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PRESS RELEASE: Senvion plans to go public in first half of 2016 (news with additional features)




22.02.16 14:01
Dow Jones Newswires



PRESS RELEASE: Senvion plans to go public in first half of 2016 (news with additional features)





DGAP-News: Senvion GmbH / Key word(s): IPO
Senvion plans to go public in first half of 2016 (news with additional features)

2016-02-22 / 14:01
The issuer is solely responsible for the content of this announcement.

NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN OR ANY
OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL. OTHER RESTRICTIONS ARE APPLICABLE. PLEASE SEE
THE IMPORTANT NOTICE AT THE END OF THE PRESS RELEASE.

Senvion plans to go public in first half of 2016

- Planned listing of shares on the Prime Standard of the Frankfurt Stock Exchange

- Senvion to strengthen international profile and transparency, highlighting financial strengths

- Listing will improve visibility the Company as it expands into new markets

- Going public will provide access to capital markets to support growth

Hamburg: Senvion Group ("Senvion"), a leading global player in wind energy, is planning a private placement of existing
shares to institutional investors and a listing on the regulated market segment (Prime Standard) of the Frankfurt Stock
Exchange. The listing is expected for the first half of 2016, subject to market conditions.

Senvion is a leading global manufacturer of onshore and offshore wind turbines, focusing on the higher value added parts
of the value chain. Senvion's footprint is located in 20 key developed and emerging markets, including a lean
manufacturing base in Germany and Portugal. In total, Senvion has over 13.7 gigawatts ("GW") of cumulative installations
worldwide. Senvion's comprehensive portfolio of highly competitive wind turbines is suited for a wide range of locations
and wind speeds, both on- and offshore. Investment in technological leadership and R&D is a keystone of Senvion's
strategic focus. Advancements in this area have contributed to the improvement of the supply chain, operations and
reductions to the levelized cost of energy ("LCoE"). In addition to a strong manufacturing offering, Senvion has a
well-developed, growing services business, with annuity-like revenues and attractive margins. The average length of
service contracts has increased by approximately 20% since March 2012, and now exceeds ten years.

Jürgen Geissinger, CEO of Senvion, said: "Senvion has regained momentum and strategic flexibility in the past year. We
believe that gaining access to the capital markets will support our growth path, increasing the global profile of
Senvion as we expand into new markets."

For the calendar year 2015, Senvion's pro forma revenues reached EUR 2.14 billion. Its pro forma adjusted EBIT and
adjusted EBITDA were EUR 154.1 million and EUR 210.4 million, with margins of 7.2% and 9.8%, respectively. For the short
financial year from April 1, 2015 to December 31, 2015, Senvion's main operating subsidiary Senvion GmbH achieved
revenues of EUR 1,683.0 million. Its adjusted EBIT reached EUR 136.3 million in the same period, corresponding to an
EBIT margin of 8.1%, and an increase of EUR 64.0 million or 88.6% year-on-year. Adjusted for an intergroup loan and the
accrued interest thereon, Senvion GmbH's net working capital decreased by EUR 250.5 million from EUR 159.6 million as of
March 31, 2015 to a negative EUR 90.9 million as of December 31, 2015, reflecting substantial improvements achieved in
net working capital management during the short financial year 2015. Liquid funds amounted to EUR 417.7 million as of
December 31, 2015. Based on the strength of its liquidity position, Senvion currently intends to redeem its outstanding
EUR 400.0 million 6.625% high-yield bonds upon expiration of the bond's non-call period in 2017. In addition, Senvion
intends to reduce the interest expenses on its L/G and RCF facilities.

Senvion is geared for growth and well-positioned to capture international opportunities in the wind energy market. The
company focuses on winning market share by implementing country-specific strategies and by driving expansion through
innovations in the low-wind segment. Additionally, Senvion strategically enters markets where demand matches its
existing product portfolio and where it stands to benefit from a local presence. In this way, Senvion has expanded
existing client relationships into new markets. Senvion's new long-term strategy, implemented since the acquisition by
Centerbridge and Arpwood Partners, aims to increase the company's addressable market reach by approximately 60% in GW
terms.

