Nordex SE – Investor Factbook
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› Classification: Public | Nordex Group Nordex SE – Investor Factbook © Nordex 2020 › Classification: Public 2 | Nordex SE – Investor Factbook Experienced management team José Luis Blanco Christoph Burkhard Patxi Landa CEO CFO CSO › CEO Acciona Windpower › CFO Siemens Wind Power › Business Development Director Offshore and Executive Committee › Various Senior Management member at Acciona Windpower & Chief Officer positions at › Various other positions Gamesa at Siemens › Various Chief Officer positions at Acciona › BHF Bank, EBRD © Nordex 2020 › Classification: Public 3 | Nordex SE – Investor Factbook Agenda 1 Company overview & business model 2 Products & markets 3 Financials 4 Nordex share 5 Sustainability © Nordex 2020 › Classification: Public 4 | Company overview & business model Investment Case Strategic pillars Global COE Onshore Global player with strong Competitive and COE-driven Onshore wind energy presence in all volume product portfolio covers is the key technology for and growth markets for all regions and the irrevocable transition onshore wind energy market conditions to renewable energy Shareholder Team Strong anchor shareholder Experienced management supports growth strategy and outstanding team © Nordex 2020 › Classification: Public 5 | Company overview & business model Nordex and Acciona Windpower created a truly global player A strong fit benefitting from complementary approaches Nordex AWP Nordex Group Market focus Europe + Emerging markets = Truly global Small & medium-sized Large developers Customer focus + = Broad customer base customers and IPPs Complex and land Projects without Product focus + = Different projects constrained projects land constraints Complementary Technology focus Blades + Concrete towers = technologies Creating a stronger and more competitive company © Nordex 2020 › Classification: Public 6 | Company overview & business model Nordex – a pioneer in wind with more than 30 years of experience › Global manufacturer of wind energy › Listed company in the German TecDax systems focused on turbines in the 2-5 and SDAX MW class › Founded 1985 in Denmark, IPO in 2001 › WTG variants for different wind and climate conditions, addressing › Acquisition of Acciona Windpower (AWP) the requirements of developed as well in 04/2016 as emerging markets › Main shareholder Acciona S.A. (36.41%) › Production sites in Germany, Spain, Brazil, India, USA, Argentina and Mexico › Revenues 2019: Around EUR 3.3bn › Headquarter in Hamburg; subsidiaries › Track record of more than 28 GW for sales and service in all core markets in over 40 countries © Nordex 20202019 | 6. April 2020 | › Classification: Public 7 | Company overview & business model Where we are – track record of Nordex MORE THAN 28,132 MW INSTALLED WORLDWIDE SPAIN 1,993 MW IRELAND 855 MW NORWAY 190 MW FRANCE 2,253 MW GERMANY 4,490 MW SWEDEN 514 MW PORTUGAL 421 MW POLAND 461 MW FINLAND 512 MW ITALY 745 MW CZECH REPUBLIC 12 MW DENMARK 152 MW CROATIA 57 MW ROMANIA 100 MW BELGIUM 80 MW GREECE 166 MW BULGARIA 8 MW NETHERLANDS 328 MW UK 1,468 MW ESTONIA 18 MW LITHUANIA 70 MW TURKEY 2,090 MW PAKISTAN 300 MW INDIA 78 MW CHINA 1,053 MW JAPAN 73 MW SOUTH KOREA 65 MW ARGENTINIA 261 MW AUSTRALIA 371 MW CANADA 203 MW EGYPT 63 MW USA 4,631 MW SOUTH AFRICA 563 MW MEXICO 1,172 MW OTHERS (ROW) 330 MW COSTA RICA 50 MW PERU 132 MW COLOMBIA 20 MW BRAZIL 1,185 MW URUGUAY 309 MW CHILE 288 MW © Nordex 2020 › Classification: Public 8 | Company overview & business model Nordex achieved global top 4 in 2019 MARKET SHARES (BASED ON MW INSTALLED) Europe Nordex Americas Nordex Group Group placed 4th 11.5% placed 4th 7.3% Asia pacific Global Nordex (excl. China) (excl. China) Group 7.6% No installations in 2019 placed 4th Others © Nordex 2020 Source: Wood Mackenzie Global Wind Power Project Installation Database (2020) › Classification: Public 9 | Company overview & business model Our history as one of the pioneers in onshore wind industry Founding First company Installation Completion Commencement Installation of Nordex worldwide of the 100th of the world’s of industrial of the 2000th in Denmark to produce Nordex first series rotor blade Nordex turbine a MW-class turbine multi-MW production turbine 2000 turbine 2003 2005 2007 1985 1995 1999 2000 2001 2003 Start of the series Opening of First AW Opening of the wind production production 60/1300 turbine assembly in of the AW facility in prototype Barásoain, Spain 1500 US Launch of Launch of Nordex and Acciona Launch of Launch N155/4.5 Gamma Delta generation Windpower become one 4 MW product Entry into the generation company series Delta4000 5 MW Class Launch N149./5.X and 2008 2013 2014 2016 2018 N163./5X 2010 2013 2016 2017 2019 More than Launch of Introduction Industrial