Nordex continuing to expand with targets for 2015 revised upwards

DGAP-News: Nordex SE / Key word(s): Half Year Results/Change inForecast2015-07-30 / 07:31---------------------------------------------------------------------* Sales up 35% to EUR 1.1 billion* 66% increase in EBIT to EUR 61.5 million* Order intake up 49% to over EUR 1.3 billion* Sales target for 2015 raised to EUR 2.0 - 2.2 billionHamburg, 30 July 2015. In the second quarter of 2015, the Nordex Group(ISIN: DE000A0D6554) achieved further strong momentum in its business, withsales climbing by more than 54% to EUR 603.8 million in this period(Q2/2014: EUR 390.9 million). Over the first half of 2015 as a whole, salesrose by 35% and sales came to EUR 1.1 billion during the period (H1/2014:EUR 815.4 million), particularly underpinned by strong demand in thecompany's core European region, which contributed 86% of total sales.Nordex generated a further 14% of its business in the Americas. This sharpgrowth is also reflected in production output. Thus, turbine assemblyoutput rose by around 75% to a record 1,013 MW (H1/2014: 579.1 MW).At the same time, the group's operating earnings improved significantly,with earnings before interest and taxes (EBIT) rising by 130% to EUR 36.7million in the second quarter (Q2/2014: EUR 15.9 million). In the firsthalf of 2015 as a whole, EBIT rose by 66% to EUR 61.5 million (H1/2014: EUR37.1 million). Earnings were materially boosted by economies of scale.Thus, structural costs rose more slowly than business volume, causing therelevant ratio to shrink from 14.8% to 13.5%.  Consolidated net profitclimbed by 123% to EUR 36.9 million in the first half of the year duepartly to a EUR 2.6 million improvement in net finance expense.The company's balance sheet remained solid and provided a key basis for itsgrowth trajectory. Thus, liquidity increased again by 11.5% to EUR 433.2million (31 December 2014: EUR 388.4 million). With total assets rising by13.5% to EUR 1,406.8 million, Nordex has a stable high equity ratio of30.8%. At -2.1% (31 December 2014: -2.3%), the working capital ratioremained at a good level and is fully in line with expectations. Inaddition, Nordex again generated positive free cash flow of EUR 41.9million (H1/2014: EUR 70.0 million).Order intake rose by 48.9% to EUR 1,353.5 million in the first half of theyear (H1/2014: EUR 908.9 million). Consequently, the order backlog climbedby 25.7% to just under EUR 1.8 billion and secures the growth expected in2015. In this connection it should be noted that the Management Board hasnow raised its guidance range for sales and now forecasts sales of EUR 2.0- 2.2 billion (previously EUR 1.9 - 2.1 billion). At the same time, theforecast for order intake has been revised upwards. Accordingly, newbusiness is expected to reach EUR 2.1 - 2.3 billion (previously: EUR 1.8 -2.0 billion). In addition, Nordex continues to expect the operating marginto widen to 5.0 - 6.0%."Nordex continues to grow strongly. At the same time, we are workingsystematically on improving our earnings. We are very optimistic for thecurrent year and expect sales growth to substantially exceed the forecastswhich we issued at the beginning of the year," said Lars Bondo Krogsgaard,CEO of Nordex SE.---------------------------------------------------------------------2015-07-30 Dissemination of a Corporate News, transmitted by DGAP - aservice of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements,Financial/Corporate News and Press Releases.Media archive at and    English                                                     Company:     Nordex SE                                                                Erich-Schlesinger-Straße 50                                              18059 Rostock                                                            Germany                                                     Phone:       +49 381 6663 3300                                           Fax:         +49 381 6663 3339                                           E-mail:                                      Internet:                                       ISIN:        DE000A0D6554                                                WKN:         A0D655                                                      Indices:     TecDAX                                                      Listed:      Regulated Market in Frankfurt (Prime Standard); Regulated                Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover,               Munich, Stuttgart                                             End of News    DGAP News-Service  ---------------------------------------------------------------------  382189 2015-07-30