Nordex second-quarter core earnings nearly double, beating forecasts (updated)

Acciona

29/07/2026 06:23

Second quarter core earnings roughly doubled year-on-year
Company confirmed full-year targets
Shares rise by around 6%
Updates headline, adds bullets, share performance in paras 1, 2 and 6, analyst comment in para 3
By Danny Callaghan and Kira Britten
July 29 (Reuters) - Onshore wind turbine maker Nordex NDXG.DE on Wednesday reported second-quarter core earnings well above market expectations, sending its shares up more than 6%.
The German company's earnings before interest, taxes, depreciation and amortisation (EBITDA) nearly doubled from a year earlier to 224 million euros ($255.36 million), compared with a company-provided analyst consensus of 189 million euros. Shares in Nordex were up 6.2% at 0733 GMT.
"Nordex's second-quarter results look strong in our view, albeit with no guidance upgrade," Citi analysts wrote. They added that management suggested in a feedback call the company could achieve the "midpoint plus" of its full-year earnings-margin target.
Nordex has rebuilt margins over the past two years through stronger pricing and easing supply-chain pressures. Investors are now focused on whether robust European demand and recovering U.S. orders can drive further growth.
     
      
After more than tripling since early 2025, Nordex shares have fallen about 20% from their mid-May peak as concerns over auction pricing in Germany and a broader slowdown in equity-market momentum weighed on sentiment.
Analysts see the second half of the year as a key test for Nordex, expecting project deliveries and order volumes to exceed first-half levels.
The Hamburg-based manufacturer, in which Acciona ANA.MC owns a 47% stake, said earlier this month that second-quarter order intake rose by around a third from a year earlier, boosted by significant orders from the United States.
Nordex expects full-year sales of 8.2 billion euros to 9.0 billion euros and an EBITDA margin of 8% to 11%.
($1 = 0.8772 euros)

 (Reporting by Danny Callaghan and Kira Britten; Editing by Matt Scuffham)
 ((Email: danny.callaghan@thomsonreuters.com))