Vesta's German competitor Nordex increased earnings significantly in the first quarter of 2026. The improvement was driven by higher margins and increasing revenue. The wind turbine manufacturer stated this in a press release.
Revenue increased to 1.6 billion euros, equivalent to 10.6 percent, while EBITDA landed at 130.7 million euros and a margin of 8.2 percent. EBIT grew to 88.6 million euros from 35.1 million euros the previous year, and the EBIT margin improved to 5.6 percent from 2.4 percent. Net profit increased to 53.6 million euros from 7.9 million euros.
- The first quarter developed as expected and was a positive start to the year for Nordex. We continued to deliver solid operational execution, further improved margins and entered the year with a strong financial position. The continued demand in our core markets and an EBITDA margin above 8 percent already in the first quarter confirm that we are on track to deliver on our expectations for 2026, says José Luis Blanco, CEO of Nordex Group.
Decline in order intake – but growing order book
Order intake in the project business fell to 1,869 MW from 2,182 MW the previous year, while the value of new orders amounted to 1.7 billion euros against 1.9 billion euros the previous year. The average price per MW increased to 0.91 million euros, driven by changes in the scope and geographical composition of the projects.
Despite the lower order intake in the quarter, the order book grew to 17.0 billion euros at the end of March from 13.5 billion euros the previous year. Of this, the project business accounted for 10.5 billion euros, while service accounted for 6.5 billion euros.
Production increased to 1,494 MW, an increase of 23.5 percent, while installations reached 1,155 MW distributed across 14 countries. Europe accounted for 86 percent of the installed capacities. In the project business, revenue increased to 1.4 billion euros, while the service business grew to 217.9 million euros. The EBIT margin reached 12.2 percent in projects and 19.2 percent in service.
As a result of the quarterly financial statements, Nordex maintains its expectations for 2026 and still expects an EBITDA margin of 8-11 percent and revenue of 8.2-9 billion euros.
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