EQS-News: Nordex Group reports solid Q4/2025 ...

Nordex SE (ISIN: DE000A0D6554) has reported robust fourth quarter and full year results for 2025, surpassing its mid-term EBITDA margin target with a full-year margin of 8.4 percent and a quarterly margin of 12.1 percent. The company achieved a record order intake of EUR 9.3 billion for the year, including EUR 3.2 billion in Q4 alone, and net income rose to EUR 274 million for the full year, reflecting a significant increase from the previous year. Free cash flow also reached a record EUR 863 million for the year, with EUR 565 million generated in the fourth quarter. For 2026, Nordex anticipates sales between EUR 8.2 billion and EUR 9.0 billion, alongside an EBITDA margin of 8.0 to 11.0 percent, while raising its mid-term EBITDA margin target to between 10 and 12 percent.

This performance aligns with Nordex's strategic focus on expanding its market share in the wind energy sector, as evidenced by previous announcements regarding its growth initiatives and operational enhancements. The company has consistently communicated its aim to increase order intake and improve profitability, which is reflected in the substantial growth in both sales and net income. The record order intake of 10.2 GW and the robust performance across its project and service segments underscore the effectiveness of Nordex's operational strategies and its ability to capitalize on the growing demand for renewable energy solutions.

From a financial perspective, Nordex's balance sheet appears strong, with total assets amounting to approximately EUR 6.8 billion, a 19.9 percent increase from the previous year. The equity ratio improved to 19.0 percent, and cash and cash equivalents rose significantly to EUR 1.93 billion, resulting in a net cash position of EUR 1.62 billion. This financial strength positions Nordex well for future investments, with approximately EUR 200 million planned for capital expenditures in 2026. The company's positive free cash flow of EUR 565 million in Q4 2025 indicates a solid operational foundation that supports its growth trajectory.

In terms of peer comparison, Nordex operates in a competitive landscape with several direct peers in the wind energy sector. Companies such as Siemens Gamesa Renewable Energy (BME: SGRE), Vestas Wind Systems A/S (CPH: VWS), and Orsted A/S (CPH: ORSTED) represent comparable entities, albeit at different scales. Siemens Gamesa, for example, reported an order intake of EUR 10.5 billion for its fiscal year 2025, while Vestas has been focusing on expanding its service segment, which aligns with Nordex's strategy. However, Nordex's recent performance, particularly its record order intake and substantial free cash flow, positions it favorably against these peers, especially considering its increased EBITDA margin targets.

The significance of Nordex's recent results cannot be overstated. The company's ability to exceed its financial targets and upgrade its mid-term EBITDA margin guidance reflects a strong value creation pathway and de-risking of its operational assets. With a solid order book valued at EUR 16.1 billion, which includes EUR 10.1 billion in the Projects segment, Nordex is well-positioned to capture future growth opportunities in the renewable energy market. The company's focus on profitability, combined with its strategic investments and operational efficiencies, enhances its competitive position relative to peers, potentially attracting further investor interest and supporting long-term shareholder value.