Nordex Group achieves double-digit EBITDA margin in Q2/2026, strong order intake growth, and positive free cash flow

• Order intake increased by 32 percent to 3.1 GW versus Q2/2025
• EBITDA more than doubled to EUR 224 million, with margin improving to 10.3 percent
• Net income increased to EUR 111 million in Q2/2026 versus
  EUR 31 million in Q2/2025
• Free cash flow was EUR 165 million in Q2/2026, supported by operating performance
• Full year 2026 guidance confirmed

Hamburg, 29 July 2026. The Nordex Group (ISIN: DE000A0D6554) reported solid operational and financial performance in the second quarter of 2026. 

Sales reached around EUR 2.2 billion in Q2/2026, 16.3 percent up compared to the previous-year quarter (Q2/2025: EUR 1.9 billion). 

Earnings before interest, taxes, depreciation, and amortization (EBITDA) for the second quarter of 2026 more than doubled to EUR 223.8 million (Q2/2025: EUR 108.2 million) reaching a double-digit EBITDA margin of 10.3 percent (Q2/2025: 5.8 percent).

Consequently, net income increased significantly to EUR 111.5 million at the end of Q2/2026 compared to EUR 31.0 million in the previous year quarter.

"In the second quarter of 2026, we increased our order intake by 32 percent, achieved an EBITDA margin of 10.3 percent and generated a positive free cash flow. These results reflect the continued progress in our operational execution and profitability. Supported by our total order book of EUR 18.4 billion, we confirm our guidance for the full year 2026. As we move through the second half of the year, our focus remains on disciplined execution and further progress towards our medium-term margin target,” says José Luis Blanco, Chief Executive Officer (CEO) of the Nordex Group.

Operational performance

In the second quarter of 2026, the Nordex Group secured 3,054 MW of order intake in the Projects segment, growing by 32.2 percent (Q2/2025: 2,310 MW). Total value of new orders reached EUR 3.0 billion (Q2/2025: EUR 2.2 billion). Orders were received from 10 countries and spanned various turbine variants. The average selling price (ASP) remained stable at EUR 0.97 m/MW (Q2/2025: EUR 0.97 m/MW).

As of 30 June 2026, the order book stood at EUR 18.4 billion (30 June 2025: EUR 14.3 billion), comprising EUR 11.6 billion in the Projects segment (30 June 2025: EUR 8.9 billion) and EUR 6.8 billion in the Service segment (30 June 2025: EUR 5.5 billion).

Production figures

Turbine production reached 1,953 MW in the second quarter of 2026, marking an increase of 23.1 percent compared to last year (Q2/2025: 1,586 MW) in line with project scheduling. Blade production remained on a similar level of 1,343 units compared to the previous year quarter (Q2/2025: 1,399 units). Of these, 367 blade units were produced in-house (Q2/2025: 466), while 976 (Q2/2025: 933) were externally sourced.

The Nordex Group installed 211 wind turbines across 15 countries, totaling 1,168 MW in the second quarter of 2026, in line with expectations. This compares to 337 wind turbines in 16 countries with a total output of 1,959 MW in Q2/2025.  The decline was primarily due to regional mix, blade-related postponements in Türkiye and project scheduling. Of the installed capacity, 87 percent were attributable to Europe, 8 percent to Latin America, 4 percent to North America and 1 percent to the region “Rest of the World”.

Segment reporting

Sales in the Projects segment were at around EUR 2.0 billion in the second quarter of the year, 17.6 percent up compared to the prior year (Q2/2025: EUR 1.7 billion). The Service segment grew by 7.9 percent to EUR 223.3 million (Q2/2025: EUR 206.9 million).

Financial position

As of 30 June 2026, total assets remained on a steady level of approximately EUR 7.1 billion, slightly higher than year-end 2025 (31 December 2025: EUR 6.8 billion). Cash and cash equivalents stood at EUR 1,959.7 million (31 December 2025: EUR 1,928.9 million), leading to a solid net cash position of EUR 1,673.3 million (31 December 2025: EUR 1,624.7 million). The equity ratio improved to 20.6 percent (31 December 2025: 19.0 percent) while working capital ratio as a percentage of consolidated sales was minus 8.3 percent (31 December 2025: minus 12.4 percent). In Q2/2026, the Nordex Group generated a positive free cash flow of EUR 164.6 million (Q2/2025: EUR 145.1 million) driven mainly by strong operational performance.

Reporting information

The complete interim financial report for the first half of 2026 is now available on the Nordex Group's website in the Investor Relations section under "Publications" (ir.nordex-online.com). The interim management report and the condensed interim consolidated financial statements were not reviewed by an auditor.

Nordex Group key financials
 

About the Nordex Group

The Group has commissioned more than 67 GW of wind power capacity in over 40 markets since 1985 and generated consolidated sales of around EUR 7.6 billion in 2025. The Company currently has more than 11,100 employees with a manufacturing network that includes factories in Germany, Spain, Brazil, India, US and Türkiye. Its product portfolio is focused on onshore turbines in the 4 to 7 MW+ classes which are designed to meet the market requirements of countries with limited available space and regions with constrained grid capacity. Nordex SE is listed on the MDAX and TecDAX of the Frankfurt Stock Exchange (ISIN: DE000A0D6554) in Germany.

Contact for press inquiries:

Nordex SE

Felix Losada

Phone: 040 / 300 30 – 1141

flosada@nordex-online.com

Contact for investor inquiries:

Nordex SE

Anja Siehler

Phone: +49 162 3515 334

asiehler@nordex-online.com
 

Nordex SE

Rafaela Gunzburger

Phone: +49 152 041 43 62

rgunzburger@nordex-online.com