EANS-News: Nordex reports slight growth in sales and a 50% increase in order backlog in the first half of the year

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Financial Figures/Balance Sheet/Half year report

Subtitle: • Market share gained in new business • Firm order backlog
up 50% to EUR 873 million • Widening gross margin in Q2 •
Double-digit increase in EBIT in the Europe segment • 7.5% decline in
working capital • Guidance confirmed by the Management Board • Rising
capacity utilisation will underpin return to profitability in H2

Hamburg (euro adhoc) - The Nordex Group (ISIN: DE000A0D6554) posted a
4.4 percent increase in sales to EUR 421.1 million in the first half
of 2012 (2011: EUR 403.3 million). This growth was driven by the
Company's core European market, where sales grew by 17.2 percent to
EUR 338.2 million.

At EUR 522 million, new orders remained steady at the previous year's
good level. Consequently, the Nordex Group is outperforming the wind
power indus-try as a whole, which sustained a decline of roughly 30
percent in new busi-ness. The strong order intake resulted in a 50
percent increase in the firmly fi-nanced order book, which rose to
EUR 873 million (30 June 2011: EUR 581 million). Including
conditional orders of EUR 1.4 billion, the order book amounted to a
total of EUR 2.3 billion as of the reporting date.

In the first half of the year, a loss of EUR 13.1 million was
sustained at the EBIT level (previous year: EBIT of EUR 1.6 million),
chiefly as a result of pres-sure on turbine prices and lower capacity
utilisation. However, the loss was reduced to EUR 4.2 million in the
second quarter (Q1/2012: EUR 9.0 million) due to increased business
volume in the course of the year and an improvement of 2.4 percentage
points in the gross margin. In addition, the decline of 14 percent in
structural costs to EUR 94.7 million (2011: EUR 109.8 million)
resulting from the reduction in other operating expenses had a
favourable effect. Earnings differed according to segment. In Europe,
operating earnings rose at a double-digit rate. The consolidated loss
after interest and taxes amounted to EUR 23.3 million (2011: loss of
EUR 4.1 million).

As planned, the work on a large number of projects for short-term
completion temporarily tied up liquidity, which therefore declined
to EUR 175.1 million as of the reporting date (31 December 2011: EUR
212.0 million). Working capital improved by 7.5 percent to EUR 236.3
million (31 December 2011: EUR 255.4 million). The net cash outflow
from operating activities improved substantially to EUR 4 million
(previous year: outflow of EUR 122.4 million).

Nordex continues to expect that full-year sales will grow to EUR 1.0
- 1.1 billion in 2012 (2011: EUR 921 million). This figure is chiefly
covered by the firm orders in hand. However, the upper edge of this
range will only be achieved in the event of an acceleration in the
pace at which projects are executed. In the first half of the year, a
few customers had postponed individual projects. The Management Board
expects further new orders of between EUR 480 and 580 million in the
second half of the year, thus confirming the previous guidance of
full-year order intake of up to EUR 1.1 billion in 2012. The rising
capacity utilisation cause the operating margin to increase to 1 - 3
percent.

Further inquiry note:
Ralf Peters
Head of Corporate Communication
Tel.: +49 (0)40 300 30 15 22
rpeters@nordex-online.com

end of announcement euro adhoc
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company: Nordex SE
Langenhorner Chaussee 600
D-22419 Hamburg
phone: +49 (0)40 30030-1000
FAX: +49 (0)40 30030-1101
mail: info@nordex-online.com
WWW: http://www.nordex-online.com
sector: Alternative energy
ISIN: DE000A0D6554, DE0000A0D66L2
indexes: TecDAX, CDAX, HDAX, Prime All Share, Technology All Share, ÖkoDAX
stockmarkets: free trade: Berlin, München, Hamburg, Düsseldorf, Stuttgart,
regulated dealing/prime standard: Frankfurt
language: English