Nordex Group Nordex SE Investor Factbookir.nordex-online.com/download/companies/nordex/Company... · 04/2016 ›Main shareholder Acciona S.A. (36.41%) ›Revenues 2019: Around EUR

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© Nordex 2020

Nordex Group

Nordex SE – Investor FactbookAugust - October 2020

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© Nordex 2020

Experienced management team

2 Nordex SE – Investor Factbook

José Luis BlancoCEO

› CEO Acciona Windpower

› Various Senior Management & Chief Officer positions at Gamesa

› CFO Siemens Wind Power Offshore

› Various other positions at Siemens

› BHF Bank, EBRD

Christoph BurkhardCFO

› Business Development Director and Executive Committee member at Acciona Windpower

› Various Chief Officer positions at Acciona

Patxi LandaCSO

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© Nordex 2020

Agenda


1 Company overview & business model

2 Products & markets

3 Financials

4 Nordex share

5 Sustainability

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© Nordex 2020

Investment Case


Global

Global player with strong presence in all volume and growth markets for onshore wind energy

COE

Competitive and COE-driven product portfolio covers

all regions and market conditions

Onshore

Onshore wind energy is the key technology for the irrevocable transition

to renewable energy

Shareholder

Strong anchor shareholder supports growth strategy

Team

Experienced managementand outstanding team

Strategic drivers

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© Nordex 2020

Nordex and Acciona Windpower created a top 4 global player


Market focus

Customer focus

Product focus

Technology focus

Emerging markets

Large developersand IPPs

Projects without land constraints

Concrete towers

Europe

Small & medium-sized customers

Complex and land constrained projects

Blades

+

+

+

+

=

=

=

=

Truly global

Broad customer base

Different projects

Complementary technologies

Nordex AWP Nordex Group

Creating a stronger and more competitive

company

A strong fit benefitting from complementary approaches

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© Nordex 2020 © Nordex 2019 | 25. August 2020 |

|6 Company overview & business model

› Global manufacturer of wind energy systems focused on turbines in the 2-5 MW class

› WTG variants for different wind and climate conditions, addressing the requirements of developed as well as emerging markets

› Production sites in Germany, Spain, Brazil, India, USA (mothballed), Argentina and Mexico

› Headquarter in Hamburg; subsidiaries for sales and service in all core markets

› Listed company in the German TecDaxand SDAX

› Founded 1985 in Denmark, IPO in 2001

› Merger with Acciona Windpower (AWP) in 04/2016

› Main shareholder Acciona S.A. (36.41%)

› Revenues 2019: Around EUR 3.3bn

› Installations of more than 29 GWin over 40 countries

Nordex – a pioneer in wind with more than 30 years of experience

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© Nordex 2020

Installation track record of Nordex


MORE THAN 29,537 MW INSTALLED WORLDWIDE

SPAIN

FRANCE

PORTUGAL

ITALY

CROATIA

GREECE

UK

2,094 MW

2,412 MW

423 MW

754 MW

215 MW

191 MW

1,468 MW

937 MW

4,564 MW

461 MW

12 MW

100 MW

8 MW

23 MW

5 MW

IRELAND

GERMANY

POLAND

CZECH REPUBLIC

ROMANIA

BULGARIA

LUXEMBOURG

AUSTRIA

NORWAY

SWEDEN

FINLAND

DENMARK

BELGIUM

NETHERLANDS

ESTONIA

LITHUANIA

190 MW

537 MW

641 MW

152 MW

93 MW

517 MW

18 MW

70 MW

ARGENTINIA

CANADA

USA

MEXICO

COSTA RICA

PERU

COLOMBIA

BRAZIL

URUGUAY

CHILE

360 MW

203 MW

4,782 MW

1,172 MW

50 MW

132 MW

20 MW

1,308 MW

309 MW

288 MW

TURKEY

PAKISTAN

INDIA

CHINA

JAPAN

SOUTH KOREA

AUSTRALIA

EGYPT

SOUTH AFRICA

OTHERS (ROW)

2,135 MW

300 MW

78 MW

1,053 MW

73 MW

65 MW

371 MW

63 MW

563 MW

330 MW

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© Nordex 2020

Nordex achieved global top 4 in 2019


MARKET SHARES (BASED ON MW INSTALLED)

Europe

placed 4th

Americas

placed 4th

Asia pacific(excl. China)

