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

Capitalization
The following table presents the capitalization of the Company as of September 30, 2000 and as of
December 31, 2000, in accordance with IAS.
The table should be read in conjunction with
– the sections in this Offering Memorandum entitled ‘‘Management’s Discussion and Analysis of
Financial Condition and Results of Operations’’ and
– the HGB financial statements of Taifun AG (now Nordex AG), in respect of which an audit report
was issued, the audited IAS Pro Forma Consolidated Financial Statements and the unaudited IAS
Pro Forma Consolidated Interim Financial Statements, both of which have been reviewed by the
auditors, included elsewhere in this document.
Nordex AG
HGB
(audited)
Nordex Energy
GmbH (IAS)
(unaudited)
Group
Pro Forma
(audited)
as of Sept. 30, 2000 as of Dec. 31, 2000
EUR thousand
Group
Pro Forma
(unaudited,
reviewed) As Adjusted 1
Total long-term liabilities 0 0 317 0 0
Subscribed capital 50 53 307 34,050 52,050
Capital reserves 0 6,047 6,047 3,577 147,577
Accumulated profits/losses -2 10,518 9,660 -493 -493
Equity 48 16,618 16,014 37,134 199,134
Total capital reserves 48 16,618 16,331 37,134 199,134
1
Reflects the capitalization of the Nordex Group as of December 31, 2000 as adjusted to reflect the issue of the 18 million New Shares in
the Offering, as if the Offering had occured on December 31, 2000.
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