CORRECTED - Nordex expects strong H2 2012 to help it achieve full-year targets

May 15, 2012 - German wind turbine maker Nordex SE (ETR:NDX1) reckons with strong business development in the second half of 2012, which will help it reach its financial goals.

The company, which today reported final figures for the first quarter of 2012, reiterated its full-year guidance for revenues ranging from EUR 1 billion (USD 1.285bn) to EUR 1.1 billion.

In the first three months of this year, Nordex has lowered costs by 10% and improved liquidity to EUR 230.7 million from EUR 212 million. The company more than halved its net debts to EUR 23.4 million at the end of March, 2012 from EUR 54 million at the end of December 2011.

Price drops, however, coloured some of the company's figures in deep red. Nordex booked a loss before interest and tax of EUR 9 million, while a year ago it had earnings before interest and tax of EUR 400,000 on record. The net loss widened to EUR 14 million from EUR 1.8 million in the first quarter of 2011.

Revenues, however, improved by 8.3% year-on-year to EUR 198.3 million.

The order intake gave Nordex the most hope for future improvement, as it more than doubled in the first three months of 2012 -- to EUR 312 million from EUR 154 million.

(EUR 1.0 = USD 1.285)

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