Nordex Doubles Quarterly EBITDA, Lifts 2026 Margin Outlook as Analysts Reiterate Bullish Calls

Published on 11/08/2026 at 04:32 | Editorial boerse-global.de

Nordex raised its 2026 EBITDA margin outlook to 11.5%-12.5% after Q3 EBITDA more than doubled to EUR 278.2 million; shares rose 4.3% to EUR 42.50.

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Nordex has raised the profitability bar for the full year, and the market responded. Shares of the German wind turbine manufacturer climbed 4.3% to EUR 42.50 on Friday, a move that coincided with a broader tailwind across European renewable-energy equities following the US midterm elections — though the company-specific driver was clearly its quarterly report.

Earnings More Than Double

For the third quarter of 2026, Nordex reported EBITDA of EUR 278.2 million, more than double the EUR 135.9 million posted in the same period a year earlier. Revenue came in at EUR 2.2 billion, while net profit reached EUR 147.1 million, up from EUR 51.7 million in the prior-year quarter. The EBITDA margin for the three-month stretch stood at 12.7%, and free cash flow amounted to EUR 379.1 million.

Guidance Raised on Margin, Not on Everything

The company lifted its full-year 2026 EBITDA margin target to a range of 11.5% to 12.5%, up from the previously guided 8.0% to 11.0%. Nordex was explicit that the upgrade applies to the margin line only — the remaining components of its annual forecast were left untouched.

Should investors sell immediately? Or is it worth buying Nordex?

Two Brokerages, One Verdict

Deutsche Bank Research reaffirmed its Buy rating with a EUR 59 price target. Analyst John Kim called the third quarter convincing and described management's commentary on the closing quarter as confident. Jefferies likewise stuck with its Buy recommendation and a EUR 63 target, with analyst Constantin Hesse pointing to improved execution, operating leverage and healthy order momentum — ingredients he sees as setting the company up well for 2027.

Order Book Gets a Service Sweetener

Operationally, Nordex recently secured a contract from DenkerWulf for the Bredenbek wind farm in Schleswig-Holstein. The order covers nine N149/5.X turbines with a combined capacity of 51.3 MW, bundled with a 20-year premium service agreement. Investors will get the next hard numbers on 24 February 2027, when Nordex is scheduled to publish its 2026 annual results.

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