Nordex Group: Successful EUR 200 million capital increase supports long-term growth path

Nordex Group: Successful EUR 200 million capital increase supports long-term growth path

• Around 10.7 million shares placed at EUR 18.90, gross issue proceeds of around EUR 200 million to support company growth path
• Acciona S.A. participates in capital increase
• Transaction significantly oversubscribed
   

Hamburg, 3 December 2020. On 1 December 2020, Nordex SE (ISIN DE000A0D6554) issued around 10.7 million new shares in an accelerated bookbuilding process excluding subscription rights. The capital increase was carried out by way of an international private placement exclusively with institutional investors and was significantly oversubscribed. The new shares were issued at a price of EUR 18.90, resulting in gross issue proceeds of approx. EUR 200 million. BNP Paribas, Paris, HSBC Trinkhaus & Burkhardt AG, Dusseldorf, and UniCredit AG, Munich, served as Joint Bookrunners of this capital increase.

The inflow of funds will further support Nordex Group’s growth path and strategic targets for 2022, strengthen its balance sheet and serve general corporate purposes. On the back of a continuously strong order book totalling EUR 7.9 billion as of 30 September 2020 (projects and service segments combined) the business is expected to enhance profitability going forward with an improving mix of changeover to the most recent product series with inherently better margins also driven by its continued supply chain transformation. The expansion of production capacities in India to four Gigawatts is central to further increasing competitiveness and bolstering the group’s leading global market position. This goes hand in hand with the further development of the supply chain for the highly competitive Delta4000-turbines which see consistently high demand and a good market positioning.

This successful transaction concludes the financial measures taken in 2020: After extending its guarantee lines for the projects business in April, the company secured in August a state-backed revolving credit facility of EUR 350 million helping to protect the company against the effects of the covid-19 pandemic on its operating business of which EUR 100 million have already been repaid. In this context, Nordex Group also made binding agreements for the refinancing of promissory notes due in April 2021. In addition, the sale of the European project development business to RWE for a gross amount of around EUR 400 million also had a positive effect. Thus, the Nordex Group has a strong financial structure in the medium term.

“We are very pleased about the support and the trust of our investors. This capital increase will provide significant additional support to our company as we expand our production capacities in India, for our global markets, in order to further increase competitiveness. At the same time, we strengthen our balance sheet, to pave the way for our profitable growth path and are well equipped for further development of the company,” says José Luis Blanco, CEO of the Nordex Group.
 

The Nordex Group – a profile
The Group has installed more than 30 GW of wind energy capacity in over 40 markets and in 2019 generated revenues of EUR 3.3 billion. The company currently employs a workforce of approx. 8,400. The joint manufacturing capacity includes factories in Germany, Spain, Brazil, the United States, India, Argentina and Mexico. The product portfolio is focused on onshore turbines in the 2.4 to 5.X MW class, which are tailor-made for the market requirements of countries with limited space and regions with limited grid capacity.

Contact for press inquiries:
Nordex SE
Felix Losada
Phone: +49 (0)40 / 300 30 – 1141
flosada@nordex-online.com

Contact for investor inquiries:
Nordex SE
Felix Zander
Phone: +49 (0)40 / 300 30 – 1116
fzander@nordex-online.com

Tobias Vossberg
Phone: +49 (0)40 / 300 30 – 2502
tvossberg@nordex-online.com

Rolf Becker
Phone: +49 (0)40 / 300 30 – 1892
rbecker@nordex-online.com