Nordex Shares Maintain Momentum on Strong Annual Performance

Wind turbine maker Nordex reports record 2025 results, targets €9B revenue for 2026. Long-term service deals and high energy prices provide tailwind ahead of key spring events.

A robust operational performance and favorable external market dynamics are currently providing a tailwind for wind turbine manufacturer Nordex. The company's recent record-breaking financial year forms a solid foundation, while geopolitical tensions in the Middle East are contributing to higher energy prices. This combination is raising expectations ahead of several key corporate events scheduled for the spring.

A Foundation of Record Profitability

The company's financial health is entering the current period from a position of significant strength. For the full fiscal year 2025, Nordex reported revenue climbing to €7.55 billion. Its operational earnings, measured by EBITDA, more than doubled to reach €631 million. A standout metric is the leap in profitability: the EBITDA margin expanded from 4.1% to 8.4%, even achieving 12.1% in the final quarter. Building on this elevated base, management is now targeting group revenues of up to €9.0 billion for 2026.

Long-Term Service Agreements Add Stability

Alongside this financial upswing, the company's order book continues to grow. Recent contracts for German wind farms in Peckelsheim and the Fretter Valley include not only the supply of turbines starting in 2027 but also feature a strategically crucial component: they are linked to 20-year service agreements. These long-term maintenance contracts create a reliable revenue stream, making the business model notably more resilient to volatility in pure new equipment sales.

Key Spring Dates for Investors

The market will receive an early indication of whether this operational strength is continuing when Nordex releases its first-quarter 2026 figures on April 27. Shortly after, on May 5, the virtual annual general meeting will be held in Hamburg. This meeting will address several important structural items:

• An expansion of the supervisory board from six to seven members, a move that strengthens the position of the Spanish anchor shareholder, Acciona.
• Resolutions concerning capital measures and the introduction of electronic shares.
• Confirmation of a new dividend policy, which stipulates a minimum annual payout of €50 million starting from 2027.

Supported by these intact positive trends and the external factor of elevated energy prices resulting from the Iran conflict, the recent share price high of €46.90 remains within reach. The upcoming quarterly report on April 27 is expected to provide concrete data on the current order backlog and clarify whether the company can sustain the high margin level achieved in the previous year.