Nordex reported a substantial increase in fourth-quarter EBITDA, driven by stronger sales and improved operational performance, the company said in its latest results.
Earnings before interest, tax, depreciation and amortisation rose to €307.4 million from €106.9 million a year earlier, lifting the EBITDA margin to 12.1% from 4.9%.
Quarterly sales reached about €2.5 billion, up from €2.2 billion in the same period of 2024, while net income climbed to €183.8 million from €17.5 million.
Order intake increased 9.2% year on year to €3.2 billion, contributing to a record full-year order value of €9.3 billion.
“The past year marked an important milestone for the Nordex Group,” said chief executive José Luis Blanco.
“We met – and in some cases exceeded – our operational and financial targets, while also reaching our medium-term EBITDA margin target of 8 percent,” he added.
Chief financial officer Dr Ilya Hartmann said the company was satisfied with its overall performance.
“We are pleased with our financial performance last year with €7.6bn in sales and an EBITDA margin of 8.4 percent and a substantially higher net income of €274.3m compared to the previous year,” Hartmann said.
Production volumes rose sharply in the quarter, with 3,202MW of turbines manufactured compared with 2,519MW in the fourth quarter of 2024. Installed capacity reached 2,083MW versus 1,660MW a year earlier.
In the project segment, sales increased to €2.3 billion from €2.0 billion, while service revenue edged up to €240.4 million from €233.1 million.
Cash and cash equivalents rose to €1.93 billion at year-end from €1.15 billion, helping lift the net cash position to €1.62 billion compared with €848.2 million previously. Quarterly free cash flow reached €565.2 million, up from €271.1 million.
For 2026, Nordex expects sales of €8.2 billion to €9.0 billion with an EBITDA margin between 8% and 11%, and said it has raised its medium-term margin target to 10%–12%.