No installations in 2019

Global(excl. China)

placed 4th

NordexGroup

11.5%

NordexGroup

7.3%

NordexGroup

7.6%

Others

Source: Wood Mackenzie Global Wind Power Project Installation Database (2020)

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© Nordex 2020

Long history as one of the pioneers in onshore wind industry


First company worldwide to produce a MW-classturbine

1995

Founding of Nordexin Denmark

1985

Installation of the 100th Nordexturbine

1999

Installation of the 2000th Nordex turbine

2003

Commencement of industrial rotor blade production

2001

Completion of the world’s first series multi-MWturbine

2000

First AW 60/1300prototype

2000

Opening of the wind turbine assembly in Barásoain, Spain

2003

Start of the seriesproduction of the AW 1500

2005

Opening of production facility in US

2007

Introduction of the AW 3000

2008

Launch of Gamma generation

2010

Industrial Implementation in Brazil with the opening of hub production plant

2013

Launch of Delta generation

2013

More than 2000 MW of the AW 3000 platform sold

2014

Nordex and AccionaWindpower become one company

2016

Opening of first assembly plant in India

2016

Launch of 4 MW product series Delta4000

2017

Launch of N133/4.8 for strong wind sites

2018

Launch N155/4.5Entry into the 5 MW ClassLaunch N149./5.X andN163./5X

2019

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© Nordex 2020

Value chain - Nordex core business


MORE THAN A MANUFACTURER.

CivilWorks

Electrical Infrastructure

Installation & Commissioning

ServiceTurbineDelivery

ProjectDevelopment

› Selection of location

› Ownership

› Optimal siting

› Wind measurements

› Soil survey

› Sound/shade emission

› Economic viability

› Grid connection

› Special purpose registration

› Environmental permitting

› Building permitting

Project Development

Wind Farm System Planning

Production and Technical Implementation

Wind Farm Operations

Services and Maintenance

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© Nordex 2020

Strategy further strengthens our competitive position


We are:

We focus on:

We deliver:

Sustainable | Global | COE Leader

Leading global onshore wind turbine supplier

COE | Speed | Flexibility

Global market presence

COE optimized product portfolio

Supply chain transformation

Operational cost efficiencies

Servicebusiness

1 2 3 4 5

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© Nordex 2020

Production footprint supports international supply chain and demand


GOOD GEOGRAPHICAL FIT FOR PRODUCTION TO SERVE GLOBAL DEMAND.

Brazil›Nacelle›Blade›Tower (2x)

India›Nacelle›Tower›Blade

Germany›Nacelle›Blade

Spain›Nacelle›Blade›TowerMexico

›Tower›Blade

Argentina›Nacelle›Tower (3x)

Chile›Tower

South Africa›Tower

China›Smart Logistics›Blade (2x)

Turkey›Blade

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© Nordex 2020

Nordex operates lean and flexible business model


Third party Partially in-house Key focus/in-house

Turbine development, production, projects and logistics

Turbine Research & Development

Componentdevelopment and

manufacturing

Turbine assembly

Project Management and Logistics

Asset light business model in value chain

Focus on core competencies by outsourcing parts of value

chain

Wind farm development and operations

Project development

Wind farm owners

Operation and maintenance

Balanced vertical integration allows Nordex to manage capital commitment efficiently and retain a flexible business model

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© Nordex 2020

Agenda




3 Financials

4 Nordex share

5 Sustainability

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© Nordex 2020

Development of product portfolio & pipeline

Competitive portfolio for all different sites

Products & markets

Lightwind

Mediumwind

Strongwind

4MW+

3MW+

2MW+

N131/3000-3900

N117/3000-3600

N100/3300

AW125/3000-3150

AW132/3000-3465

AW140/3000

AW148/3000

AW116/3000

N90/2500

N100/2500

N117/2400

N133/4.8

N149/4.0-4.5 incl. 4.8 mode

N163/5.x

N149/5.x

today 2022+

Gamma

Delta

Delta4000

AW

N155/4.5 Future focus of productdevelopment

Phase-out of Gamma platformin preparation

Phase-out of 3MW Deltaplatform in preparation

Continuous CoEimprovementsfor low wind sites

One platform with marketspecific derivatives

5MW

Site dependent

15

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© Nordex 2020

N149/5.X – Key facts


N149/5.X

proven Delta4000 product series“Staged Approach” philosophy

149m rotorproven blade of N149/4.0-4.5

>5MW ratingutilizing site potential

IEC S classup to IEC A

suitable in core low-to-medium wind speed sites

104.8 dB(A) @ 5.5 MW

+ numerous sound modes

lifetime extension up to 25 yearsStandard design lifetime of 20 years

Nacelle dimensions remain unchanged to N149/4.0-4.5

WTG design purely focused on lowest possible COE

only 5 MW+ WTG based on proven platform

first contracts already signed (major order of 400

MW from Norway received in March 2020)