Implementation 2000 MW of the Opening of first N133/4.8 for of the AW in Brazil with the opening AW 3000 assembly plant strong wind 3000 of hub production plant platform sold in India sites © Nordex 2020 › Classification: Public 10 | Company overview & business model What we do - Nordex core business VALUE CHAIN. MORE THAN A MANUFACTURER. Project Wind Farm Production and Technical Wind Farm Services and Development System Planning Implementation Operations Maintenance Project Turbine Civil Electrical Installation & Service Development Delivery Works Infrastructure Commissioning › Selection of location › Ownership › Optimal siting › Wind measurements › Soil survey › Sound / shade emission › Economic viability › Grid connection › Special purpose registration › Environmental permitting › Building permitting © Nordex 2020 › Classification: Public 11 | Company overview & business model Strategy roadmap further strengthens our competitive position We are: Sustainable | Global | COE Leader We focus on: COE | Speed | Flexibility 1 2 3 4 5 We deliver: Global market COE optimized Supply chain Operational cost Service presence product portfolio transformation efficiencies business 4.7 GW order intake New product Ramping up Stringent Continuously in 9M/2019 N163/5.X enlarges India and W/C-management growing with regionally well product portfolio blade production programme dedicated features balanced in Turkey implemented as predictive maintenance Leading global onshore wind turbine supplier © Nordex 2020 › Classification: Public 12 | Company overview & business model Nordex production footprint shows international supply chain GOOD GEOGRAPHICAL FIT FOR PRODUCTION TO SERVE GLOBAL DEMAND. Germany Turkey China ›Nacelle ›Blade ›Smart Logistics ›Blade ›Blade (2x) Spain ›Nacelle ›Blade Mexico ›Tower ›Tower ›Blade India ›Nacelle Brazil ›Tower ›Nacelle ›Blade ›Blade ›Tower (2x) Argentina South Africa Chile ›Tower ›Tower ›Nacelle ›Tower (3x) © Nordex 2020 › Classification: Public 13 | Company overview & business model Nordex operates a lean and flexible business model Turbine development, production, projects and logistics Asset light business model Component Project Turbine Research Turbine in value chain development and Management & Development assembly manufacturing and Logistics Focus on core Wind farm development and operations competencies by outsourcing parts of value Project Wind farm Operation and chain development owners maintenance Limited vertical integration allows company to manage capital commitment and retain a flexible business model Third party Partially in-house Key focus/in-house © Nordex 2020 › Classification: Public 14 | Nordex SE – Investor Factbook Agenda 1 Company overview & business model 2 Products & markets 3 Financials 4 Nordex share 5 Sustainability © Nordex 2020 › Classification: Public 15 | Products & markets Product portfolio with highly efficient products for all different sites Development of product portfolio & pipeline Light Medium Strong wind wind wind One platform with market specific derivatives N149/5.x 5MW N163/5.x Delta4000 N133/4.8 4MW+ N155/4.5 Future focus of product development N149/4.0-4.5 incl. 4.8 mode AW116/3000 AW125/3000-3150 Continuous CoE AW132/3000-3465 AW improvements AW140/3000 for low wind sites 3MW+ AW148/3000 N100/3300 Phase-out of 3MW Delta N117/3000-3600 Delta platform in preparation N131/3000-3900 N90/2500 Phase-out of Gamma platform 2MW+ N100/2500 Gamma in preparation N117/2400 Site dependent today 2022+ © Nordex 2020 › Classification: Public 16 | Products & markets N149/5.X – Key facts WTG design purely focused on lowest possible COE lifetime extension up to 25 years Standard design lifetime of 20 years proven Delta4000 product series 149m rotor “Staged Approach” philosophy proven blade of N149/4.0-4.5 only 5 MW+ WTG based >5MW rating on proven platform N149/5.X utilizing site potential IEC S class up to IEC A up to 164m hub heights Nacelle dimensions remain site-specific towers suitable in core low-to- unchanged to N149/4.0-4.5 medium wind speed sites 104.8 dB(A) @ 5.5 MW first contracts already signed + numerous sound modes © Nordex 2020 › Classification: Public 17 | Products & markets N163/5.X – Key Facts WTG design purely focused on lowest possible COE lifetime extension up to 25 years Standard design lifetime of 20 years 163m rotor Same nacelle as N149/5.X >5MW rating utilizing site potential IEC S class N163/5.X Suitable in core various site-specific towers low-to-medium wind speed sites up to 164m hub height numerous sound modes Single-piece blade +20% AEP based on N149 design (vs. N149/4.0-4.5) © Nordex 2020 › Classification: Public 18 | Products & markets Global service network © Nordex 2020 › Classification: Public 19 | Products & markets Service portfolio: Nordex service makes the difference On-site