Stefan Kowski, Chairman of the Supervisory Board, said: "We fully support Senvion's objectives for international growth.
With its listing, Senvion will increase its international profile and transparency, highlighting its financial
strengths. As an independent company, Senvion can continue to pursue its strengths in entering new markets, investing in
innovation and developing client relationships."

Luxembourg-based Senvion S.A. is acting as the issuer for the transaction. Deutsche Bank, Citigroup and J.P. Morgan will
act as Joint Global Coordinators and Joint Bookrunners. BofA Merrill Lynch, Barclays, Berenberg and Morgan Stanley have
been mandated as additional Joint Bookrunners. Rothschild is acting as financial adviser to Senvion.

About Senvion
Senvion is a leading global manufacturer of onshore and offshore wind turbines. The international mechanical engineering
company develops, produces and markets wind turbines for almost any location - with rated outputs of 2 megawatts ("MW")
to 6.2 MW and rotor diameters of 82 meters to 152 meters. Furthermore, the company offers its customers project specific
solutions in the areas of turnkey, service and maintenance, transport and installation, as well as foundation planning
and construction. The profitable and reliable systems are designed at the Senvion TechCenter in Osterrönfeld and
manufactured at its German plants in Husum (North Friesland), Trampe (Brandenburg) and Bremerhaven, as well as Portugal.
With approximately 3,900 employees worldwide, the company - headquartered in Hamburg - makes use of the experience
gained from the manufacture and installation of more than 6,600 wind turbines around the world. Senvion is represented
in European markets such as France, Belgium, the Netherlands, the UK, Italy, Romania, Portugal, Sweden, and Poland as
well as on a global level in the USA, China, Australia and Canada.

Press contact Investor Relations contact
Verena Puth Dhaval Vakil
phone: +49 40 5555 090 3051 phone: +44 20 7034 7992
mobile: +49 174 30 54 576 mobile: +44 7788 390 185
email: verena.puth@senvion.com email: dhaval.vakil@senvion.com

Forward-Looking Statements

Certain statements in this press release are forward-looking statements. By their nature, forward-looking statements
involve a number of risks, uncertainties and assumptions that could cause actual results or events to differ materially
from those expressed or implied by the forward looking statements. These risks, uncertainties and assumptions could
adversely affect the outcome and financial consequences of the plans and events described herein. No one undertakes any
obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future
events or otherwise. You should not place any undue reliance on forward-looking statements which speak only as of the
date of this press release. Statements contained in this press release regarding past trends or events should not be
taken as representation that such trends or events will continue in the future. The cautionary statements set out above
should be considered in connection with any subsequent written or oral forward-looking statements that Senvion S.à r.l.
or Senvion S.A. (the "Company"), or persons acting on its behalf, may issue.

Disclaimer

These materials may not be published, distributed or transmitted in the United States, Canada, Australia or Japan. These
materials do not constitute an offer of securities for sale or a solicitation of an offer to purchase securities (the
"Securities") of Company in the United States, Germany or any other jurisdiction. The Securities of the Company may not
be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities
Act of 1933, as amended (the "Securities Act"). The Securities of the Company have not been, and will not be, registered
under the Securities Act.

In the United Kingdom, this document is only being distributed to and is only directed at persons who (i) are investment
professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order
2005 (as amended) (the "Order") or (ii) are persons falling within Article 49(2)(a) to (d) of the Order (high net worth
companies, unincorporated associations, etc.) (all such persons together being referred to as "Relevant Persons"). This
document is directed only at Relevant Persons and must not be acted on or relied on by persons who are not Relevant
Persons. Any investment or investment activity to which this document relates is available only to Relevant Persons and
will be engaged in only with Relevant Persons.

Neither the Company nor any of its shareholders intend to make any public offer of shares in the Company in the United
States, Germany or any other jurisdiction. It is only intended that shares will be placed with qualified investors and
less than 150 non-qualified investors per EEA member state in the Federal Republic of Germany and certain other
jurisdictions and subsequently admitted to trading on the regulated market segment (regulierter Markt) of the Frankfurt
Stock Exchange with simultaneous admission to the sub-segment of the regulated market with additional post-admission
obligations (Prime Standard) of the Frankfurt Stock Exchange. The Listing will be made on the basis of a prospectus that


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