Nordex SE raises 2014 guidance after strong first quarter

Nordex SE  / Key word(s): Quarter Results/Change in Forecast14.05.2014 08:05Dissemination of an Ad hoc announcement according to § 15 WpHG, transmittedby DGAP - a company of EQS Group AG.The issuer is solely responsible for the content of this announcement.---------------------------------------------------------------------------* 64 percent surge in sales to EUR 424.5 million* Rise in EBIT to EUR 21.1 million* Free cash flow of EUR 14.8 million generated* 71 percent increase in order intake to EUR 562 million* Board raised full-year guidance after strong first quarter Hamburg, 14 May 2014. Given the better-than-expected business performanceof Nordex SE (ISIN: DE000A0D6554) in the first quarter of 2014, thecompany's Management Board has now raised its full-year sales and EBITguidance.The Nordex Group recorded further double digit growth in the first quarterof the current year. Sales increased by 64 percent to a record EUR 424.5million (Q1/2013: EUR 259.0 million). At 71 percent, the EMEA region(Europe and Africa) accounted for the bulk of business. However, sales inthe Americas and Asia developed exceptionally well, rising to EUR 124.1million (Q1/2013: EUR 14.5 million). Nordex's service business also climbedto EUR 34.3 million in the first quarter (Q1/2013: EUR 30.8 million).Consolidated operating earnings rose to EUR 21.1 million (Q1/2013: negativeoperating earnings of EUR 0.7 million), due in particular to cost-cuttingmeasures and improved capacity utilisation. A further contributing factorwas the execution of more profitable orders. This is also reflected in thehigher gross margin of 24.0 percent (Q1/2013: 21.3%). Consolidated netprofit amounted to EUR 9.1 million (Q1/2013: consolidated net loss of EUR8.4 million).The Nordex Group's balance sheet was even stronger as of 31 March 2014 withan equity ratio of 32.0 percent (31 December 2013: 30.9%) and an increaseof EUR 11.7 million to EUR 344.7 million (31 December 2013: EUR 333.0million) in cash and cash equivalents. As a result, net liquidity rose toEUR 151.7 million thanks to high prepayments and substantially improvedcash management. The working capital ratio reached a level of only 1.0% (31December 2013: 2.2%). In the first quarter, Nordex generated free cash flowof EUR 14.8 million (Q1/2013: negative free cash flow of EUR 77.3 million).Order intake rose by 71 percent to EUR 562 million (Q1/2013: EUR 328million) in the first quarter, driven by successful marketing in Europe.What is more, the customer response to Nordex's recent product releasesremained positive. This applies to the N117/2400, which remains thetop-selling turbine, accounting for 34 percent of sales. The GenerationDelta, which was launched last year, contributed 22 percent of orders. Thepositive book-to-bill ratio of 1.32 reflects a further increase in firmlyfinanced orders of EUR 1.4 billion (Q1/2013: EUR 1.1 billion).  With business performance so far exceeding expectations and given theimproved forward visibility over the next few quarters, Nordex SE'sManagement Board has raised its full-year guidance for 2014. Accordingly,the Board is now looking for sales of EUR 1.5 - 1.6 billion (previousguidance EUR 1.4 - 1.5 billion). The EBIT margin is expected to reach 4.0 -5.0 percent (previous guidance 3.5 - 4.5 percent). In addition, Nordex willannounce its medium-term forecasts in the next few months.For more information, please contact:Nordex SERalf PetersTelephone + 49 40 300 30 - 1000Mobile: +49 (0)173 523 97 19rpeters@nordex-online.com14.05.2014 DGAP's Distribution Services include Regulatory Announcements,Financial/Corporate News and Press Releases.Media archive at and Language:     EnglishCompany:      Nordex SE              Erich-Schlesinger-Straße 50              18059 Rostock              GermanyPhone:        +49 381 6663 3300Fax:          +49 381 6663 3339E-mail:       info@nordex-online.comInternet:     www.nordex-online.comISIN:         DE000A0D6554WKN:          A0D655Indices:      TecDAXListed:       Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr              in Berlin, Düsseldorf, Hamburg, Hannover, München, Stuttgart End of Announcement                             DGAP News-Service ---------------------------------------------------------------------------