euro adhoc: Nordex AG
Earnings Forecast
Nordex updates 2008 EBIT forecast to
plus 50%
Revenue projection unchanged at EUR 1.1 billion
Start-up costs in new markets weigh on 2008
Higher expenditure planned for setting up structures overseas
-------------------------------------------------------------------------------- Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement. --------------------------------------------------------------------------------
Company Information
09.07.2008
On the basis of the monthly financial statements for fiscal 2008 the Nordex Group (ISIN: DE000A0D6554) is updating its projections for the current financial year. According to these, the Group is remaining with its revenue target of EUR 1.1 billion for the year as a whole (previous year: EUR 747 million), which equates to an increase of 47%. Earnings before interest and tax (EBIT) are to increase by at least 50% to between EUR 60 million and EUR 66 million (previous year: EUR 40 million). For return on sales this means an increase to between 5.5 and 6.0% (previous year: 5.4%) Nordex had originally projected a return of 7.0% for 2008.
The principal cause for the new forecast is to be found in start-up costs for setting up international structures. For instance, the company expects higher expenditure than initially calculated for handling the large volume of wind farm projects planned in the United Kingdom and Italy in the second quarter. Furthermore, the Group plans to invest more heavily in setting up the structures of its subsidiaries overseas.
The Supervisory Board has now reorganised responsibilities within the Management Board. Production is the responsibility of the Chief Executive Officer (CEO) while the Board member for Sales and Marketing is now in charge of project management.
According to provisional information, revenues increased further in the second quarter compared to the starting period. Profitability will probably stand at the level of the first quarter of 2008.
In his telephone conference today (at 12:00 CET) the CEO will explain the new guidance and be available for questions.
end of announcement euro adhoc --------------------------------------------------------------------------------
Further inquiry note:
Ralf Peters
Head of Corporate Communication
Tel.: +49 (0)40 50098 522
rpeters@nordex-online.com
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