Nordex has reported a 53% rise in profitability for the first quarter of 2025 driven by “strong operational performance”.
EBITDA rose to €79.6m in the first quarter 2025 (Q1/2024: €52.1m), resulting in a EBITDA margin of 5.5% (Q1/2024: 3.3%).
Sales amounted to €1,435m, which is slightly lower compared to Q1/2024 (€1,574m) mainly driven by lower installation levels and production timing aspects.
Total performance, including changes in inventories, rose by around 7% to €1.6bn (Q1/2024: €1.5bn)
José Luis Blanco, chief executive of the Nordex Group, said: “In 2025, we continue to deliver the strong performance from last year.
“Overall, the first quarter met our expectations with a strong order intake and a further increase in our profitability levels.
“We were able to close the first quarter with a positive free cash flow, reflecting our ongoing strong operational performance.
“I remain confident of achieving our targets for this year and in the medium term.”
In its projects segment, Nordex recorded order intake of 2182MW for the first three months of 2025, up from 2086MW in the comparable period for 2024.
This represents an increase of 7% in total order value of new orders reaching around €1.9bn (Q1/2024: €1.8bn).
These orders were received from 10 different countries and for various turbine variants.
As of March 2025, the Nordex Group’s order book further increased to €13.5bn, compared to €11.1bn in March last year.
This comprises €8.2bn (Q1/2024: €7.3bn) in the projects segment and €5.2bn (Q1/2024: €3.8bn) in the service segment.
In the first three months of 2025, turbine assembly production reached 1210MW, marking a 3% increase compared to the same period of last year (Q1/2024: 1171MW).
Additionally, rotor blade production rose by 14% to 1,188 units, up from 1,039 units in the same period of 2024.
Of these, 458 rotor blades were produced in-house (Q1/2024: 313 units), while 730 (Q1/2024: 726 units) were sourced from external suppliers.
During the period, Nordex installed 180 wind turbines across 12 countries, totalling 1046MW in the first quarter of 2025.
This compares to 227 wind turbines with a total output of 1103GW in the same period of 2024.
Of the installations carried out in the period under review (in MW), 75% were attributable to Europe, 19% to Latin America and 6% to North America.
Sales in the projects segment stood at €1.2bn in the first quarter of this year, compared to €1.4bn in the comparable period of 2024.
The service segment experienced growth, with sales increasing by 19% to €197m (Q1/2024: €166m).