DGAP-News
Nordex raises earnings guidance following a strong first half - Seite 2
also used to repay a corporate bond (EUR 150 million). As a result of these
measures, Nordex had net debt of EUR 187.8 million as of 30 June 2016 (31
December 2015: net liquidity of EUR 322.0 million). Following the increase
in the guarantee facility to EUR 1.2 billion, Nordex has secured its
financing until 2020.
There was a negative impact on cash flow from operating activities from the
start of work on wind farms to be installed in the near future (incl. "safe
harbor" effects from USA). In addition, differing payment terms in
individual emerging markets led to an above-average increase in working
capital. However, this is to be reduced again in the future by means of
stringent cash management. The working capital ratio stood at 4.4% as of
the reporting date.
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In view of the strong improvement in operating profit, the Management Board
has raised its full-year earnings forecast for 2016 and now projects an
EBITDA margin of between 8.3% and 8.7% (previously: greater than 7.5%). At
the same time, a slight deterioration in project quality is expected in the
second half of the year due to increased sales in Brazil and India. Nordex
will execute its first major project in India end of 2016. At the same
time, the cost of integrating the two companies will result in increased
non-recurring expenses.
Sales are expected to increase to a total of EUR 3.35 - 3.45 billion in
fiscal year 2016. The upper end of this range is based on the assumption
that there will be no further project delays. In the first half of 2016,
Nordex achieved around 44% of its sales target and 40% of its order intake
target. Accordingly, new orders are expected to amount to over EUR 2.0
billion in the second half of the year. Nordex confirms its order intake
target of above 3.4 billion EUR.
"I am confident that we can continue to expand our new business and sales
in the second half of the year. There are already signs that new markets
and the United States will make a considerably greater contribution. The
sharp improvement in profitability, which is of central importance for us,
is particularly pleasing" says Lars Bondo Krogsgaard, Chief Executive
Officer of Nordex SE.
The Interim Report as of 30 June 2016 will be available for download in the
course of today on the website
http://www.nordex-online.com/en/investor-relations/publications.html.
The Nordex Group - a profile
The Group has installed more than 18 GW of wind energy in more than 25
markets. In 2015 Nordex and Acciona Windpower generated combined revenues
of EUR 3.4 billion. The company currently employs a workforce of around
5,000. The manufacturing group owns factories in Germany, Spain, Brazil and
the US, and in the near future will also operate one in India. The product
range focuses on onshore turbines in the 1.5 to 3 MW class, which are
designed for the market requirements in developed and emerging countries.
For more information, please contact:
Nordex SE
Ralf Peters
Telephone + 49 40 300 30 - 1522
rpeters@nordex-online.com
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28.07.2016 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de
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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, Tradegate Exchange; Terminbörse EUREX
End of News DGAP News Service
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486829 28.07.2016
has raised its full-year earnings forecast for 2016 and now projects an
EBITDA margin of between 8.3% and 8.7% (previously: greater than 7.5%). At
the same time, a slight deterioration in project quality is expected in the
second half of the year due to increased sales in Brazil and India. Nordex
will execute its first major project in India end of 2016. At the same
time, the cost of integrating the two companies will result in increased
non-recurring expenses.
Sales are expected to increase to a total of EUR 3.35 - 3.45 billion in
fiscal year 2016. The upper end of this range is based on the assumption
that there will be no further project delays. In the first half of 2016,
Nordex achieved around 44% of its sales target and 40% of its order intake
target. Accordingly, new orders are expected to amount to over EUR 2.0
billion in the second half of the year. Nordex confirms its order intake
target of above 3.4 billion EUR.
"I am confident that we can continue to expand our new business and sales
in the second half of the year. There are already signs that new markets
and the United States will make a considerably greater contribution. The
sharp improvement in profitability, which is of central importance for us,
is particularly pleasing" says Lars Bondo Krogsgaard, Chief Executive
Officer of Nordex SE.
The Interim Report as of 30 June 2016 will be available for download in the
course of today on the website
http://www.nordex-online.com/en/investor-relations/publications.html.
The Nordex Group - a profile
The Group has installed more than 18 GW of wind energy in more than 25
markets. In 2015 Nordex and Acciona Windpower generated combined revenues
of EUR 3.4 billion. The company currently employs a workforce of around
5,000. The manufacturing group owns factories in Germany, Spain, Brazil and
the US, and in the near future will also operate one in India. The product
range focuses on onshore turbines in the 1.5 to 3 MW class, which are
designed for the market requirements in developed and emerging countries.
For more information, please contact:
Nordex SE
Ralf Peters
Telephone + 49 40 300 30 - 1522
rpeters@nordex-online.com
---------------------------------------------------------------------------
28.07.2016 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de
---------------------------------------------------------------------------
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, Tradegate Exchange; Terminbörse EUREX
End of News DGAP News Service
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486829 28.07.2016
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