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Press Release

Publisher: Nordex SE

Nordex aims for profitable growth with Acciona Windpower

• Clearance by competition authorities expected in Q1/2016
• Joint sales target of EUR 4.2 – 4.5 billion by 2018
• EBITDA margin of over 10% targeted for 2018

Hamburg - At its Capital Markets Day in Frankfurt, Nordex SE (ISIN: DE000A0D6554) presented its medium-term strategic targets for the period through 2018. These plans are based on the assumption that it will be able to merge its operating business with that of Acciona Windpower (AWP) at the beginning of 2016. Nordex has already applied for antitrust clearance of the acquisition of AWP.

By pooling their activities, Nordex and AWP aim to establish a global player which is well positioned to face future market challenges. Both companies are an almost perfect fit for each other in terms of markets, products and sites, meaning that they will be able to offset the effects of possible fluctuation in regional demand even more effectively. With their combined product ranges, they will be able to address the typical requirements of customers in established wind power markets as well as in emerging markets.

The overarching goal being pursued by the new and larger Nordex SE will be to achieve a substantial reduction in the cost of energy from wind power. The cost of energy is to be lowered by 15 - 18% by 2018 through more efficient turbines and reduced product costs. This will be one of the key levers for increasing sales to the target mark of EUR 4.2 - 4.5 billion over the next three years. The two companies, which are currently still operating separately, are targeting sales of EUR 2.4 billion (Nordex) and EUR 1.0 billion (AWP) in 2015.

The Management Board expects that, as a joint entity, the group will be able to achieve an EBITDA margin of over 10% by 2018, including around 60% of the synergy benefits of EUR 95 million per year expected from 2019 onwards. The Management Board particularly expects to be able to derive synergy benefits from successful joint marketing activities. In contrast, cost synergies are not the core aim of the acquisition.

“Nordex and AWP are an ideal fit for each other. We complement each other in key areas and there is only little overlap. This will make the transformation of the two companies into a single group easier and allow it to bear fruit quickly,” says Nordex CEO Lars Bondo Krogsgaard. Both companies are already working on preparations for the merger, which is to be completed around 18 months after clearance by competition authorities is received.

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Hamburg, 12 November 2015


Publication and Reprint free of charge; please send a voucher copy to
Nordex SE.


Publication and Reprint free of charge; please send a voucher copy to
Nordex SE.


Attention editorial offices: For further questions please contact

Media contact:
Ralf Peters
Telephone + 49 40 300 30 – 1522
E-mail: rpeters@nordex-online.com


Nordex SE
Langenhorner Chaussee 600
22419 Hamburg
Germany

Internet: http://www.nordex-online.com



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About Nordex SE

The development, manufacture, project management and servicing of wind turbines in the onshore segment has been the core competence and passion of the Nordex Group and its more than 7,900 employees worldwide since 1985. As one of the world's largest wind turbine manufacturers, the Nordex Group offers high-yield, cost-efficient wind turbines under the Acciona Windpower and Nordex brands that enable long-term and economical power generation from wind energy in all geographical and climatic conditions.

The focus is on turbines in the 3 to 5MW+ class, and the Group’s comprehensive product portfolio offers individual solutions for both markets with limited space and regions with limited grid capacities. With more than 29 GW of installed capacity worldwide, Nordex Group systems deliver sustainable energy throughout more than 80 per cent of the world’s energy market (excluding China).

Nordex SE is listed on the TecDAX of the Frankfurt Stock Exchange. The management holding company is headquartered in Rostock, while the executive board and administrative offices are based in Hamburg. At production facilities in Germany, Spain, Brazil, the US, and India, the Nordex Group produces its own nacelles, rotor blades and concrete towers. The Group also maintains offices and branches in more than 25 countries.

http://www.nordex-online.com

Press contact at Nordex SE

Felix Losada
Mail: flosada@nordex-online.com
Phone: +49 - (40) - 300 30 - 1141

Felix Losada

Press contact

Felix Losada

Felix Losada
Nordex SE
Mail: flosada@nordex-online.com
Phone: +49 - (40) - 300 30 - 1141