Amidst generally weak market conditions, the Nordex Group again achieved an increase in sales in 2009 according to preliminary calculations, closing the year with a substantial net consolidated profit. Consolidated sales climbed to EUR 1,183 million (previous year: EUR 1,136 million). As expected, however, earnings before interest and taxes (EBIT) declined to EUR 40 million (previous year: EUR 63 million) due to higher structural costs. Accordingly, the personnel expense ratio widened from 6.9 percent to 9.2 percent. In the fourth quarter of 2009, Nordex achieved a EBIT margin of 5.3 percent for capacity utilization reasons on sales of EUR 369 million. Consolidated net profit for fiscal year 2009 came to EUR 24.2 million (previous year: EUR 49.5 million).
As a result, the equity ratio rose from 38 percent to around 41 percent as of the balance sheet date. At the same time, liquidity climbed by 43 percent to around EUR 160 million. Nordex was able to achieve a net cash inflow of EUR 9.6 million from operating activities primarily as a result of destocking (previous year: net cash outflow of EUR 59.5 million from operating activities).
The Management Board will be announcing the final figures for 2009 and providing an updated outlook for the current year at its annual press conference and the analyst conference in Frankfurt on April 19, 2010.