Nordex has delivered a surprising turnaround in its first quarter 2025 results, with profitability significantly improving despite a revenue decline. The wind turbine manufacturer reported a revenue drop of 8.8% to €1.44 billion compared to €1.57 billion in the same period last year, attributed to fewer installations and shifts in production scheduling. However, the company's EBITDA surged by an impressive 52.6% to €80 million, pushing the margin from 3.3% to a robust 5.5%. This profitability boost represents a potential breakthrough moment for investors who have long waited for improved financial performance. Additionally, Nordex achieved a positive free cash flow of €4 million, a remarkable turnaround from the previous year's negative €254 million.
Order Books Signal Strong Future Growth
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The company's order situation continues to strengthen, with new orders increasing by 5% to 2.2 gigawatts, representing a 7% value increase to approximately €1.9 billion. These orders span ten different countries, highlighting Nordex's broad international presence. The total order backlog has grown to an impressive €13.5 billion, up from €11.1 billion in the previous year, providing substantial business security for the coming months. The service business has been particularly strong, growing by 19% to €197 million and now representing €5.2 billion of the total backlog-with traditionally higher margins than project business. Based on these positive indicators, Nordex has confirmed its forecasts for both 2025 and its medium-term goals.
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