Underpinned by a significant increase in production and installation figures, Nordex SE (ISIN: DE000A0D6554) entered 2016 with strong top-line growth. Sales rose by 28.3% to EUR 637.0 million (Q1 2015: EUR 496.5 million).

However, the other financial performance indicators rose substantially more quickly. Thanks to a gross margin of 25.1% (Q1 2015: 22.0%), profitability measured in terms of EBITDA rose by just under 57% to EUR 59.1 million (Q1 2015: EUR 37.7 million). As a result, the EBITDA margin widened by 1.7 percentage points to 9.3% (Q1 2015: 7.6%). The EBIT margin came to 7.1% (Q1 2015: 5.0%).

Consolidated net profit climbed by over 72% to EUR 25.5 million (Q1 2015: EUR 14.8 million), translating into earnings per share of EUR 0.31 (Q1 2015: EUR 0.18).

At 0.7%, the working capital ratio was up on the previous year (Q1 2015: -4.8%) but still well below the target of < 5%. The equity ratio came to 31.2% and was thus unchanged over the previous year.

"We entered the year on a dynamic note and are now commencing the integration phase with Acciona Windpower on a solid footing," said Chief Financial Officer Bernard Schäferbarthold.

The first consolidated report including the activities of Spanish subsidiary Acciona Windpower, which merged with the Nordex Group in April 2016, will be published on 28 July 2016.

Selected performance indicators at a glance

Indicator   Q1 2016   Q1 2015   Change
Sales in EUR million 637.0 496.5 28.3%

Firm order intake (EUR million)

541.0 644.1 -16.0%
EBITDA margin (%) 9.3 7.6 +1.7 pp
EBIT margin (%) 7.1 5.0 + 2.1 pp

Consolidated net profit (EUR million)

25.5 14.8 +72.3%

Earnings per share (EUR)*

0.31 0.18 +72.2%

Working capital ratio (%)

0.7 -4.8 + 5.5 pp
Equity ratio (%) 31.2 31.2 Unchanged 
    * based on 80.9 million shares

The information reproduced in this press release has not been audited or undergone any limited review.

About Nordex

The Nordex Group

The Group has installed wind power capacity of more than 18 GW in over 25 markets. In 2015, Nordex and Acciona Windpower recorded combined sales of EUR 3.4 billion. The Company currently has over 4,800 employees. The production network comprises plants in Germany, Spain, Brazil, the United States and soon also India. The product range primarily concentrates on onshore turbines in the 1.5 - 3MW class addressing the requirements of developed as well as emerging markets.

Language:   English
Company: Nordex SE
Erich-Schlesinger-Straße 50
18059 Rostock
Germany
Phone: +49 381 6663 3300
Fax: +49 381 6663 3339
E-mail:

info@nordex-online.com

Internet:

www.nordex-online.com

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