Key Developments: Nordex SE (NRDXF.PK)
7.55USD
17 May 2013
$0.05 (+0.67%)
$7.50
$7.55
$7.55
$7.55
100
430
$7.90
$3.37
Latest Key Developments (Source: Significant Developments)
Nordex SE Confirms FY 2013 Sales and EBIT Margin Forecast
Nordex SE announced that its Management Board confirms its forecast for the fiscal year 2013 and expects a further increase in sales to the range of between EUR 1.2 billion and EUR 1.3 billion. The Management Board also expects a full fiscal year 2013 EBIT margin of between 2% and 3%. According to I/B/E/S Estimates, analysts on average are expecting the Company to report fiscal year 2013 revenue of EUR 1,158.21 million. Full Article
Nordex SE Receives Order from Uruguay's Usinas y Trasmisiones Electricas
Nordex SE announced that Nordex USA, Inc. concluded an agreement with Usinas y Trasmisiones Electricas (UTE), Uruguay's state power company, for the sale of 28 of its N117/2400 wind turbines for the Juan Pablo Terra wind farm. Nordex, a manufacturer of utility scale wind turbines, will be responsible for delivery, installation and commissioning and for ongoing maintenance for a minimum of ten years. The site, on the border with Brazil, is located a few miles from the city of Artigas, in the north of Uruguay, approximately 370 miles (600 kilometers) from Montevideo, the capital city. Delivery of turbines is slated to begin in February 2014 with project completion in June 2014. Each of the 2.4 megawatt (MW) turbines will be capable of powering approximately 3,500 Uruguayan homes. Financial details were not disclosed. Full Article
Nordex SE Confirms FY 2012 Operating Margin Forecast
Nordex SE announced that it still expects an operating margin (EBIT before non-recurring expenses) of approximately 1% for the fiscal year 2012. Full Article
Nordex SE Receives New Contracts in Turkey
Nordex SE announced that it has received a contract for the construction the Edincik 30-MW wind farm in a project entailing the delivery and installation of twelve N100/2500 multi-megawatt turbines. Work on installing the Edincik wind farm, which is located close to the Marmara Sea, is to commence in spring 2013. The site is characterized by medium to weak wind conditions. The calculated annual yield comes to approximately 95 GWh, equivalent to an above-average capacity factor of 36%. In addition Nordex has been awarded the order for the extension of the wind farm "Susurluk", which was installed by the manufacturer for the Eksim group in 2010. Nordex will add six N100/2500 systems to the existing 45 MW farm. Financial details were not disclosed. Full Article
Nordex SE Receives Contract for 80 Megawatt Chirnogeni Wind Farm in Romania
Nordex SE announced that Iberdrola Engineering & Construction has awarded the Company a contract in Romania for the supply and installation of 32 N90/2500 turbines for the 80 Megawatt Chirnogeni wind farm. The wind farm is located in the Dobrogea Region near to the Black Sea coast. At this windy location characterized by mean wind speeds in excess of 7 metres per second (m/s), the wind farm is expected to perform well with the N90/2500 turbines employed. The ultimate owner and operator of the wind farm is EP Wind Project (Rom) Six S.A., a company owned by three different investors, of which the Marguerite Fund is the main with a share of 50%. EP Global Energy, a privately owned power development company incorporated in Cyprus, started developing the project from inception back in 2007 and will continue to retain a 20% stake while Prague based private equity fund EnerCap Power Fund will hold the remaining 30% of the wind farm. The owner has already issued a notice to proceed to Iberdrola Engineering & Construction who are acting as the EPC Contractor to the wind farm, with Nordex SE supplying the turbines commencing in the summer of 2013. The Company expects to place the turbines into commercial operation beginning late 2013. Financial details were not disclosed. Full Article
Nordex SE to Cut Jobs in Dongying, China
Nordex SE announced that it will reduce the work force by around 130 positions at its rotor blade production facility in Dongying. In doing so, it is responding to the declining capacity utilisation at its Chinese rotor blade production facility and the losses sustained in China. Full Article
Nordex SE Receives Contract for Delivery and Installation of Wind Farm in South Africa
Nordex SE announced that its South African business has been awarded a contract for the delivery and installation of an 80 Megawatt (MW) wind farm. Under the contract, Nordex will be supplying the "Red Cap Kouga" wind farm on a turn-key basis. Scheduled to commence in April 2013, the work includes the construction of the foundations and road access as well as cabling and the transformer station. In a next step, Nordex will be supplying 32 N90/2500 strong-wind turbines and installing them at the coastal site, which is characterized by mean wind speeds of approximately 9 m/s. The customer and ultimate operator of the Kouga project is Red Cap Kouga Wind Farm Pty. The owners of this project development company include various corporations and public institutions committed to regional economic development in South Africa. Financial details were not disclosed. Full Article
Nordex SE Updates on FY 2012 Sales and EBIT Margin Guidance
Nordex SE announced that its Management Board continues to expect sales of between EUR 1.0 billion and EUR 1.1 billion and EBIT margin of approximately 1% for the fiscal year 2012. According to I/B/E/S Estimates, analysts on average are expecting the Company to report fiscal year 2012 revenue of EUR 1,047.33 million. Full Article
Nordex SE to Enter South African Market
Nordex SE announced that it has entered the South African market. South African wind power producer, Dorper Wind Farm (RF) Pty Ltd, whose sponsors are South African based wind project developer Rainmaker Energy, through its subsidiary Dorper Wind Development (Pty) Ltd, and its Japanese partner Sumitomo Corporation, through its wholly-owned subsidiary, have selected Nordex as supplier for the delivery and turn-key installation of a 100 MW wind farm to be known as "Dorper". Nordex will be commencing the construction work in the month of November 2012, followed by the installation of the 40 N100/2500 turbines from the third quarter of 2013 onwards. The order also includes a service contract for an initial period of ten years. Full Article
Nordex SE to Install Suckow Wind Farm
Nordex SE announced that it has been awarded a contract to install the Suckow wind farm. Located in the shire of Ludwigslust-Parchim in the German state of Mecklenburg-West Pomerania, the wind farm will comprise thirteen N100/2500 turbines with a combined output of 32.5 MW. The project has been planned by Loscon Engineering GmbH. The operator and final customer is SuedWestStrom Windpark Suckow GmbH (SuedWestStrom). Nordex will be installing the first turbines by the end of 2012, with the entire wind farm scheduled for completion in spring 2013. With a rotor sweep of 7,854 square meters, the N100/2500 turbines will generate high yields at the site even in low to moderate wind speeds. Financial terms of the deal were not disclosed. Full Article
UPDATE 1-Nordex says still in talks for a partner in China
* Aims to generate small net profit this year - CFO (Adds details from press conference, background on China)
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