EANS-News: Nordex SE / Good start to 2011 for Nordex

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quarterly report

Hamburg (euro adhoc) - Press release

Good start to 2011 for Nordex

• Sales up 22% to EUR 183 million
• Increase in EBITDA to EUR 6.5 (4.9) million in Q1/2011
• Order intake up 117%

Hamburg, May 11, 2011. The Nordex Group (ISIN: DE000A0D6554) has
begun the year 2011 with double-digit sales growth. The increase to
EUR 183.1 million (Q1/2010: EUR 150.5 million) was materially
underpinned by the strong performance of Nordex USA, which was able
to expand its sales substantially to EUR 28.9 million (Q1/2010: EUR
3.4 million). At EUR 144.4 million, business in Europe was, by
contrast, only slightly up on the previous year (Q1/2010: EUR 143
million).

Due to an increase in the gross margin from 27.6 percent in the first
quarter last year to 28.2 percent, earnings before interest, taxes,
depreciation and amortisation (EBITDA) climbed to EUR 6.5 million
(Q1/2010: EUR 4.9 million). Earnings before interest and taxes (EBIT)
came to EUR 0.4 million as a result of higher depreciation and
amortisation and were thus roughly unchanged compared with the
previous year. After tax, the Company recorded a consolidated net
loss of EUR 1.8 million (Q1/2010: EUR 0.02 million).

Nordex´s consolidated balance sheet was additionally strengthened as
a result of the equity issue executed in the period under review,
resulting in an increase in the equity ratio from 37.6 to 42.6
percent. At EUR 133.9 million (31.12.2010: EUR 141.1 million), cash
and cash equivalents remained at a high level. Nordex simultaneously
reduced the trade payables which had arisen also in the strong
previous quarter by EUR 47.5 million. This was one of the main
reasons for the net cash outflow from operating activities, which
Nordex intends to reverse in the second half of 2011.

Order intake rose by 117 percent in the first quarter to EUR 154.2
million (Q1/2010: EUR 71.1 million). This positive trend was in line
with management´s forecasts of an increase of 20 percent in new
business for 2011 as a whole. The Management Board continues to
expect full-year sales of around one billion Euros.

At the same time, however, the Company intends to safeguard its
earnings quality by means of the comprehensive cost-cutting programme
initiated in 2010 and new, more efficient products. "Our goal is to
stabilise our earnings this year and to create the potential for
mediumterm improvement," says Thomas Richterich, CEO of Nordex SE. In
2010, Nordex generated an EBIT margin of 4.0 percent.

Nordex plans to boost spending on product development to harness
further efficiency gains. Capital spending volumes are to remain
roughly on a par with the previous year´s level. Explains Richterich:
"We are well on the way to achieving this goal thanks to the equity
issue and the corporate bond issue of the past few weeks which
together generated fresh funds of some EUR 200 million."

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
phone: 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,
ÖkoDAX
Börsen: Frankfurt / regulated dealing/prime standard
Berlin / free trade
Hamburg / free trade
Stuttgart / free trade
Düsseldorf / free trade
München / free trade