DGAP-News: Nordex SE / Key word(s): Annual Results/Forecast
26.03.2019 / 07:00
Nordex Group expects considerable sales growth in 2019
Hamburg, 26 March 2019. The Nordex Group (ISIN: DE000A0D6554) began the new year with a well-filled order book and thus expects considerable sales growth, according to the 2019 guidance announced today. The order book for new wind turbines (Projects segment) totaled EUR 3.9 billion at the end of 2018 (31 December 2017: EUR 1.7 billion). With the annual financial statements presented today, the company also confirms the preliminary results published in February.
Guidance for 2019
The company will aim to keep working capital, which depends on order intake and activity levels, as low as possible. At the end of the year, the working capital ratio is expected to be below two percent relative to consolidated sales. Capital expenditures – particularly in optimizing the supply chain, expanding global production, and product development – are estimated to reach EUR 120 million. The final amount will ultimately depend on the momentum of incoming orders over the course of the year.
2018 ends with positive free cash flow
Chief Financial Officer (CFO) Christoph Burkhard commented: « Efficient working capital management enabled us to significantly reduce our working capital and generate considerable positive free cash flow in 2018. This topic is also high on our agenda for 2019. »
The Nordex Group’s balance sheet structure remains solid. The equity ratio stand at 22.8 percent as at the reporting date (31 December 2017: 32.7 percent). This decrease is primarily due to a purely technical effect arising from the first-time application of the new IFRS 15 financial reporting standard. At the end of the year, the Nordex Group had cash and cash equivalents totaling EUR 609.8 million, which is almost at the prior-year level (31 December 2017: EUR 623.3 million). Net debt was reduced to EUR 32.5 million (31 December 2017: EUR 60.1 million).
Installations and service
New wind turbines in the 5MW class
« Based on the highly-flexible Delta4000 platform that is already in series production, we can develop other efficient wind turbines aimed at reducing the cost of energy to meet the wide range of requirements in the global markets in a short space of time. We will unveil the third turbine model of this platform and thus enter the 5MW segment as early as the start of April. Clean electricity will be even cheaper in the future, » said José Luis Blanco, Chief Executive Officer (CEO) of the Nordex Group.
Sustainability Report 2018 published
The Annual Report and the Sustainability Report are now available for download from the Investor Relations section of the company’s website (ir.www.nordex-online.com) under « Publications ». The Nordex Group will report its results for the first quarter of 2019 on 14 May 2019.
Nordex Group key financials
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