euro adhoc: Nordex AG
Financial Figures/Balance Sheet
Nordex: Preliminary
annual full year figures for 2005 better than expected
Sales up 44%
EBIT before exceptionals positive
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
06.03.2006
According to preliminary calculations, the Nordex Group (ISIN: DE000A0D6554) posted a 44% increase in full-year sales for fiscal 2005 to roughly EUR 309 million (2004: EUR 214 million). This was due to greater than expected business volumes particularly in the strong fourth quarter. During this period alone, Nordex increased its sales by 126% to EUR 133.8 million (Q4/2004: EUR 59.2 million), benefiting from a roughly 67% rise in order receipts and improved sourcing management, thanks to which it was largely able to solve the delivery shortfalls afflicting the industry in 2005.
For the first time, Nordex broke even at the EBIT level (before exceptionals) last year, with earnings before interest, tax and exceptionals coming to roughly EUR 0.3 million (2004: loss at the EBIT level of EUR 21.7 million). Spurred by high capacity utilization, EBIT before exceptionals in the fourth quarter improved to EUR 9.4 million (Q4/2004: loss at EBIT level of EUR 3.3 million). The exceptionals of EUR 5.4 million primarily relate to expenses in connection with recapitalization, impairment charges on receivables and warranty expenditure on older projects. Net loss for the year fell by 74% to EUR 8.2 million (2004: EUR 32.1 million).
This year, the Company expects sales to rise to over EUR 400 million. EBIT margin should come to around 2.5%. To this end, an efficiency-boosting program was launched in spring 2005.
The Management Board will be presenting the audited annual financial statements as well as detailed guidance for the coming years at the analyst and press conference on April 5, 2006 in Frankfurt.
end of announcement euro adhoc 06.03.2006 07:45:51
Further inquiry note:
Ralf Peters
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
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