EANS-Adhoc: Nordex lays the foundation for a stronger second half and strengthens its balance sheet - Sales up 8.3% to EUR 198.3 million - EBIT loss of EUR 9 million EBIT level in Q1 due to capac

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ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro
adhoc with the aim of a Europe-wide distribution. The issuer is solely
responsible for the content of this announcement.
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quarterly report

15.05.2012

The Nordex Group (ISIN: DE000A0D6554) posted an 8.3 percent increase
in sales to EUR 198.3 million in the first quarter of 2012 (previous
year: EUR 183.1 million). As expected, business volume thus accounted
for just under 20% of the forecast full-year sales. This cyclical
effect is typical of the wind power industry. Sales were particularly
underpinned by business in Europe, the most important sales region,
in which business volume rose by 17.2% to EUR 169.3 million.

Operating profit was burdened by below-average capacity utilisation
and lower margins on projects. Earnings before interest and taxes
amounted to a loss of EUR 9.0 million in the first quarter of 2012
(Q1/2011: EBIT of EUR 0.4 million). At the same time, Nordex lowered
its structural costs by some 10%, including a 41.3% reduction in net
other operating expenses. The consolidated loss after interest and
taxes amounted to EUR 14 million (Q1/2011: loss of EUR 1.8 million).

In the period under review, Nordex's liquidity increased to EUR 230.7
million (31 December 2011: EUR 212 million). As a result, the group
was able to trim its net debt to EUR 23.4 million (31 December 2011:
EUR 54.0 million) chiefly thanks to systematic working capital
management. Thus, Nordex largely post-poned commencing work on
projects which are to be completed later on in the year. This is also
reflected in the substantial increase to EUR 34.8 million in net cash
flow from operating activities (Q1/2011: net cash outflow of EUR 84.5
million) and the only moderate increase in business volumes. Free
cash flow increased to a positive EUR 25.7 million (Q1/2011: negative
EUR 94.9 million).

Order intake was particularly encouraging, rising to EUR 312 million
(Q1/2011: EUR 154 million). As a result, the order book grew to EUR
837 million (Q1/2011: EUR 402 million), thus creating a solid basis
for the company to achieve its full-year sales target. The Management
Board of Nordex SE confirms its forecast for 2012 of an increase in
sales to EUR 1.0 - 1.1 billion. Depending on sales and price trends,
Nordex also expects to achieve an EBIT margin of between 1% and 3%.
With rising capacity utilisation and profitability of the projects
still to be executed, this profit will be achieved entirely in the
second half of the year.

Further inquiry note:
Ralf Peters
Head of Corporate Communication
Tel.: +49 (0)40 300 30 15 22
rpeters@nordex-online.com

end of announcement euro adhoc
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issuer: Nordex SE
Langenhorner Chaussee 600
D-22419 Hamburg
phone: +49 (0)40 30030-1000
FAX: +49 (0)40 30030-1101
mail: info@nordex-online.com
WWW: http://www.nordex-online.com
sector: Alternative energy
ISIN: DE000A0D6554, DE0000A0D66L2
indexes: TecDAX, CDAX, HDAX, Prime All Share, Technology All Share, ÖkoDAX
stockmarkets: free trade: Berlin, München, Hamburg, Düsseldorf, Stuttgart,
regulated dealing/prime standard: Frankfurt
language: English