Nordex continues on growth trajectory in the third quarter and raises sales forecast

DGAP-News: Nordex SE / Key word(s): 9-month figures2015-11-11 / 07:45---------------------------------------------------------------------* Sales up 41% to almost EUR 1.8 billion* 63% increase in EBIT to EUR 97.6 million* Order intake up 57% to just under EUR 2.0 billion* Sales target for 2015 raised to EUR 2.3 - 2.4 billionHamburg, 11 November 2015. In the third quarter of 2015, the Nordex Group(ISIN: DE000A0D6554) recorded strong growth in its business, with sales inthis period (1 July - 30 September 2015) climbing by more than 50% to EUR685.8 million (Q3/2014: EUR 451.2 million). Over the first nine months of2015, business rose by 41%, with a sales increase to EUR 1.786 billion(9M/2014: EUR 1.267 billion). This performance was particularly underpinnedby demand in Europe and South Africa, which accounted for a total of 88% ofsales. Nordex generated a further 12% of its business in the Americas. Thisgrowth is also reflected in production. Thus, turbine assembly output roseby around 43% to 1,539 MW (9M/2014: 1,076 MW).At the same time, the group's operating earnings improved, with earningsbefore interest and taxes (EBIT) rising by just under 63% to EUR 97.6million in the first nine months of 2015 (9M/2014: EUR 59.9 million). Inthe third quarter of 2015, EBIT climbed to EUR 36.1 million (Q3/2014: EUR22.8 million). Earnings were spurred by economies of scale, with structuralcosts rising less quickly than sales and the relevant ratio shrinking from14.8% to 13.7%. Consolidated net profit increased by 62% to EUR 45.4million in the period under review (9M/2014: EUR 28.0 million) also due toa substantial EUR 2.6 million improvement in net finance expense.The group's solid balance sheet structure formed an important basis forgrowth. Thus, liquidity increased by 17% to EUR 454.4 million (31 December2014: EUR 388.4 million). With total assets up 19% to EUR 1,478.9 million,Nordex has a equity ratio of 30.3%. The working capital ratio climbed to1.0% (31 December 2014: -2.3%) as a result of preparations for numerouscontracts to be executed in the short term. This still low level was fullyin line with budget. As well as this, the group generated positive freecash flow of EUR 18.5 million (9M/2014: EUR 119.8 million).Order intake rose by 57% to EUR 1,964.0 million in the period under review(9M/2014: EUR 1,253.2). Consequently, orders on hand climbed by 32% to justunder EUR 1.8 billion as of 30 September 2015 and provide the underpinningsfor the expected growth in the first half of 2016.On the strength of the company's strong business performance in the pastthree quarters and the large volume of orders on hand, the Management Boardis raising its sales targets for the current year to EUR 2.3 - 2.4 billion(previously EUR 1.9 - 2.1 billion). As Nordex additionally assumes that newbusiness will remain strong in the fourth quarter, it is also lifting itsorder intake target to EUR 2.3 - 2.4 billion (previously: EUR 2.1 - 2.3billion). In addition, the operating margin is still expected to increaseto 5.0 - 6.0%."We are currently growing more quickly than the wind power industry as awhole. This is due to our focus on the right markets, products andservices. To ensure that we remain on this course of expansion in the longterm, we have now decided to substantially strengthen our business bycombining our activities with those of Acciona Windpower," says Nordex CEOLars Bondo Krogsgaard. Nordex will report on its medium-term outlook andstrategic orientation at a capital markets day taking place tomorrow inFrankfurt. The business combination is subject to clearance by thecompetition authorities.---------------------------------------------------------------------2015-11-11 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  ---------------------------------------------------------------------  411471 2015-11-11