DGAP-News: Nordex SE / Key word(s): Incoming Orders
11.01.2017 / 15:11
Increase in Nordex Group’s order intake to over EUR 3.3 billion in 2016
Hamburg, 11 January 2016. The order intake of the Nordex Group (ISIN DE000A0D6554) grew by 33.6% to EUR 3.30 billion in 2016 (2015: EUR 2.47 billion). The geographical distribution of 2016 orders mirrored the intended broadening of Nordex’ market footprint following the acquisition of Acciona Windpower effective 1 April 2016.
Consequently, the share of South and North American orders increased to 34% of the total 2016 order intake (2015: 10%). Orders from South American countries amounted to EUR 560 million, and the United States (US) contributed EUR 550 million of new orders. US volumes included EUR 170 million of « safe harbor » transactions with which Nordex secured tax incentives for its customers for wind farm construction in subsequent years. « Safe harbor » orders are expected to eventually result in additional orders that will exceed the originally contracted volume by a significant multiple.
Europe and Africa contributed 65% of total order volume (2015: 90%). Nordex cemented its strong position at home with new orders of more than EUR 1.17 billion in Germany (2015: EUR 915 million).
The achieved order intake for 2016 fell just under three percent short of the company’s full-year target following the postponement of a major order in South America.
Due to the strong year-end cash position Nordex will meet its working capital ratio target for 2016 of below 5 percent. The exact working capital ratio as well as other financial information will be released, when Nordex announces preliminary financial results for 2016 at the end of February.
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