Ad-hoc bulletin: Nordex with a triple-digit increase in profits and sales - Sales up 113% to EUR 373 million / EBIT of EUR 12.1 million

Hamburg, November 23, 2006. In the first nine months of the current fiscal year, the Nordex Group (ISIN: DE000A0D6554) generated a 113 percent increase in sales to EUR 373 million (previous year: EUR 175 million). This performance was particularly underpinned by the sharp growth in export business, with roughly 75 percent of sales generated in Europe excluding Germany as well as Asia (previous year: 52%). This was accompanied by similar growth in order receipts. The portfolio of firm and conditional orders is valued at EUR 763 million. New business widened by 84 percent to EUR 515 million (previous year: EUR 280 million).

Earnings before interest and tax (EBIT) rose by 200% to EUR 12.1 million (previous year: loss of EUR 12.3 million). In the third quarter, the EBIT margin stood at 3.4%. This improvement in earnings is primarily due to full capacity utilization. This year, Nordex has widened its turbine output by around 155 percent to 426 MW (previous year: 167 MW). Net income for the period rose to roughly EUR 6.4 million (previous year: loss of EUR 14.6 million).

As of the balance sheet date, the equity ratio stood at 37 percent, up from 27 percent, with cash and cash equivalents rising by EUR 88.5 million to EUR 108 million. This was materially due to the equity issue completed in May, high advance payments received from customers for current projects and reservation fees for future projects. The ratio of advance payments received (including reservation fees) expanded from 97 percent to around 112 percent. This had a positive effect on the working capital ratio as well as operating cash flow. The working capital ratio before reservation fees contracted to 12.5 percent as of September 30, 2006 (December 31, 2005: 14.5%). Cash flow from operating activities climbed to EUR 28.5 million (December 31, 2005: outflow of EUR 24.9 million).

As of the balance sheet date, the Group is well on track to meeting its full-year target of sales of more than EUR 500 million and an EBIT margin of over 3 percent. Turning to fiscal 2007, the Management Board is still aiming for operative growth of around 50 percent and an improvement in profitability.

Nordex will be providing detailed guidance for next year during a telephone conference in December. The Management Board will be presenting details of the Group's business performance on November 28, 2006 at Deutsche Börse's Eigenkapitalforum in Frankfurt.


For more information, please contact:
Nordex AG
Ralf Peters
Telephone: +49 40 500 - 100, Telefax: +49 40 500 - 333
E-mail: rpeters@nordex-online.com>rpeters@nordex-online.com
Internet: http://www.nordex-online.de

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