Nordex Enters New Zealand as Quarterly Profit More Than Doubles and Cash Flow Hits EUR 379 Million
Published on 11/08/2026 at 19:52 | Editorial boerse-global.de
Nordex has booked its first-ever order in New Zealand, opening a fresh market just as the German wind turbine maker reported a quarterly profit that more than doubled and free cash flow of EUR 379 million. The twin developments drew a reiterated "Buy" rating and a EUR 59 price target from Deutsche Bank Research on Friday, the same day the shares climbed 4.3%.
Analyst John Kim said the third quarter had been convincing and that management's comments on the closing three months of the year inspired confidence — a verdict covering both the published figures and the outlook for the rest of the year.
Revenue and earnings
Sales for the third quarter of 2026 rose 28.2% to EUR 2.19 billion, or EUR 2,186.6 million on the company's precise reporting. EBITDA more than doubled to EUR 278 million from EUR 135.9 million a year earlier, producing a margin of 12.7%. Net profit came in at EUR 147 million.
Should investors sell immediately? Or is it worth buying Nordex?
The company has raised its full-year 2026 EBITDA margin guidance to a range of 11.5% to 12.5%.
Two orders, two continents
The New Zealand breakthrough came in an order announced on 22 October from utility Mercury, which commissioned 40 turbines of the N133/4.8 type for the Puke Kapo Hau wind farm in Otago. Together the machines deliver 192 MW. The contract also carries a 30-year service agreement, tying Nordex to the site long after commissioning.
Closer to home, DenkerWulf ordered nine turbines roughly two weeks ago for the Bredenbek wind farm in Schleswig-Holstein. Those units, of the N149/5.X type, total 51.3 MW and come with a 20-year premium service contract attached.
The common thread across both deals is the long-tail service revenue that Nordex is building alongside its hardware sales — three decades in New Zealand, two in northern Germany.
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