Nordex with further top-line growth and strong order intake

DGAP-News: Nordex SE / Key word(s): Preliminary Results/Development of Sales2016-02-26 / 07:49The issuer is solely responsible for the content of this announcement.---------------------------------------------------------------------------* 40% increase in sales to EUR 2,430 million* EBIT up more than 60% to EUR 126.2 million* Increase in free cash flow to EUR 94.6 million* Larger order backlog providing the basis for further growthHamburg, 26 February 2016. On the basis of its preliminary unauditedfigures, the Nordex Group (ISIN: DE000A0D6554) increased its sales by some40 percent in 2015 to EUR 2,430.1 million (2014: EUR 1,734.5 million).Accordingly, it slightly exceeded the upper end of the sales guidance whichthe Management Board had revised most recently in November 2015.The operating margin before interest widened by 0.7 percentage points from4.5 percent to 5.2 percent. At EUR 126.2 million, EBIT exceeded theprevious year's figure (2014: EUR 78.0 million) by more than 60 percent.Despite the unplanned additional expense on a number of externally sourcedrotor blades from a supplier, earnings matched the Management Board'sexpectations.The main underpinnings for the strong business performance came fromNordex's success in its core EMEA (Europe and Africa) region, where itgenerated 88 percent (2014: 87 percent) of its sales, i.e. EUR 2,142.6million (2014: EUR 1,513.8 million). Nordex achieved sales of a further EUR286.1 million (2014: EUR 200.7 million) in the Americas.Turbine business contributed the main proportion of 91.3 percent of totalsales, with production output rising by 34 percent to 1,899 MW (2014: 1,417MW). At the same time, installation output climbed by just under 14 percentfrom 1,489 MW to 1,697 MW. All told, 657 turbines were installed in 14countries. In its core region of Europe, the company achieved a share ofjust under 13 percent of the onshore market, securing double-digit marketshare in more than ten countries.The significant growth in sales and heightened profitability wereaccompanied by a disproportionately small increase in structural costs.Personnel costs and net other operating expense rose by a combined rate ofaround 28 percent. Thus, sales per employee grew by just under 25% to EUR771,952 (2014: EUR 619,464).Free cash flow came to EUR 94.6 million and was thus up just under 7% overthe previous year (2014: EUR 88.7 million). At a negative 1.2 percent(2014: negative 2.3 percent), working capital exceeded expectations. TheNordex Group also continues to boast a very solid balance sheet with anequity ratio of 31.2 percent (31 December 2014: 31.9 percent) and netliquidity of EUR 294.4 million (31 December 2014: EUR 205.9 million).In addition, it was able to secure new higher credit facilities on goodterms in December 2015.Looking forward to the current year, the order books with firmly financedorders of EUR 1,668.9 million (2014: 1,462.0 million) provide a good basis.Last year, the company received turbine orders valued at EUR 2,470.9million (2014: 1,753.9 million). "The order books and our imminent mergerwith Acciona Windpower offer very solid foundations for further growth,continued favourable business performance and an additional improvement ofour good market position," says Lars Bondo Krogsgaard, CEO of Nordex SE.Nordex will be releasing its final annual financial statements as well asits guidance for 2016 at its annual press conference in Frankfurt/Main on21 March 2016. The Management Board will also be using this opportunity toreport on the current state of the transaction with Acciona Windpower.---------------------------------------------------------------------------2016-02-26 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   Language:    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; Terminbörse EUREX                                 End of News    DGAP News Service