euro adhoc: Nordex AG
Financial Figures/Balance Sheet
Nordex: Preliminary
full-year figures for 2007
Total revenues up to EUR 800 million
EBIT more than doubled
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annual report
08.02.2008
Based on preliminary calculations, the Nordex Group (ISIN: DE000A0D6554) posted a 45% increase in full-year sales for fiscal 2007 to roughly EUR 747 million (previous year: EUR 514 million). Accordingly, it again grew more quickly than the market, which expanded by roughly 30%. Turbine assembly output rose by 37% to around 800 MW (previous year: 584 MW) in line with expectations, while rotor blade production surged by as much as 69% to 370 MW (previous year: 219 MW). This is also reflected in the increase in total revenues to EUR 800 million (2006: EUR 552 million).
Earnings before interest and taxes (EBIT) rose by around 140% to EUR 40 million (previous year: EUR 16.6 million). Accordingly, the return on sales widened from 3.2% to 5.4%. Cash and cash equivalents increased by 61% to EUR 213 million, with net cash inflow from operating activities coming to EUR 26 million. Despite the strong growth, Nordex improved the working capital ratio further to 2.1% (2006: 2.3%) as of the balance sheet date.
The growing demand for multi-megawatt turbines in the global market is also mirrored in Nordex´s new business. Order receipts in fiscal 2007 climbed by 60% to around EUR 1.2 billion (previous year: EUR 767 million), with roughly 94% of new orders coming from outside Germany. All in all, order books rose by 140% to EUR 2.9 billion (2006: EUR 1.2 billion) and comprise firm orders of EUR 1.0 billion (2006: EUR 513 million) and conditional orders of EUR 1.9 billion (2006: EUR 674 million). This is sufficient to ensure that Nordex can meet its revenue targets in full in both 2008 and 2009.
In the medium term, management projects top-line growth of an average of 50% per year. Profitability is to continue improving primarily by harnessing economies of scale. The Management Board will be releasing the full annual report as well as detailed guidance for the current fiscal year upon the completion of the financial statements.
end of announcement euro adhoc --------------------------------------------------------------------------------
Further inquiry note:
Nordex AG
Ralf Peters
Telephone: +49 40 / 500 98 - 100, Telefax: - 333
Branche: Alternative energy
ISIN: DE000A0D6554
WKN: A0D655
Index: Midcap Market Index, TecDAX, CDAX, HDAX, Prime All Share,
Technologie All Share
Börsen: Börse Frankfurt / regulated dealing/prime standard
Börse Berlin / free trade
Börse Stuttgart / free trade
Börse Düsseldorf / free trade
Börse München / free trade
Original-Content von: Nordex SE, übermittelt durch news aktuell