Nordex soars in Frankfurt, beats expectations in the third quarter and raises its forecasts
The group now expects an EBITDA margin of between 11.5% and 12.5%, exceeding its previous forecast of 8%–11%
(Il Sole 24 Ore Radiocor)- Nordex is flying high on the Frankfurt Stock Exchange, thanks to its 2026 forecasts being revised upwards following a better-than-expected quarter. Shares in the wind turbine manufacturer are rising sharply, bringing the year-to-date gain to over 35%. As stated in a press release, “based on preliminary, unaudited third-quarter results and updated full-year forecasts, the group now expects an EBITDA margin of between 11.5% and 12.5%, exceeding the previous forecast of 8%–11%”.
Preliminary EBITDA for the third quarter is expected to stand at around €278 million, compared with €136 million in the same period last year, corresponding to a margin of 12.7 per cent, up from 8 per cent. Preliminary revenue for the quarter is expected to come in at around 2,187 million, up from 1,706 million. “The third-quarter results, which exceeded expectations, and the improved outlook are driven by higher margins in the Services segment and solid project execution, whilst the risks anticipated for the Projects segment in the previous guidance did not materialise to the extent anticipated,” explains Nordex. Cash and cash equivalents, based on preliminary figures for the third quarter, amount to 2,327 million, up from 1,929 million at the end of the fourth quarter of 2025. Free cash flow in the third quarter of 2026 is expected to stand at 379 million euros, a significant increase from 149 million last year, the group adds. Not only that: Nordex expects that “free cash flow will remain positive in the fourth quarter, thanks to additional profits, growth in orders and the continued improvement in working capital”.
According to analysts at Jefferiers, the group has even exceeded the most optimistic forecasts for its EBITDA for the quarter. The upward revision to the guidance is also better than expected.