up to 164m hub heightssite-specific towers

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© Nordex 2020

N163/5.X – Key Facts


N163/5.X

Same nacelle as N149/5.X163m rotor

>5MW ratingutilizing site potential

IEC S class

various site-specific towersup to 164m hub height

numerous sound modes

lifetime extension up to 25 yearsStandard design lifetime of 20 years

WTG design purely focused on lowest possible COE

Single-piece bladebased on N149 design

Suitable in core low-to-medium wind speed sites

+20% AEP (Annual Energy Production)(vs. N149/4.0-4.5)

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© Nordex 2020

Global service network with more than 21 GW under contract


NorthAmerica

3.9 GW

Rest of World

2.6 GW

Brazil

1.3 GW

E. Europe, Turkey& Mid East

3.0 GW

EUNordics

1.2 GW

EUMediterranean

3.3 GW

India &

Australia

0.1 GW

EUCentral

3.6 GW

EUUK & Ireland

2.2 GW

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© Nordex 2020

Service portfolio: Nordex service makes the difference


On-site Off-site

Trouble Shooting & Repair

›Onsite repair & troubleshooting

›Exchange & overhaul of major components

Upgrades &Modernizations

› Products to enhance the performance of the installed fleet

Training

›Uniform qualification of all service technicians worldwide

Spare Parts Management

›Worldwide supply of spare parts, 365 days a year

Digital and DataAnalytics

›Driving digital change, remote diagnostics & predictive maintenance.

Maintenance & Inspections

›Maintenance

›HSE inspections

Monitoring & Technical Support

›24/7 Control Centre

›Support for technical issues

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© Nordex 2020

Wind will be a prominent source as global energy production rises


Strong, continuous growth of onshore wind in the medium term expected

World energy production is rising…

Electricity generation by region ( PWh)

OECD countries

European Union

US

China

India

Others

… with onshore wind as a major contributor

Cumulative global installed capacity by source (GW)

2018

2035

528

22

526

258

Onshore Wind

Offshore Wind

Conventional Sources

PV

Other Renewables

3,630

2,180

1,451

1,831

4,365

4,731

+313%

+8%0

5.000

10.000

15.000

20.000

25.000

30.000

35.000

40.000

20202012 2015 2025 2030 2035

+39%

Source: Bloomberg New Energy Finance, New Energy Outlook 2019, as of Jun-2019Conventional sources include nuclear, coal, gas and oil capacitiesOther renewables include geothermal, hydro and others

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© Nordex 2020

Global demand for electricity continues to grow and will increasingly be met by renewables


Global renewable electricity generationKey drivers of trend

› Global demand for electricity will grow by almost 62% until 2050:

In non-OECD countries, power demand is expected to double

Most of the growth comes from large, rapidly expanding economies, especially China and India

In OECD countries, demand will be flat or even negative, reflecting a combination of improved energy efficiency, modest economic expansion, and retreat from energy-intensive industries

These dynamics are slightly offset by the increasingly important role of electric vehicles

› Cheap renewable energy and batteries fundamentally reshape the electricity system

› A total of USD 13.3 trillion will be invested in new power generating capacity between 2018 and 2050, with over 83% going to renewables 0

5

10

15

20

25

30

2018 2050e

PWh

2035e

3.1

7.2

17.9

26.4

6.8

8.8+4%

Cumulative renewable electricity generation in China and India

non-OECD countries

2.3

7.2

10.3

OECD countries

Source: BNEF NEO 2019

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© Nordex 2020

Agenda




3 Financials

4 Nordex share

5 Sustainability

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© Nordex 2020

Executive summary

23 Financials

H1/2020 RESULTS

Sales

EUR 2,048m

EBITDA margin

-3.5%

Working capital ratio

-7.1%

› State-guaranteed revolving credit facility of EUR 350m closed on August 6th protecting Nordex Group against the effects and

remaining uncertainties caused by the Covid-19 pandemic.

