EANS-News: Nordex SE / Further improvement in Nordex´s business in the second quarter

- Wider gross margin of 28.5 (21.4)%.
- Improvement in
consolidated profit to EUR 2.9 (2.3) million.
- Increase in order
books to EUR 2.3 billion.
- CEO Richterich: “Three quarters of the
sales target of around EUR 1.2
billion already secured”

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6-month report

Subtitle: - Wider gross margin of 28.5 (21.4)%. - Improvement in
consolidated profit to EUR 2.9 (2.3) million. - Increase in order
books to EUR 2.3 billion. - CEO Richterich: “Three quarters of the
sales target of around EUR 1.2 billion already secured”

Norderstedt (euro adhoc) - Hamburg, August 5, 2010. In the first half
of 2010, the Nordex Group (ISIN:

DE000A0D6554) generated sales of EUR 350 million (previous year: EUR 513
million). This performance was in line with the company´s expectations as
order books had shrunk by 35 percent to around EUR 2 billion in 2009, due
to shortfalls in the project finance provided by banks in the wake of the
financial market crisis. In the second quarter, sales surged by 32 percent
to around EUR 200 million (1st quarter of 2010: EUR 151 million).

Order intake was valued at EUR 329 million in the first six months of the
year (previous year: EUR 439 million), with a large volume of these
contracts arising in the second quarter of 2010. With order receipts
standing at EUR 258 million, it was in fact the strongest quarter for new
business in the past two years. As a result, order books were up for the
first time since the outbreak of the financial market crisis. As of June
30, 2010, Nordex had an order backlog of around EUR 2.3 billion, including
firmly financed contracts of EUR 481 million.

The heightened profitability of the projects realized caused the gross
margin to widen to 28.5 percent. This was accompanied by a slight decline
of 1.4 percent in structural costs, primarily underpinned by the drop of
EUR 7.7 million in other operating expense, net of other operating income
as a result of the company´s cost-cutting program. On the other hand, staff
costs were up as Nordex increased its headcount to a total of 2,357 (June
30, 2009: 2,193) in new growth markets as well as in the engineering
department in particular.

Earnings before interest and taxes (EBIT) came to EUR 7.1 million in the
first half, which was down on the previous year´s figure of EUR 9.5
million, although profitability remained largely unchanged. Around 94
percent of earnings were generated in the substantially stronger second
quarter (Q2 2010: EUR 6.7 million) thanks to the recovery in business
volumes. As a result of the improved net financial result, consolidated
profit grew to EUR 2.9 million (previous year: EUR 2.3 million).

As for the balance sheet to date, liquidity stood at EUR 113.2 million
(December 31, 2009: EUR 159.9 million). The changes in cash and cash
equivalents were materially due to capital spending of EUR 33.4 million and
an increase of EUR 28.4 million in working capital. Nordex increased its
inventories by EUR 27.8 million to EUR 275.1 million in preparation of the
expected recovery in new business. At the same time, the working capital
ratio remained stable at 18.4 percent. The net cash outflow from operating
activities shrank to EUR 19.3 million (previous year: net outflow of EUR
54.0 million).

Nordex continues to project a slight increase in full-year revenues for
2010, which will be materially underpinned by business in the second half
of the year. Says Thomas Richterich, Chief Executive Officer of Nordex SE:
"Three quarters of this target has already been secured via the sales
achieved in the year to date, the firm orders received and the service
business. The final quarter will contribute the new business for the second
half of the year." Nordex assumes that it will be able to generate roughly
30 to 50 percent of the expected new business in the second half of 2010.
With structural costs remaining largely unchanged, the higher sales will
result in additional profit. Accordingly, the EBIT margin is expected to
widen to 4 percent (previous year 3.5 percent), in line with the sales
target of around EUR 1.2 billion.

|( EUR mn / %) |H1 2010 |H1 2009 |Q2 2010 |Q1 2010 |
|Sales |350 |513 |199 |151 |
|Gross margin |28.5% |21.4% |29.2% |27.6% |
|EBIT |7.1 |9.5 |6.7 |0.4 |
|EBIT margin |1.9% |1.8% |3.2% |0.2% |
|Consolidated |2.9 |2.3 |3.0 |0 |
|profit | | | | |
|Order receipts|329 |439 |258 |71 |

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

Further inquiry note:

Nordex SE

Ralf Peters

Telephone 040 / 300 30 - 1000

rpeters@nordex-online.com

Branche: Alternative energy
ISIN: DE000A0D6554
WKN: A0D655
Index: TecDAX, CDAX, HDAX, Prime All Share, Technology All Share,
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