Nordex Stock Stages Intraday Recovery After Profit-Taking Dents 82 MW Order Glow

Nordex shares fell 6.9% intraday on profit-taking before recovering to close down 0.7%. A new 82 MW order from WNE with a 20-year service deal supports the outlook despite a Q1 order intake dip.

Nordex shares endured a roller-coaster session on Tuesday as a fresh German order for 82 megawatts of turbine capacity failed to prevent a sharp early sell-off, only to claw back most of the losses by the close. The intraday plunge to €44.16 — a decline of 6.94% — was quickly attributed to profit-taking after months of relentless gains, rather than any deterioration in the company’s operating outlook.

By the market’s close, the stock had recovered to €47.18, trimming the day’s loss to roughly 0.7%. That still leaves the wind turbine maker trading within striking distance of its 52-week high of €49.42, set on 5 May. The relative strength index of 47.6 suggests the equity is neither overbought nor oversold.

WNE Returns with a Repeat Order

The contract, awarded by Westfälisch-Niedersächsische Energie (WNE), covers twelve N175/6.X turbines destined for three sites in the Höxter district of North Rhine-Westphalia. The project — split between Dringenberg, Gehrden Ost and Gehrden Fölsen — will use turbines with a hub height of 179 metres and includes a 20-year premium service agreement. Construction is scheduled to begin in mid-2027.

WNE had already ordered three units of the same platform for a wind farm in neighbouring Marienmünster back in March, making this the client’s second Nordex purchase this year.

Service Revenue as a Margin Anchor

The long-term maintenance contract is in line with Nordex’s strategy of locking in steady, recurring income — a buffer that helps stabilise margins when equipment sales fluctuate. The N175 platform continues to be a key driver of the company’s order book in its home market.

Despite the latest order, the broader picture shows a slight cooling in new business. First-quarter intake fell to 1.869 gigawatts, down roughly 14% from the same period last year. On the positive side, EBITDA margin improved to 8.2% in the first three months of 2025. However, free cash flow remained in negative territory at €98.1 million.

Long-Term Track Record Supports Outlook

Nordex reported full-year revenue of €7.6 billion for 2025 and counts an installed base of over 64 gigawatts across more than 40 markets. That installed foundation underpins the service business and provides a base for future expansion.

The stock’s recent performance reflects the market’s long-term enthusiasm: year-to-date it has surged roughly 154%, while the trailing twelve-month gain stands at around 171%. The question for the second half of 2025 is whether order momentum can keep pace with the rally that profit-takers briefly tried to stop.