› In the context of the new facility, the refinancing of the promissory notes (Schuldscheindarlehen) of EUR 215m due in April 2021 has already been secured.

› Potential sale of Nordex European project development pipeline to RWE for EUR 403m with closing expected in Q4/2020.

› Successful refinancing of multi-currency guarantee facility of EUR 1.21bn already completed in April 2020.

› Order intake with a volume of 2,532 MW in H1/2020 dominated by latest turbine generation Delta4000 attributable to around 79% of the order intake.

› Strong sales number of EUR 2,048m in H1/2020 due to high activity level despite Covid-19.

› Results in H1/2020 influenced by extraordinary costs due to Covid-19 impact.

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© Nordex 2020

Order intake H1/2020

24 Financials

Order intake turbine* (in MW) Order intake turbine* by regions (in %)

› Order intake in H1/2020: EUR 1,806m (EUR 2,112m in previous year period)

› Stable ASP of EUR 0.71m/MW in first half-year 2020

› Largest orders come from Norway, Spain, Great Britain, Chile, Brazil and Turkey in H1/2020

› Share of latest turbine generation Delta4000 was 65% in Q2/2020 and 79% for the first half-year 2020

2,532

3,038

H1/2020H1/2019

-17%

20%21%

37%

80%

37%

0%

0%

H1/2019

5%

H1/2020

Europe RoWLatin AmericaNorth America

*Group segment „Projects“

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© Nordex 2020

Growing service business

Financials

Share of fleet under contract (as % of installed base)

Comments

EBIT margin

25

Development of service revenues (EUR m) and EBIT margin

181.6

H1 2019

209.6

H1 2020

+15%

17.3% 16.7%› Service sales share amounted to 10.2% of group sales

in the first half-year 2020

› Service EBIT margin of 16.7% in the first six months 2020

› 97.6% average availability of WTGs under service

› Service order backlog stands at over EUR 2.7bn at the end of Q2/2020

72%

28%

Installedbase:

29.5 GW Thereof:69% Nordex WTGs31% AWP WTGs

under contract

not under contract

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© Nordex 2020

Combined order backlog of over EUR 8bn at the end of H1/2020

26 Financials

Order backlog turbines (EUR m) Order backlog service (EUR m)

› Order backlog of EUR 5,367m at the end of Q2/2020 reflects high order intake over the last quarters

› Well balanced geographical footprint on Nordex focus markets: Europe (64%), Latin America (17%), North America (11%), Rest of World (8%)

› 8,257 wind turbines under service corresponding to 21.3 GW at the end of Q2/2020

H1/2019 H1/2020

5,271 5,367

+2%

2,299

H1/2019 H1/2020

2,704

+18%

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© Nordex 2020

Operations H1/2020

27 Financials

Installations (MW) Production

› Total installations of 662 WTGs in 21 countries in H1/2020 (H1/2019: 242 WTGs)

› Geographical split: 45% Europe, 17% Latin America, 32% North America and 6% Rest of World

› Output turbines of 787 units in H1/2020: 392 GER, 247 ESP, 96 IND, 42 BRA and 10 ARG

› Inhouse blade production of 623 units in H1/2020: 351 GER, 142 IND, 123 MEX and 7 ESP

› Outsourced blade production of 1,215 units in the first half-year 2020

H1/2019

2,287

H1/2020

778

+194%

2,948

1,735

H1/2019 H1/2020

+70%

Turbine assembly (MW)

659

H1/2019 H1/2020

623

-5%

Inhouse blade production (#)

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© Nordex 2020

Comprehensive financing structure successfully closed

28 Financials

› Three-year extension of EUR 1.21bn multi-currency guarantee facility (MGF) wasclosed on April 9th

› RCF of EUR 350m backed by German State guarantee covering 90% was closed on August 6th

› RCF provided by a consortium of nine lenders was significantly oversubscribed

› Refinancing of promissory notes (Schuldscheindarlehen) of EUR 215m due in April 2021 has been secured in the context of the state-guaranteed RCF

› MGF and RCF contain an ESG component and fit seamlessly into the company`s sustainable financing structure

Participating Lenders Recent financing activitiesDetails Revolving credit facility (RCF)

