirrored the intended broadening of Nordex’ market footprint following the acquisition of Acciona Windpower effective 1 April 2016.
Consequently, the share of South and North American orders increased to 34% of the total 2016 order intake (2015: 10%). Orders from South American countries amounted to EUR 560 million, and the United States (US) contributed EUR 550 million of new orders. US volumes included EUR 170 million of «safe harbor» transactions with which Nordex secured tax incentives for its customers for wind farm construction in subsequent years. «Safe harbor» orders are expected to eventually result in additional orders that will exceed the originally contracted volume by a significant multiple.
Europe and Africa contributed 65% of total order volume (2015: 90%). Nordex cemented its strong position at home with new orders of more than EUR 1.17 billion in Germany (2015: EUR 915 million).
The achieved order intake for 2016 fell just under three percent short of the company’s full-year target following the postponement of a major order in South America.
Due to the strong year-end cash position Nordex will meet its working capital ratio target for 2016 of below 5 percent. The exact working capital ratio as well as other financial information will be released, when Nordex announces preliminary financial results for 2016 at the end of February.
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