Nordex Surges Ahead with Record Orders and Strong Q2 Earnings Performance – EQ
In Short : Nordex exceeded Q2 expectations with a €108.2 million EBITDA, up 64% year-on-year, and net income soaring to €31 million. The company secured record orders of 2.3 GW, boosting its backlog to €14.3 billion. Despite lower turbine production, strong installations and improved cash flow supported confidence in its 2025 outlook, affirming Nordex’s competitive edge in the onshore wind sector.
In Detail : Nordex reported stronger-than-expected earnings in the second quarter of 2025, posting an EBITDA of €108.2 million. This marked a 64% year-on-year increase and surpassed market expectations, which had projected earnings around €102 million. The results reflect solid operational performance and effective cost control.
The company’s net income surged to €31 million, a significant leap from just €0.5 million during the same quarter last year. This dramatic increase underscores Nordex’s improved financial health and the positive momentum in its core wind turbine business.
A key highlight of the quarter was Nordex’s record order intake of 2.3 gigawatts, representing an 82% increase compared to Q2 2024. The growth in orders is seen as a strong indicator of continued demand in the onshore wind market.
As a result of the high order volume, Nordex’s total order backlog rose to €14.3 billion by the end of June, up from €11 billion a year earlier. This robust pipeline supports the company’s outlook for the remainder of the year and beyond.
Sales revenue for the quarter reached approximately €1.9 billion, showing slight growth from €1.86 billion in the previous year. While modest, this growth occurred alongside a more significant improvement in profitability.
The company reported free cash flow of €145.1 million, driven by improved earnings and better working capital management. The EBITDA margin also strengthened to 5.8%, compared to 3.5% in the previous year.
Despite a 14% decline in turbine production—down to 1,586 MW due to scheduling issues—Nordex successfully installed 337 turbines, totaling 1,959 MW, across 16 countries. This demonstrates the company’s resilience in execution despite operational constraints.
CEO José Luis Blanco expressed confidence in meeting Nordex’s full-year financial guidance. He attributed the strong Q2 results to rising demand, enhanced efficiency, and a growing presence in key global markets.
With continued growth in countries like Germany, Turkey, and Latvia, Nordex is firmly positioning itself as a leading player in the onshore wind energy sector, competing closely with global peers such as Siemens Energy and GE Vernova.
