Nordex Se · XETR:NDX1

Nordex — Q1 2013 Earnings Presentation

16 slides from Nordex's earnings presentation, May 15, 2013

  1. Slide 1: Nordex SE Conference Call Q1 2013

    Nordex SE Conference Call Q1 2013 Frankfurt/Main May 15, 2013

  2. Slide 2: Agenda

    AGENDA 1. Highlights Dr. J. Zeschky 2. Market Update and business performance Dr. J. Zeschky 3. Financials B. Schäferbarthold 4. Summary and guidance 2013 Dr. J. Zeschky 5. Appendix Conference Call Q1 2013 | Nordex SE | Frankfurt/M. | May 15, 2013 2

  3. Slide 3: 1. Highlights

    1. HIGHLIGHTS  Significant performance improvement in major KPIs:  Order intake rose by another 5 % yoy  Sales increased by 30 % yoy  EBIT of EUR -0.7m in line with budget and significantly above Q1 2012 (EUR -9 mn)  Working capital ratio well below 15 % target (11.8 % in Q1 2013 vs. 19.7 % in

  4. Slide 4: 2. Market Update

    2. MARKET UPDATE  Change of legal framework initiated or expected for major markets  Demand in core markets like Northern Europe and in Turkey still stable  No major changes expected in Germany over the next 1-2 years EMEA  Nordex: Encouraging customer interest in N117/2400, good production capa

  5. Slide 5: 2. Business Performance Along the Value Chain

    2. BUSINESS PERFORMANCE ALONG THE VALUE CHAIN Order backlog •EUR 1.141 Mio. (+36 % yoy) •Sales target 2013 fully covered by existing backlog Installations •228.3 MW (+101 % yoy) •Thereof 97 % in Europe, esp. UK (85 MW), Germany (63 MW) and Turkey (30 MW) Production •Turbine production:236.5 MW (+60

  6. Slide 6: 2. Order Intake

    2. ORDER INTAKE Development of firm order intake Q1 2009 – Q1 2013 (in EUR mn) Order intake distribution Q1 2013 APAC +9% 406 +5% Americas 1% EMEA 328 23% 312 234 154 76% 71 Q1 2008 Q1 2009 Q1 2010 Q1 2011 Q1 2012 Q1 2013  Order intake of EUR 327.9 mn - best Q1 since 2008 (EUR 406.0 mn)  76 % from

  7. Slide 7: 2. Order Backlog

    2. ORDER BACKLOG Development of firm order backlog 2012 – Q1 2013 (in EUR mn) +36% +9% 1.141 1.049 837 873 735 Q1 2012 Q2 2012 Q3 2012 Q4 2012 Q1 2013  Firm order backlog now at EUR 1,141 mn (31.03.2012: EUR 862 mn)  Thereof 87 % EMEA - exposure to Southern European countries affected by the debt

  8. Slide 8: 3. Income Statement

    3. INCOME STATEMENT In EUR mn Q1 2013 Q1 2012 ∆ in % Sales 259.0 198.3 30.6 Total revenues 281.1 191.1 47.1 Cost of materials (221.3) (151.5) 46.1 Gross profit 59.8 39.6 51.0 Personnel costs (34.7) (32.8) 5.8 Other operating (expenses)/income (17.9) (8.8) >100 EBITDA 7.2 (2.0) >100 Depreciation (7.9

  9. Slide 9: 3. Cash Flow Statement

    3. CASH FLOW STATEMENT In EUR mn Q1 2013 Q1 2012 Net result (8.4) (14.0) Depreciation 7.9 7.0 Change in provisions (2.7) (5.2) Change in working capital (40.7) 48.9 Other cash outflow from operating activities (16.1) (1.9) Cash flow from operating activities (60.0) 34.8 Cash flow from investing acti

  10. Slide 10: 3. Inventories and Working Capital Development

    3. INVENTORIES AND WORKING CAPITAL DEVELOPMENT Quarterly development of inventories and working capital ratio 2010 – Q1 2013 400 40 Inventories in EUR mn 34.2 350 35 310 +25% 293 300 275 275 279 281 30 273 267 257 250 227 235 25 224 205 200 20 19.7 150 11.8 15 100 10 50 5 0 0 Q1 Q1 Q1 Q1 2010 2011 2

  11. Slide 11: 3. Balance Sheet

    3. BALANCE SHEET In EUR mn Q1 2013 FY 2012 Q1 2013 FY 2012 Liquid funds 194.2 274.8 Current bank borrowings 28.2 27.5 Trade receivables 259.9 245.9 Trade payables 191.9 189.4 and future receivables Net inventories 256.5 224.3 Other current liabilities 333.8 338.2 Other current assets 84.2 68.8 Curre

  12. Slide 12: 4. Summary and Guidance 2013

    4. SUMMARY AND GUIDANCE 2013  Q1 2013 in line with our expectations  Order intake momentum still strong  Sales target ~90 % covered by strong order backlog  Seasonality with a stronger H2 and cost-cutting benefits support our EBIT target Guidance FY 2013 Order Intake EUR ~ 1.2 bn Sales EUR 1.2 –

  13. Slide 13: 5. Financial Calendar

    5. FINANCIAL CALENDAR Date Event 15 May 2013 Interim report for the first quarter 2013; Analyst Call 15 May 2013 Deutsche Bank GSAC conference in Frankfurt 21-22 May 2013 Road show (Luxembourg, London) 04 June 2013 Annual General Meeting in Rostock 15 August 2013 Interim report for the first half 20

  14. Slide 14: 5. Shareholder Structure of Nordex SE

    5. SHAREHOLDER STRUCTURE OF NORDEX SE SKion/momentum capital 24.99% Free float 75.01% On the basis of 73.529 mn shares, as of April 2013 Conference Call Q1 2013 | Nordex SE | Frankfurt/M. | May 15, 2013 14

  15. Slide 15: Disclaimer

    DISCLAIMER The targeted goals in this document reflect forward looking statements which are based solely on estimates and not on predictable risks. Should the estimates with regard to the successful integration of acquisitions and the future internal growth of the company not to be realized or if ot

  16. Slide 16: Many Thanks for Your Attention.

    MANY THANKS FOR YOUR ATTENTION. Ralf Peters Head of Corporate Communications Phone: +49 (0)40 30030 1522 Fax: +49 (0)40 30030 1333 eMail: rpeters@nordex-online.com Oliver Kayser Investor Relations Manager Phone: +49 (0)40 30030 1024 Fax: +49 (0)40 30030 1333 eMail: okayser@nordex-online.com Nordex S

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