Amount: 350m EUR

Duration: 30th April 2022

Number of banks: 9

Purpose: • General corporate purposes• Cash drawings

Security: • Unsecured• Pari-passu

ESG rating provider: ISS ESG

ESG company rating: B

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© Nordex 2020

Income statement H1/2020

29 Financials

Comments

› Strong sales of EUR 2,048m in the first six months 2020

› EBITDA margin of -3.5% reflects Covid-19 impact

› Covid-19 mainly lead to major production stops and site interruptions causing significant cost increases

› FY impact of Covid-19 cannot be assessed at this point in time

in EUR m H1/2020 H1/2019 abs. change

Sales 2,047.9 990.8 1,057.1

Total revenues 1,990.0 1,603.6 386.4

Cost of materials -1,702.3 -1,300.8 -401.5

Gross profit 287.6 302.8 -15.2

Personnel costs -203.2 -172.9 -30.3

Other operating (expenses)/income -155.2 -112.8 -42.4

EBITDA -70.8 17.1 -87.9

Depreciation/amortization -75.6 -67.3 -8.3

EBIT -146.4 -50.2 -96.2

Net profit -180.0 -55.4 -124.6

Gross margin* 14.0% 30.6%

EBITDA margin -3.5% 1.7%

EBIT margin w/o PPA -6.5% -3.8%

*Gross profit in relation to sales.

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© Nordex 2020

Balance sheet H1/2020

30 Financials

Comments

› Cash position of EUR 334m at the end of H1/2020 (EUR 396m H1/2019) reflecting successful Covid-19 mitigation management

› The shifts between non-current and current liabilities largely relate to the reclassification of the promissory note (SSD) of EUR 215m due in 04/2021

› The refinancing of EUR 215m promissory notes due in April 2021 has already been secured in the context of the state-guaranteed RCF

in EUR m 30.06.20 31.12.19 abs. change Δ in %

Non-current assets 1,457.5 1,488.9 -31.4 -2.1

Current assets 2,566.0 2,513.8 52.2 2.1

Total assets 4,023.5 4,002.7 20.8 0.5

Equity 554.9 745.4 -190.5 -25.6

Non-current liabilities 640.1 914.2 -274.1 -30.0

Current liabilities 2,828.5 2,343.2 485.3 20.7

Equity and total liabilities 4,023.5 4,002.7 20.8 0.5

Net debt* -241.4 -84.0

Working capital ratio** -7.1% -9.1%

Equity ratio 13.8% 18.6%

*Cash and cash equivalents less bank borrowings and bond. **Based on last twelve months sales.

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© Nordex 2020

Working capital development H1/2020

31 Financials

Working capital ratio (in % of sales)* Working capital development (in EUR m)*

-4.7

Q1/2020

Q3/2019

Q2/2019

Q4/2019

Q2/2020

-5.2

-9.1

-7.5-7.1

› Absolute working capital in Q2/2020 improved compared to the end of previous quarter

› Working capital ratio increased due to higher sales

› Working capital remains stable compared to YE 2019 reflecting success of short-term Covid-19 mitigation actions

-289-307

76

Prepay-ments

Inven-tories

Q1/2020

Receiva-bles

Q2/ 2020

30

42

82

Pay-ables

*Based on last twelve months sales.

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© Nordex 2020

Cash flow statement H1/2020

32 Financials

Comments

› Cash flow from operating activities reflecting the negative net result partly compensated by cash inflows from VAT phasing effects

› Cash flow from investing activities reflects further expansion of supply chain management

› Cash flow from financing activities primarily driven by repayment of EIB and other short-term loans

in EUR m H1/2020 H1/2019

Cash flow from operating activities before net working capital

-74.2 -123.7

Cash flow from changes in workingcapital

6.2 23.1

Cash flow from operating activities -68.0 -100.6

Cash flow from investing activities -69.0 -60.7

Free cash flow -137.1 -161.3

Cash flow from financing activities -24.1 -50.6

Change in cash and cash equivalents -161.1 -211.9

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© Nordex 2020

Total investments in H1/2020

33 Financials

CAPEX (in EUR m) Comments

› Investments in H1/2020 primarily comprise:

• Investments in blade production facilities in Mexico and India

• Investments in tooling and equipment for international projects

• Investments in product development

› Slight decrease in intangible assets due to lower level of development costs compared to previous year period

47.1

13.1

H1/2019

67.3

11.8

H1/2020

60.2

79.1

31.4%

Intangible assets

Property, plant, equipment

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© Nordex 2020

Capital structure H1/2020

34 Financials

Net debt*/EBITDA** Equity ratio (in %)

