Nordex Impresses in Q2 2025: Strong Order Intake, Increased Profitability, Positive Cash Flow – Stock Climbs
Hamburg, Germany – The Nordex Group remains on a growth trajectory: In the second quarter of 2025, the wind turbine manufacturer delivered strong results with a significant increase in orders, improved profitability, and a substantially higher cash flow. The company’s share price initially surged but later gave up some gains.
Profitability up significantly – Nordex Reaches €108 Million in EBITDA
Financially, Nordex delivered a strong signal in the second quarter. The company reported revenues of €1.87 billion, nearly unchanged from the previous year’s quarter (Q2 2024: €1.86 billion). EBITDA, however, jumped by more than 64 percent to €108.2 million, raising the EBITDA margin to 5.8 percent (Q2 2024: 3.5 %). Net profit rose to €31 million, up from just €0.5 million in Q2 2024.
Free cash flow amounted to €145.1 million, compared to €94 million in the same quarter last year. The equity ratio edged up to 18.0 %, and cash and cash equivalents totaled €1.24 billion, resulting in a solid net cash position of €941.9 million.
“We delivered a strong second quarter, continuing our positive momentum from the beginning of the year. Our profitability levels further improved and we closed the quarter with a strong free cash flow, significantly up from last year,” said CEO José Luis Blanco.
Order boom fuels Nordex – 2.3 GW secured in the quarter
As previously reported on July 10, Nordex secured 2.3 gigawatts in new orders in Q2 2025 – an impressive 82 percent increase year-over-year. The total order value reached €2.2 billion (Q2 2024: €1.2 billion). New contracts span nine countries and include various turbine types. The average price per megawatt remained stable at €0.97 million (Q2 2024: €0.96 million).
At quarter-end, the total order backlog stood at €14.3 billion – up around 30 percent from a year earlier (June 30, 2024: approx. €11 billion). Of this, €8.9 billion relates to the project business and €5.5 billion to the service segment.
Stable production – installations in 16 countries
Turbine production decreased by 14.4 percent to 1,586 MW in Q2 (Q2 2024: 1,852 MW), which Nordex attributed to project scheduling. Rotor blade production increased by 8.1 percent to 1,399 units (Q2 2024: 1,294), with 466 blades produced in-house (Q2 2024: 405) and 933 sourced externally (Q2 2024: 889).
Worldwide, Nordex installed 337 wind turbines with a total capacity of 1,959 MW across 16 countries. Europe accounted for 87 percent of the installed capacity.
Full-year guidance confirmed
In light of these developments, Nordex reaffirmed its guidance for the full year. The company expects revenues between €7.4 and €7.9 billion and an EBITDA margin between 5.0 and 7.0 percent. “We are well prepared for the future, and our sustained performance we have achieved so far reinforces my confidence that we will maintain this positive trajectory and continue progressing toward our mid-term margin target,” Blanco concluded.
Nordex shares continue upward trend – strong performance in 2025
By late morning, Nordex shares rose to as high as €21.96 but have since retreated. The stock is currently trading at €20.54. Compared to the price at the beginning of the year, this marks a solid increase of around 81 percent.
Source: IWR Online, 28 Jul 2025