Publisher: Nordex SE
Nordex entering a new league in 2016
- Merger with Acciona Windpower to be finalised at the beginning of April
- Further sales growth to more than EUR 3.4 billion
- EBITDA margin of over 7.5% expected
- Preliminary full-year figures for 2015 confirmed
Hamburg (renewablepress) - On the basis of its audited consolidated financial statements which have now been released, the Nordex Group (ISIN: DE000A0D6554) is able to confirm the preliminary data for 2015 which it reported in February.
According to these figures, sales rose by around 40% to EUR 2,430.1 million in 2015 (2014: 1,734.5 million). Earnings before interest and taxes (EBIT) climbed by just under 62% to EUR 126.2 million (2014: EUR 78.0 million). Accordingly, operating profit (EBIT) came within the forecast, while sales slightly exceeded the guidance range, which had been most recently adjusted upwards in November.
Consolidated net profit rose by some 34% to EUR 52.3 million (2014: EUR 39.0 million), translating into earnings per share of EUR 0.65 (2014: EUR 0.48). The net profit is affected by a high tax rate due to lost tax losses carried forward in context with the forthcoming change of the main shareholder. These negative tax effect has been fully taken into account in the 2015 annual statements. Thanks to the increased profit and the persistently low working capital ratio of -1.2% (2014: -2.3%), free cash flow widened by a further 5% to EUR 94.6 million.
Nordex also achieved new records in its operating indicators: in addition to order intake, which rose by 41% to EUR 2,470.9 million (2014: EUR 1,753.9 million), the turbine assembly output of 1,899 MW (2014: 1,417 MW) and the installation output of 1,697 MW (2014: 1,489 MW) reached the highest levels ever in the company’s history of more than 30 years.
Following the merger with Acciona Windpower, for which antitrust clearance has recently been received, Nordex will be adding a new chapter to its history. The transaction is to be finalised both legally and commercially at the beginning of April. Based on the already published firm order backlog, Nordex and Acciona Windpower are jointly seeking sales of over EUR 3.4 billion and an EBITDA margin in excess of 7.5% in 2016.
In addition to current demand, the outlook is also based on the increased order backlog for turbine engineering. The volume of firmly financed orders placed with Nordex increased by 14% to EUR 1,668.0 million on the reporting date (31 December 2014: 1,461.6 million). This will be supplemented by the company’s own service business and, from the second quarter, Acciona Windpower’s activities. According to the Acciona Group, order backlog stands at 1,140 MW as of 31 December 2015.
“We started 2016 backed by a good order book and continue to observe strong demand in our focus markets such as Germany, France and Turkey. Looking forward, Acciona Windpower markets, e.g. India and Mexico, will also be contributing to our growth. In addition, we will be benefiting to a greater extent from the renewal of the production tax credits in the United States,” says Chief Executive Officer Lars Bondo Krogsgaard and adds: “This give us a very good basis for further growth and an excellent starting point for the coming year. In addition to transforming the two companies into a single entity, we also want to achieve progress in the quality of our earnings on the basis of improved products.”
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As one of the technological leaders in multi-megawatt wind power systems, Nordex is benefiting from the trend in favour of large-scale turbines. The Generation Gamma range comprises the N90/2500, N100/2500 and the N117/2400, which is one of the most efficient series turbines for non-coastal regions. To date, over 3,600 of these turbines have been produced. With Generation Delta, Nordex is now offering the fourth generation of its proven multi-megawatt platform (N100/3300, N117/3000, N131/3000 as well as the N131/3000 for the German market). Nordex has installed a total of around 7,000 turbines with an aggregate capacity of more than 13,000 MW all around the world. With exports accounting for around 70 percent of its business, Nordex SE also plays a key role in international high-growth regions. The Company has offices and subsidiaries in more 20 countries around the world The Group currently has around 3,300 employees around the world. In October 2015, the Nordex Group announced that it would be merging with the Spanish turbine producer Acciona Windpower.
Hamburg, 21 March 2016
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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.
Press contact at Nordex SE
Phone: +49 - (40) - 300 30 - 1141