Nordex on Monday raised its full-year 2025 EBITDA margin guidance following a review of preliminary third-quarter results and an updated full-year forecast, the German wind turbine manufacturer said.
The company now expects an EBITDA margin of 7–8.5%, up from its previous range of 5–7%, driven by strong operational performance across projects and service, as well as a stable macroeconomic environment.
Preliminary Q3 EBITDA reached €136 million, corresponding to an 8.0% margin, compared with €72 million and 4.3% in the same period last year. Quarterly revenues are projected at around €1.706 billion, slightly higher than €1.671 billion in Q3 2024, reflecting seasonal dynamics and temporary supplier-related delays in Türkiye.
Nordex ended the third quarter with €1.378 billion in cash, up from €1.151 billion at the end of 2024, and reported €298 million of free cash flow over the first nine months of 2025, compared with nil in the same period last year. The company expects positive free cash flow in Q4, supported by additional profits, order intake momentum, and continued improvements in working capital.
“Our teams have delivered exceptionally well in Q3, and the results reflect the strength of our execution in the projects and service segments,” said José Luis Blanco, chief executive of Nordex Group. He added: “For the remainder of the year, we remain confident that we will be able to deliver a significant step up in profitability compared to 2024 levels, now guiding at a level of 7.5 to 8.5%.”
Blanco also said the company remains focused on “driving profitable growth and creating long-term value for our shareholders.”
Nordex is scheduled to publish full Q3 2025 results on Nov. 4 and will host an analyst and investor call at 08:30 CET on Oct. 28 to discuss the guidance update.
