Wind turbine manufacturer Nordex Group reported strong financial and operational performance for the second quarter of 2026, driven by higher order intake, revenue growth and improved profitability.
The company recorded sales of €2.18 billion during the quarter, representing a 16.3% increase from €1.87 billion in the same period last year. Earnings before interest, taxes, depreciation and amortisation (EBITDA) more than doubled to €223.8 million, resulting in an EBITDA margin of 10.3%, compared with 5.8% in the second quarter of 2025.
Net income also increased significantly to €111.5 million, up from €31 million a year earlier.
Commenting on the results, José Luis Blanco, Chief Executive Officer of Nordex Group, said the company delivered strong operational execution during the quarter.
“We increased our order intake by 32%, achieved an EBITDA margin of 10.3% and generated positive free cash flow. Supported by our total order book of €18.4 billion, we confirm our guidance for the full year 2026,” Blanco said.
Order Book Expands to €18.4 Billion
The company secured 3,054 MW of new turbine orders in its Projects segment during the quarter, representing a 32.2% increase compared with the previous year. The total value of new project orders reached €3.0 billion, with contracts awarded across 10 countries. The average selling price remained stable at €0.97 million per MW.
As of 30 June 2026, Nordex’s total order book stood at €18.4 billion, including €11.6 billion in the Projects segment and €6.8 billion in the Service segment, compared with €14.3 billion a year earlier.
Turbine Production Increases
During the second quarter, Nordex produced 1,953 MW of wind turbines, up 23.1% year-on-year. Blade production totalled 1,343 units, including 367 manufactured in-house and 976 sourced externally.
The company installed 211 wind turbines across 15 countries, representing a combined capacity of 1,168 MW. The lower installation volume compared with the previous year was attributed to project scheduling, regional project mix and blade-related delays in Türkiye.
Europe accounted for 87% of installed capacity during the quarter, followed by Latin America (8%), North America (4%), and the Rest of the World (1%).
Service Business and Financial Position Strengthen
Revenue from the Projects segment increased 17.6% to approximately €2.0 billion, while the Service segment grew 7.9% to €223.3 million.
Nordex ended the quarter with €1.96 billion in cash and cash equivalents and a net cash position of €1.67 billion. The company generated positive free cash flow of €164.6 million, supported by strong operational performance.
The equity ratio improved to 20.6%, while total assets increased to approximately €7.1 billion as of the end of June 2026.
Based on its operational performance and growing order backlog, Nordex reaffirmed its financial guidance for the full year 2026, citing continued focus on disciplined execution and progress towards its medium-term profitability targets.
