German wind turbine manufacturer Nordex Group posted a significant rise in third-quarter profitability, raising its full-year earnings guidance after reporting improved margins, strong cash generation, and higher turbine orders.
Sales remained stable at €1.7 billion, while EBITDA jumped 90.1% year-on-year to €135.9 million, lifting the margin to 8.0% from 4.3%. Net income climbed to €51.7 million from €3.9 million in the same period last year, with free cash flow reaching €149 million.
“Our profitability reached a new level in Q3/2025, driven by strong execution in both our project and service businesses,” Nordex Chief Executive José Luis Blanco said.
He added: “The significant free cash flow generation highlights our operational strength and disciplined working capital management. With solid order intake and improved visibility, we are confident in sustaining this trajectory and delivering on our upgraded full-year guidance.”
Nordex lifted its 2025 EBITDA margin forecast to 7.5–8.5% from 5.0–7.0%. Order intake in the quarter reached 2,170 MW, up 25.7% from 1,726 MW a year earlier, worth €2 billion across 16 countries, with an average selling price of €0.93 million per MW.
The company’s order book stood at €14.9 billion at the end of September, up from €11.5 billion a year earlier, with €9.3 billion in projects and €5.6 billion in service contracts.
Nordex produced 2,541 MW of turbines, up 22.9% from last year, although rotor blade output fell 24.7% to 1,122 units due to temporary supplier delays in Türkiye. The company installed 420 turbines totaling 2,576 MW across 20 countries, compared with 2,010 MW in 2024.
Project sales were €1.5 billion, unchanged year-on-year, while service revenue rose 9.2% to €219.2 million. Cash and equivalents increased to €1.38 billion, resulting in net cash of €1.07 billion. The company’s equity ratio strengthened to 18.3%.
