Nordex profit rises after more wind turbines installed (updated)

Nordex SE

04/11/2025 15:13

Q3 net income rises despite supplier issues in Turkey

Analysts say service margins boost profitability

Confirms 2025 guidance, shares fluctuate

Adds context, CEO quotes in paras 2-5, share move in para 9

By Marleen Kaesebier

Nov 4 - German onshore wind turbine maker Nordex's NDXG.DE third quarter net income increased significantly from last year after it produced and installed more wind turbines than in the same period a year ago, the company said on Tuesday.

Nordex's net income increased to 51.7 million euros ($60.3 million) at the end of the third quarter, compared to 3.9 million euros in the same quarter last year. The company installed 420 wind turbines in the period, compared with 352 a year ago.

That was despite facing blade supplier issues in Turkey where Nordex's chief executive Jose Luis Blanco said a factory had been on strike since May and hadn't produced since.

Blanco assured analysts and investors on a conference call that Nordex was in talks with the government and stakeholders in Turkey about the blade production stop.

"We are fully committed to invest in Turkey for the long term because it's a country with sustainable volumes where we are market leaders," Blanco said.

Nordex is now building an in-house plant in Turkey, he said.

The wind turbine maker also confirmed its 2025 guidance, which it had raised in October.

"With solid order intake and improved visibility, we are confident in sustaining this trajectory and delivering on our upgraded full-year," Blanco said in a statement.

Blanco said on the call that 2026 could be a better year for the company than 2025 but an improved performance was not a certainty. He said the company would give further details alongside its full-year results in February.

     Shares in Nordex rose as much as 2.7% during the day but reversed course, trading down 0.2% at 1439 GMT. The shares gained nearly 23% on October 28 when Nordex raised its guidance.

($1 = 0.8575 euros)

 (Reporting by Marleen Kaesebier in Gdansk; editing by Matt Scuffham)

 ((Marleen.Kaesebier@thomsonreuters.com))