euro adhoc: Nordex AG
Earnings Forecast
Guidance for fiscal 2006 raised
Record order book thanks to EUR 263 million of new business in the first quarter
/ revenues to grow by 50% in 2006
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
04.04.2006
With the presentation of its final annual financial statements for fiscal 2005, the Nordex Group (ISIN: DE000A0D6554) has raised its guidance for 2006. Accordingly, it now expects order receipts and sales to rise by 50% to EUR 600 million and EUR 460 million, respectively (2005: EUR 395 million and EUR 309 million, respectively). The previous targets had been for new business of EUR 450 million and sales of EUR 400 million. The Company now projects an EBIT margin of 3.0%; previous 2.5% (2005: - 1.6%).
The main reason for the higher full-year targets is the further improvement in orders at the end of the first quarter. Between January and March 2006, Nordex received new orders worth around EUR 263 million, more than ever before in a single quarter. Earnings will improve particularly as a result of expected higher capacity utilization and the higher price quality of new projects. For this reason, the medium-term sales and earnings forecasts are to be revised over the next few weeks.
The preliminary annual financial statements released on March 6, 2006 have since received an auditors certificate and have been approved by the Supervisory Board. According to these figures, Nordexs sales rose by 44% to around EUR 309 million in 2005 (2004: EUR 214 million), benefiting from a roughly 67% rise in order receipts and improved sourcing management, thanks to which it was largely able to avoid the delivery shortfalls afflicting the industry in 2005.
For the first time, Nordex broke even at the EBIT level (before exceptionals) again 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). Net loss for the year contracted by 74% to EUR 8.2 million (2004: EUR 32.1 million).
The Management Board will be presenting the audited annual financial statements as well as detailed guidance for this year at the annual press and analyst conference on April 5, 2006 in Frankfurt.
end of announcement euro adhoc 04.04.2006 17:34:11
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