DGAP-News

Nordex SE: Nordex Group closes first half of 2022 in line with expectations

DGAP-News: Nordex SE / Key word(s): Half Year Report/Half Year Results Nordex SE: Nordex Group closes first half of 2022 in line with expectations 14.08.2022 / 18:00 CET/CEST The issuer is solely responsible for the content of this announcement. Nordex Group closes first half of 2022 in line with expectations

• Sales amount to around EUR 2.1 billion
• Adjusted EBITDA margin stood at minus 6.8 percent
• Order intake up 7.9 percent to 3.0 GW
• Installations reach 1.9 gigawatts
• Capital structure strengthened successfully with EUR 637 million financing transactions in late July
• Guidance for 2022 and mid-term strategic target of 8 percent EBITDA margin confirmed

Hamburg, 14 August 2022. The Nordex Group (ISIN:DE000A0D6554) today announced that its business performance in the first six months of 2022 was in line with expectations, with sales decreasing to EUR 2.1 billion as a result of fewer installations (H1 2021: EUR 2.7 billion). Gross revenue, which also includes changes in inventories, fell by 4.5 percent to EUR 2.2 billion (H1 2021: EUR 2.3 billion). The decline in the second quarter was mainly driven by low installation figures outside Europe and Latin America. The indirect effects of the pandemic and the war in Ukraine also remained clearly visible in the operating results as reflected by the upheaval in the energy, raw materials and logistics markets. In this environment, EBITDA came to minus EUR 173.3 million (H1 2021: EUR 68.4 million). This corresponds to an EBITDA margin of minus 8.1 percent (H1 2021: 2.5 percent). Adjusted for the costs for footprint reconfiguration, the EBITDA stood at minus 143.7 million with minus 6.8 percent EBITDA margin.

Operating performance

The Nordex Group increased its order intake in the Projects segment (i.e. excluding services) by 7.9 percent to 3.0 GW in the first six months of 2022 (H1 2021: 2.8 GW), which corresponds to new orders worth EUR 2,357 million after EUR 1,962 million in the previous year. Of this order intake (in MW), 70 percent was attributable to Europe, 23 percent to Latin America and 7 percent to North America. At the end of the first half of the year, the Nordex Group’s order book increased considerably by 26 percent to stand at EUR 9.7 billion (H1 2021: EUR 7.7 billion), consisting of EUR 6.7 billion (H1 2021: EUR 4.8 billion) in the Projects segment and EUR 3.1 billion (H1 2021: EUR 2.9 billion) in the Service segment.