euro adhoc: Nordex AG / Annual Reports / Nordex rising sales and heightened profitability Increase in sales to EUR 151 million / 80% increase in net profit
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Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
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quaterly report
15.05.2007
Hamburg, May 15, 2007. In the first quarter of the current fiscal year, the Nordex Group (ISIN: DE000A0D6554) achieved as planned a 21 percent increase in sales to EUR 151 million (previous year: EUR 125 million). In fact, new business widened by 37 percent to EUR 361 million (previous year: EUR 263 million). Unconditional and conditional orders climbed in value by 53 percent to around EUR 1.36 billion (previous year: EUR 890 million), sufficient to keep the Company busy until the end of 2008.
Earnings before interest and tax (EBIT) improved by 52 percent to EUR 5.6 million (previous year: EUR 3.7 million). Accordingly, the return on sales widened from 2.9 percent to 3.7 percent. This encouraging performance was materially due to the completion of recently received projects with higher margin contributions. At the same time, Nordex was able to trim its cost of materials ratio to 79 percent (previous year: 80 percent). Thanks to its high liquidity (March 31, 2007: EUR 110 million), Nordex achieved an almost balanced financial result. This is materially reflected in net profit, which rose by around 80 percent to EUR 4.7 million (previous year: EUR 2.6 million).
The sourcing difficulties in some parts of the market and the establishment of new production sites in China led to an increase in inventories for projects to be completed in the short term. Accordingly, inventories were up 11 percent to EUR 157 million as of the balance sheet date. The equity ratio was virtually unchanged at 33 percent.
Looking ahead over the next few quarters, the Management Board expects further growth in business volumes together with a higher return on sales. Nordex continues to project fullyear sales of more than EUR 750 million for 2007 (previous year: EUR 514 million). The EBIT margin is expected to come to around 6 percent (previous year 3.2%).
end of announcement euro adhoc 15.05.2007 08:18:36
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ots Originaltext: Nordex AG Im Internet recherchierbar: http://www.presseportal.de
Contact: Ralf Peters Head of Corporate Communication Tel.: +49 (0)40 50098 522 rpeters@nordex-online.com
Branche: Alternative energy ISIN: DE000A0D6554 WKN: A0D655 Index: CDAX, Prime All Share, Technologie All Share, TecDAX, HDAX, Midcap Market Index Börsen: Frankfurter Wertpapierbörse / regulated dealing/prime standard Börse Berlin-Bremen / free trade Baden-Württembergische Wertpapierbörse / free trade Börse Düsseldorf / free trade Bayerische Börse / free trade
