OFFERING MEMORANDUM Global Offering of up to ... - Nordex

Selected Financial Data of the Nordex Group
The following overview of selected financial data of the Nordex Group should be read in
conjunction with the section ‘‘Management’s Discussion and Analysis of Financial Condition and
Results of Operations’’ and the financial data contained in the ‘‘Financial Information’’ of this
Offering Memorandum, which contain more detailed information. The selected financial data is
based on the IAS Pro Forma Consolidated Financial Statements and the IAS Pro Forma
Consolidated Interim Financial Statements, each of which have been prepared in accordance
with International Accounting Standards (‘‘IAS’’). BDO Deutsche Warentreuhand
Aktiengesellschaft audited the Company’s IAS Pro Forma Consolidated Financial Statements
and issued these with an audit opinion. BDO Deutsche Warentreuhand Aktiengesellschaft
reviewed the IAS Pro Forma Consolidated Interim Financial Statements prepared by the Company
as of December 31, 2000. Due to the migration of the Company’s IT systems to SAP R3, the
comparative figures as of December 31, 1999 contained in these IAS Consolidated Financial
Statements are based solely on the Company’s subsequent statistical records. These comparative
figures were not reviewed by BDO Deutsche Warentreuhand Aktiengesellschaft. The historical
results presented only provide a limited indication of the results which can be expected in the
future since Nordex has only existed in its current legal form for a short time and the statements
were thus prepared on the basis of assumptions (see ‘‘Management’s Discussion and Analysis of
Financial Condition and Results of Operations – Companies included in the consolidation’’ and
‘‘Risk factors – Reorganization of the Nordex Group’’).
Income statement
September 30,
1998
IAS Pro Forma Consolidated
Financial Statements as of
September 30,
1999
(audited)
September 30,
2000
thousands of euro (E)
IAS Pro Forma
Consolidated
Interim Financial
Statements as of
December 31,
2000
(unaudited,
reviewed)
Net sales 82,477 223,743 272,670 63,004
Total operating performance 85,260 232,624 270,191 69,129
Cost of materials 66,594 188,880 203,777 50,766
Personnel expenses 6,000 12,751 19,206 5,695
Interest and similar expenses 406 989 3,381 954
Profit from ordinary operations 2,481 10,123 10,349 1,005
Balance sheet
Fixed assets 4,479 12,822 21,447 41,803
Current assets 24,873 86,954 129,785 125,536
Total assets 29,395 81,994 153,101 169,847
Equity 7,146 12,663 16,014 37,134
Current liabilities and accruals
(Maturity up to 1 year) 21,574 65,708 133,966 129,422
Long-term accruals and liabilities 0 720 316 0
Other financial obligations, (Maturity 1-5 years) 797 2,750 2,178 1,135
Earnings per Share
The Company was founded on August 25, 2000 and was entered in the commercial register on
September 19, 2000. Under the assumption that 34,050,000 bearer shares had already been issued at
the beginning of the fiscal year 1997/1998, the earnings per share would have been as follows:
Fiscal year 1997/
1998
Fiscal year 1998/
1999
Fiscal year 1999/
2000
Net profit in E millions 1.60 6.53 6.43
Number of Nordex AG’s shares 34,050,000 34,050,000 34,050,000
Earnings per share in E 0.05 0.19 0.19
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