Nordex has posted a net profit of €4 million for the third quarter of 2024, a significant improvement from a €35 million net loss in the same period last year, as detailed in its results for the first nine months of 2024. The company’s EBITDA for the first nine months of the year reached €189 million, a marked turnaround from a €67 million loss during the same period in 2023. This growth reflects a steady rise in profitability, with Nordex’s EBITDA margin increasing to 3.7% year-to-date, and reaching 4.3% in Q3 2024.
Thanks to this positive trajectory, Nordex expects its full-year EBITDA margin to approach the upper limit of its guidance range of 3-4%.
In the Projects segment, Nordex secured new orders totaling 5.1 GW in the first nine months of 2024, a 4% rise compared to 4.9 GW for the same period in 2023. The value of these orders reached €4.6 billion, up from €4.1 billion the previous year, with orders coming from 23 countries and covering multiple turbine variants. As of September 2024, the company’s order book reached €11.5 billion, up from €10.2 billion in September 2023, including €6.9 billion in Projects and €4.6 billion in Service.
Turbine assembly production in the first nine months reached 5,090 MW, a slight 1.1% increase. Nordex installed 944 wind turbines across 24 countries, totaling 5 GW, aligning with internal targets.
Nordex CEO Jose Luis Blanco expressed satisfaction with the company’s operational gains, saying, “I am very pleased with the operational progress over the past nine months, demonstrating a consistent increase in profitability each quarter and aligning with our expectations.” He emphasized that Q3 results, including a positive net profit and free cash flow, position the company well on its path toward its mid-term goal of an 8% EBITDA margin.
