EANS-News: Nordex aiming for further growth after a record year in 2008

- Rise in annual sales to EUR 1,136 (747) million

- 58% increase in EBIT to EUR 63 (40) million

- CEO Richterich: “90% of sales target for 2009 already secured”

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Norderstedt (euro adhoc) - Hamburg, April 21, 2009. With the
publication of its annual report for last year, the Nordex Group
(ISIN: DE000A0D6554) has confirmed that 2008 was another record year.
For the fourth year running, consolidated sales were up by more than
50%. With an increase of 52%, Nordex passed the one billion euro
threshold for the first time, achieving sales of EUR 1.136 billion.
"Not only did we reach our ambitious growth targets but have also
managed to appreciably close the gap between us and the market leader
year for year," says Thomas Richterich, CEO of Nordex AG.

The company was able to substantially extend its position in Europe
in particular, achieving double digit market share in various
countries such as the UK (27%), France and Italy (16% each) in line
with plans. In Europe as a whole, the company is one of the leading
players with 10% of all new installations. At the same time, Nordex
recorded high triple-digit top-line sales growth in the major US and
Chinese markets.

Thanks to the heightened profitability of the projects completed,
earnings before interest and taxes (EBIT) rose by 58% to EUR 63 (40)
million, thus achieved the forecast range (EUR 60 - 66 million). This
favorable performance was particularly underpinned by the second half
of the year, in which sales were stronger, resulting in a return on
sales of 7.0%. After capital spending of EUR 72.4 million, cash and
cash equivalents were valued at around EUR 112 million as of the
balance sheet date (December 31, 2008). Thanks to the strong
liquidity, net financial result improved to EUR 1.0 million.
Consolidated net profit came to around EUR 14.5 million after income
taxes of around EUR 50.0 million.

With a solid balance sheet structure and a continued good equity
ratio of around 38%, the volume of capital tied up increased. Thus,
inventories rose by around 60% to EUR 372 million in preparation of
new wind farm projects and planned extensions to the facility in
China. This year, inventories will drop back down again substantially
due to adjustments in line with requirements on the basis of the
current sales forecast.

The working capital ratio increased to 14.0% as very few reservation
fees were received for customer projects in the second half of the
year. However, Nordex is continuing to receive advance payments of
around 20% from its customers for firm delivery contracts. The
reduction in inventories will also help to keep the working capital
ratio steady at this normalized level.

Despite a likely flat overall market, Nordex´s Management Board still
expects to achieve further growth in 2009. Says Richterich: "Our
customers are showing unabated strong interest in new wind power
systems. However, they are increasingly facing the challenge of
having to obtain the necessary debt capital component, which is why
we expect some projects to be postponed until 2010. We have already
reached almost 90% of our growth target for this year (approx. EUR
1.2 billion) thanks to contracts for which firm finance has been
received." Although the overall volume for financing "green" power
stations is still under pressure, Nordex´s new business widened to
EUR 234 million in the first quarter of 2009.

Profitability will probably be weaker in 2009 than in the previous
year as no additional economies of scale will be harnessed for
growth-related reasons. Explains Richterich: "At the same time, we
are investing in new structures to ensure that we are able to
continue growing. However, we have postponed some capex projects to
avoid unnecessary strain." All told, Nordex plans to invest another
EUR 70 million this year. The company assumes that it will return to
a higher double-digit growth rate in the medium term and thus
confirms analysts´ forecasts that the economic stimulus measures will
help to spur this sector. Banks estimate that the economic stimulus
packages adopted all around the world will channel some EUR 340
billion into the renewable energies segment.

end of announcement euro adhoc
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ots Originaltext: Nordex AG
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:

Nordex AG

Ralf Peters

Telephone: +49 40 / 300 30 - 1000, Telefax: - 1333

Branche: Alternative energy
ISIN: DE000A0D6554
WKN: A0D655
Index: TecDAX, CDAX, HDAX, Prime All Share, Technologie All Share,
ÖkoDAX
Börsen: Börse Frankfurt / regulated dealing/prime standard
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