Germany's Nordex Q1 sales beat on higher production

Nordex SE

27/04/2026 06:11

Overview

Germany wind turbine maker's Q1 sales rose 11% yr/yr, beating analyst expectations

Q1 EBITDA margin improved to 8.2% from 5.5% a year earlier

Net income for Q1 rose to EUR 53.6 mln from EUR 7.9 mln

Outlook

Nordex confirms full-year 2026 guidance

Result Drivers

MARGIN IMPROVEMENT - Co attributed higher Q1 margins to operational execution and continued demand in core markets, per CEO José Luis Blanco

HIGHER SELLING PRICES - Average selling price per megawatt rose, mainly due to scope and regional composition

INCREASED PRODUCTION - Turbine production and installations rose compared to Q1/2025

Company press release: ID:nEQ1QXrVwa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Sales
Beat
EUR 1.59 bln
EUR 1.54 bln (5 Analysts)
Q1 Net Income
EUR 53.60 mln
Q1 EBITDA
EUR 130.70 mln
Q1 EBITDA Margin
8.20%
Q1 Free Cash Flow
-EUR 98.10 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 9 "strong buy" or "buy", 6 "hold" and 3 "sell" or "strong sell"

The average consensus recommendation for the heavy electrical equipment peer group is "buy"

Wall Street's median 12-month price target for Nordex SE is €45.00, about 0.1% above its April 24 closing price of €44.94

The stock recently traded at 23 times the next 12-month earnings vs. a P/E of 22 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)