Slide 1: Nordex SE – Financial figures H1/2023
| Nordex Group Nordex SE – Financial figures H1/2023 27th July 2023 Financial figures H1/2023 | 27 July 2023
Slide 2: Disclaimer
2| Disclaimer › All financial figures within this presentation are unaudited. › This presentation was produced in July 2023 by Nordex SE solely for use as a source of general information regarding the economic circumstances and status of Nordex SE. It does not constitute an offer for the sale of sec
Slide 3: Agenda
3| Agenda Introduction José Luis Blanco Markets and orders Patxi Landa Financials Dr Ilya Hartmann Operations and technology José Luis Blanco Guidance and Outlook José Luis Blanco Q&As All Key takeaways José Luis Blanco Financial figures H1/2023 | 27 July 2023
Slide 4: Executive summary H1/2023
4 | Introduction Executive summary H1/2023 H1/2023 RESULTS Sales EBITDA margin Working capital ratio EUR 2,753m -4.2% -9.6% › Order intake of over 2.6 GW in H1/2023 (previous year: 3.0 GW) with improved ASP of EUR 0.89m/MW compared to the first-half 2022 (EUR 0.79m/MW). › Sales increased to EUR 1,53
Slide 5: Order intake H1/2023
5 | Markets & orders Order intake H1/2023 Order intake turbine* (in MW) Order intake turbine* by regions (in MW in %) Europe North America Latin America -12% 3,002 2,641 70% 100% 7% 23% H1/2022 H1/2023 H1/2022 H1/2023 › Order intake in H1/2023: EUR 2,354m (EUR 2,357m › Orders received from 16 differ
Slide 6: Service business in H1/2023
6 | Markets & orders Service business in H1/2023 Development of service revenues (EUR m) and EBIT margin Comments EBIT margin 17.3% 13.2% › Share of service sales totaled 11% of group sales in the +35% first half-year 2023 305 › Service EBIT margin of 13.2% in the first six months 226 2023, on accou
Slide 7: Combined order book of EUR 9.8bn at the end of H1/2023
7 | Markets & orders Combined order book of EUR 9.8bn at the end of H1/2023 Order book turbines (EUR m) Order book service (EUR m) +12% -4% 6,677 3,418 6,387 3,061 H1/2022 H1/2023 H1/2022 H1/2023 › Order book of EUR 6.4bn at the end of H1/2023 › 10,956 wind turbines under service agreement reflects
Slide 8: Income statement H1/2023
8 | Financials Income statement H1/2023 in EUR m (rounded figures) H1/2023 H1/2022 abs. change Comments Sales 2,753 2,126 627 › Sales in H1/2023 increased by Total revenues 2,799 2,220 579 around 30% compared to the same period last year Cost of materials -2,505 -1,974 -531 › Gross margins still imp
Slide 9: Balance sheet H1/2023
9 | Financials Balance sheet H1/2023 in EUR m 30.06.23 31.12.22 abs. change Δ in % Comments (rounded figures) Non-current assets 1,771 1,795 -24 -1.4 › Solid liquidity levels of around EUR 741m (incl. RCF) at the end Current assets 3,025 2,961 64 2.1 of H1/2023 Total assets 4,796 4,757 39 0.8 › The
Slide 10: Working capital development H1/2023
10 | Financials Working capital development H1/2023 Working capital ratio (in % of sales)* Working capital development (in EUR m)* FY guidance 2023 below -9% -9 -9.6 109 -80 -9.8 12 -10.2 -605 -10.8 -10.6 -636 Q2/ Q3/ Q4/ Q1/ Q2/ Q1/ Receiva- Inven- Prepay- Pay- Q2/ 2022 2022 2022 2023 2023 2023 ble
Slide 11: Cash flow statement H1/2023
11 | Financials Cash flow statement H1/2023 in EUR m H1/2023 H1/2022 Comments Cash flow from operating activities › Cash flow from operating -243.8 -187.8 before net working capital activities impacted by softer margin levels Cash flow from changes in working 25.6 -30.3 capital › Cash flow from inve
Slide 12: Total investments in H1/2023
12 | Financials Total investments in H1/2023 CAPEX (in EUR m) Comments Property, plant, equipment › Investments in H1/2023 primarily comprise: Intangible assets • Investments in moulds and equipment -43.9% • Investments intransport equipment for blade and 88.8 tower › Intangible assets increased com
Slide 13: Capital structure H1/2023
13 | Financials Capital structure H1/2023 (Net debt) / net cash* Equity ratio (in %) 400 40 360 350 35 292 300 271 244 30 250 200 25 21.0 150 104 20 17.9 20.7 100 18.5 15 50 15.0 0 10 Q2/ Q3/ Q4/ Q1/ Q2/ Q2/ Q3/ Q4/ Q1/ Q2/ 2022 2022 2022 2023 2023 2022 2022 2022 2023 2023 › Net cash levels increase
Slide 14: Operational performance H1/2023
14 | Operations & technology Operational performance H1/2023 Installations (MW) Production +66% Turbine assembly (MW) Total blade production (#) In-house outsourced 3,098 -2% 2,935 +3% 2,886 2,162 2,224 1,864 573 506 1,589 1,718 (73%) (77%) H1/2022 H1/2023 H1/2022 H1/2023 H1/2022 H1/2023 › Total ins
Slide 15: Guidance for FY 2023
15 | Guidance and Outlook Guidance for FY 2023 H1/2023 Guidance FY 2023 Sales: EUR ~2.8bn EUR 5.6 - 6.1bn EBITDA margin: -4.2% -2% to +3% Working capital ratio: -9.6% below -9% CAPEX: ~50m approx. EUR 200m Please note the assumptions underlying the guidance are subject to greater uncertainties than
Slide 16: Time for your questions
16 | Q&As Time for your questions Answers Questions Financial figures H1/2023 | 27 July 2023
Slide 17: Key takeaways
17 | Key takeaways Key takeaways Order intake back-end loaded for 2023 with further sequential improvement of 1 margins. Development in the second quarter was in line with expectations with a stronger 2 second half compared to the first one. Nordex has strengthened its financial position and flexibi
Slide 18: Thank you for your attention
18 | Thank you for your attention Financial figures H1/2023 | 27 July 2023
Slide 19: Contact details
19 | Contact details IF YOU HAVE ANY QUESTIONS PLEASE CONTACT: Felix Zander Phone: +49 152 0902 40 29 Email: fzander@nordex-online.com Tobias Vossberg Phone: +49 173 4573 633 Email: tvossberg@nordex-online.com Nordex SE Langenhorner Chaussee 600 22419 Hamburg / Germany www.nordex-online.com Financia