Nordex stock weighs expansion against stronger earnings outlook

Published on 10/30/2026 at 10:55 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Nordex stock trades lower ahead of the full third-quarter release. The company is expanding into New Zealand with a long-term service contract.

Nordex combines expansion and stronger margins

Nordex entered New Zealand with Mercury's 192-megawatt wind farm order and a 30-year service agreement.
Preliminary third-quarter EBITDA more than doubled year over year, while the 2026 margin outlook was raised.
Full third-quarter results and the conference call are scheduled for November 5, 2026.

Nordex, DE000A0D6554, Illustration mit AI erstellt.

Nordex stock traded at 37.51 euros on Lang & Schwarz at 10:45 CET on Friday, October 30, 2026, 2.93 percent below the Xetra close of Thursday, October 29. Investors are weighing the wind-turbine maker's recent international expansion and stronger preliminary quarterly performance ahead of the full Q3 release.

First New Zealand order broadens reach

Nordex announced on October 22 that Mercury had ordered 40 N133/4.8 turbines with total capacity of 192 megawatts for the Puke Kapo Hau wind farm in New Zealand's Otago region. The order marks Nordex's first entry into the New Zealand wind market, according to the Nordex announcement.

The agreement also includes comprehensive operations and maintenance services for 30 years. Installation of the first turbine is scheduled to begin in early 2028, with commissioning of the first unit planned for mid-2028. Nordex said it plans to work with local contractors as it builds capabilities in the country.

Profitability outlook moves higher

The New Zealand order adds a new market to Nordex's project pipeline, but the nearer-term earnings focus remains the third quarter. In a preliminary update published on October 15, Nordex said Q3 revenue was expected at 2.187 billion euros, up from 1.706 billion euros a year earlier. Preliminary EBITDA was forecast at 278 million euros, versus 136 million euros in Q3 2025, lifting the margin to 12.7 percent from 8.0 percent.

Nordex raised its full-year 2026 EBITDA margin guidance to 11.5 percent to 12.5 percent from 8.0 percent to 11.0 percent. The company attributed the improvement to higher margins in the Service segment and strong project execution. It also said risks previously assumed for the Projects segment had not materialized to the extent anticipated. The Nordex release said all other full-year guidance parameters remained unchanged.

For investors, the key test is whether the preliminary margin improvement is confirmed in the complete report and supported by cash generation. Nordex expects to publish its full third-quarter results and hold its conference call on November 5, 2026. The scheduled release should provide more detail on the Service and Projects segments, order execution and the assumptions behind the upgraded margin range.

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