› Due to low EBITDA and decreased cash level compared to Q1/2020 both impacted by Covid-19 the leverage ratio increased

› Equity ratio decreased in Q2/2020 due to negative net result

-1

0

1

2

3

4

5

6

7

Q3/2019

2.5

Q2/2019

Q4/2019

2.2

0.7

Q1/2020

1.2

6.7

Q2/2020

10

15

20

25

30

Q2/2019

17.4

Q1/2020

15.5

Q3/2019

18.617.3

Q4/2019

13.8

Q2/2020

*Cash and cash equivalents less bank borrowings and bond. ** Based on last twelve months.

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© Nordex 2020

Debt maturity profile of Nordex Group

35 Financials

(in EUR m)

13 13 3 70

50

100

150

200

250

300

350

2026202120202019 20242022 2023 2025

228

56

307

EIB BondSSD fix SSD var

› SSD maturity of EUR 43.5m was fully repaid out of cash in April 2019.

› Major upcoming debt maturities in Q2/2021 (SSD) and 2023.

› All Nordex debt instruments well within its covenant thresholds.

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© Nordex 2020

Impact of Covid-19 pandemic on Nordex business performance

36 Financials

• Covid-19 pandemic started in China causing disruptions globally

• Shutdowns and restrictions impacting value chain at different stages and at different times

• Travel and transport restrictions limiting mobility for people as well as for goods

• Increasing demand of green energy expected for the time post Covid-19

Clear focus on working capital and cash flow management

Health & safety of all Nordex employees and business partners is top priority

Ensure business continuity at all possible options

Global cross-functional Covid-19 taskforce established to assess the

situation continuously

Strong focus on supply chain continuity

Management priorities Impact on NordexGlobal environment

• Reduced capacity utilization due to temporary shutdowns (e.g. Mexico)

• Higher costs related to disruptions in project execution

• Delays in installations leading to an increase of inventories

• Negotiations with customers and suppliers on Liquidated Damages (LD) and prolongation costs

• Delays in ramping up and enlarging the supply chain

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© Nordex 2020

Key takeaways

37 Financials

Order momentum expected to remain strong in H2/2020 with continuously high share of new turbine generation Delta4000.

Comprehensive financing structure in place in order to protect the company against the effects and remaining uncertainties caused by Covid-19 pandemic.

Covid-19 impact on further business performance in FY 2020 cannot finally be assessed at this point in time.

Potential sale of 2.7 GW project development pipeline to RWE will strengthen Nordex capital structure and support growth trajectory.

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© Nordex 2020

Agenda




3 Financials

4 Nordex share

5 Sustainability

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© Nordex 2020

Stable shareholder structure & good market coverage

39 Nordex share

Shareholder structure Analyst coverage

Key figures:*

› Number of shares: 106,680,691

› Share price: EUR 10.67

› Market capitalization: EUR 1,138m

Consensus of 14 analysts:**

› Ø Share price: EUR 12.00

› Ø 2020 Revenues (e): EUR 4,290m

› Ø 2020 EBITDA margin (e): 4.1% (adj. 2.6%***)

Freefloat

36.41%

Acciona S.A.

63.59%

Hold

8

Sell

Buy

5

1

*As of 21 August 2020** Nordex own consensus as of 18 August 2020*** EBITDA margin adjusted by the expected proceeds from the planned sale of Nordex European project pipeline to RWE

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© Nordex 2020

Nordex share price development (Jan 2019 – 24 August 2020)

40 Nordex share

Volatility of share price is mainly driven by transformation phase of industry and company

March 2019 May 2019 July 2019 Sept. 2019 Nov. 2019 Jan. 2020 March 2020 May 2020 July 2020

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© Nordex 2020

Strong and committed anchor shareholder

41 Nordex share

› Holding company with a presence in over 40 countries that invests, develops and operates infrastructure, with a particular emphasis on renewable energy

› Group operates through three main business segments:

› Infrastructure: Covers construction activities, industrial activities, concessions, water and services

› Energy: Includes activities ranging from construction ofwind farms to generation and distribution

› Other: Deals with businesses relating to fundmanagement and stock market brokerage, wineproduction, real estate business and otherinvestments

Key facts FY 2019:

