Nordex Achieves Record Figures in Q4/2025 - Share Jumps 19 Percent to Over €41
Hamburg (Germany) - Nordex SE not only met all of its financial and operational targets with its Q4 and full-year 2025 figures released today, but also set new benchmarks in several areas. The share price responded with a strong increase of almost 19 percent, rising above €41 - a level not seen since the early 2000s.
Q4 2025 Results - Order Intake Up 9.2 Percent to €3.2 Billion
In the reporting quarter, Nordex SE significantly increased its order intake to €3.2 billion (Q4/2024: €2.9 billion). Revenue rose 16 percent to €2.5 billion (Q4/2024: €2.2 billion). EBITDA improved markedly to €307 million with a margin of 12.1 percent (Q4/2024: €106.9 million; margin: 4.9 percent). Quarterly net profit amounted to €184 million (Q4/2024: €17.5 million). Free cash flow improved in the fourth quarter to €565 million (Q4/2024: €271 million).
For the full year 2025, Nordex SE achieved group revenue of €7.6 billion (2024: €6.5 billion) with an EBITDA margin of 8.4 percent (2024: 5.8 percent). Order intake for the full year reached a new record of €9.3 billion (2024: €8.5 billion), underscoring strong market momentum. Net profit rose significantly to €274 million (2024: €18 million).
Free cash flow for the full year 2025 reached €863 million (2024: €145 million). The order backlog at year-end was €16.1 billion (31.12.2024: €12.8 billion), providing high visibility for the coming years.
Production Figures and Segment Development on Track
In Q4 2025, Nordex produced wind turbines with a total capacity of 3,202 MW, increasing production by 27.1 percent compared with the same quarter last year (Q4/2024: 2,519 MW). Rotor blade production declined slightly by 0.7 percent to 1,587 units due to temporary delays at a supplier in Turkey (Q4/2024: 1,598 units). Of these, 447 blades were produced in-house (Q4/2024: 399 units), while 1,140 units were sourced externally (Q4/2024: 1,199 units).
Installation capacity also rose significantly: in Q4 2025, the Group installed 376 wind turbines in 20 countries with a total capacity of 2,083 MW. By comparison, in Q4 2024, 283 turbines were installed in 18 countries with 1,660 MW. Regionally, 86 percent of installed capacity was in Europe, 9 percent in the Rest of the World, and 5 percent in North America.
High operational utilization was reflected in segment performance. In the Projects segment, revenue rose 17.7 percent to around €2.3 billion (Q4/2024: €2.0 billion). The Service business increased 3.1 percent to €240 million (Q4/2024: €233 million), highlighting the stable development of the higher-margin business area.
Outlook for 2026 and Medium-Term Targets - Growth Trajectory Confirmed
For 2026, Nordex expects group revenue between €8.2 and €9.0 billion (2025: €7.6 billion) with an EBITDA margin of 8.0 to 11.0 percent (2025: 8.4 percent). The working capital ratio is expected to remain below minus 9 percent (31.12.2025: minus 12.4 percent), and around €200 million is planned for investments.
Given the strong business development, the company is also raising its medium-term EBITDA margin target to 10.0-12.0 percent (previous target: around 8 percent), underscoring its commitment to sustainably improved profitability.
Source: IWR Online, 25 Feb 2026