› Market capitalization: c. €5.2bn

› Revenue: €7.2bn

› EBITDA: €1.4bn

› Established track record across Debt and Equity Capital Markets

› Entrecanales family as main anchor shareholder holding over 50%, free float c. 39%

Continuously strong commitment to strategic investment into Nordex recently underpinned by €99m capital increase in October 2019

› Long-term supportive shareholder since merger of wind turbine business into Nordex in 2016

› Additional liquidity facilitates expected growth due to ongoing demand for Delta4000 platform

› Commitment of anchor shareholder proves Nordex’ path of profitable growth

› Acciona Group profile / strategy › Recent support for Nordex

1

2

3

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© Nordex 2020

Agenda




3 Financials

4 Nordex share

5 Sustainability

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© Nordex 2020

Sustainability strategy 2019 to 2021

43 Sustainability

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© Nordex 2020

Sustainability key facts

44 Sustainability

Product

Lifecycle assessment of wind farm with Delta4000 turbines shows:

only 6.4 g CO2e

are emitted per kilowatt-hour electricity generated

A single Nordex large-scale turbine1 covers the average annual electricity demand of about

3,000

four-person households2.

474 g of CO2

are saved per kWh generated by wind turbines (compared to the German electricity mix 20183).

Projection for one Delta4000 at medium wind speed: savings of approx.

6,300 t CO2 per year.

Employees

Lost time injury frequency (LTIF) lowered to

4.6 in FY 2019 (FY 2018: 5.6)

73

nationalities were working at Nordex in FY 2019

Environment

73.5%

of the overall amount of purchased electricity in 2019 was generated by the use of

renewables

1 Reference: N149/4.0-4.5, medium wind speed of 6.5m/s, excl. losses. 2 https://www.musterhaushalt.de/durchschnitt/stromverbrauch/ average electricity demand of 4,432 kWh per year.3 https://www.umweltbundesamt.de/sites/default/files/medien/1410/publikationen/2019-04-10_cc_10-2019_strommix_2019.pdf.

ESG-Rating

ISS-ESG (B), MSCI (A), SUSTAINALYTICS (25.8), CDP (C) and IMAG (AA)

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© Nordex 2020

Financial calendar 2020*

45

2020* Event

9 March Publication of preliminary figures FY 2019

24 March Analyst conference / Publication of Annual Report 2019

11 May Interim Statement Q1 2020

26 May Virtual Annual General Meeting

13 August Interim Report H1 2020

13 November Interim Statement Q3 2020

*Subject to change

Nordex SE – Investor Factbook

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© Nordex 2020

Disclaimer


› All financial figures within this presentation are unaudited.

› This presentation was produced in August 2020 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 securities or an invitation to buy or otherwise acquire securities in the Federal Republic of Germany or any other jurisdiction. In particular it is not intended to be an offer, an investment recommendation or a solicitation of an offer to anyone in the U.S., Canada, Japan and Australia or any other jurisdiction. This presentation is confidential. Any reproduction or distribution of this presentation, in whole or in part, without Nordex SE’s prior written consent is expressly prohibited.

› This presentation contains certain forward-looking statements relating to the business, financial performance and results of Nordex SE and/or the industry in which Nordex SE operates, these statements are generally identified by using phrases such “aim”, “anticipate”, “believe”, “estimate”, “expect”, “forecast”, “guidance”, “intend”, “objective”, “plan”, “predict”, “project”, and “will be” and similar expressions. Although we believe the expectations reflected in such forward-looking statements are based upon reliable assumptions, they are prepared as up-to-date and are subject to revision in the future. We undertake no responsibility to update any forward-looking statement. There is no assurance that our expectations will be attained or that any deviations may not be material. No representation or warranty can be given that the estimates, opinions or assumptions made in, or referenced by, this presentation will prove to be accurate.

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© Nordex 2020

Contact details

47

IF YOU HAVE ANY QUESTIONS PLEASE

CONTACT THE INVESTOR RELATIONS TEAM:

Felix Zander

Tobias Vossberg

Rolf Becker

Nordex SE

Langenhorner Chaussee 600

22419 Hamburg

Germany

Phone: +49-40-30030-1000

Email: [email protected]

Web: www.nordex-online.com

Nordex SE – Investor Factbook

Nordex Group Nordex SE Investor Factbookir.nordex-online.com/download/companies/nordex/Company... · 04/2016 ›Main shareholder Acciona S.A. (36.41%) ›Revenues 2019: Around EUR

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