April 27 (Reuters) - Onshore wind turbine manufacturer Nordex reported better-than-expected core earnings for the first quarter of 2026 on Monday, citing continued demand in its core markets. The
Germany's Nordex posts strong quarterly profit on European wind demand
Nordex's Financial Performance and Market Position
Strong First Quarter Earnings
April 27 (Reuters) - Onshore wind turbine manufacturer Nordex reported better-than-expected core earnings for the first quarter of 2026 on Monday, citing continued demand in its core markets.
The German company reported quarterly earnings before interest, taxes, depreciation and amortization (EBITDA) of 131 million euros ($154 million), compared with a company-provided analysts' consensus of 112 million euros and a year-ago result of 79.6 million euros.
Market Share and Competition
Onshore wind accounted for around 90% of installed wind capacity in Europe last year. Nordex competes there with Vestas and Siemens Energy, with the three companies receiving around two-thirds of all of Europe's turbine orders in 2025, according to analysis by market research firm Mordor Intelligence.
Order Intake and Regional Performance
The company had reported a first-quarter order intake of 1.87 GW in mid-April.
Management Commentary and Outlook
"The continued demand in our core markets and an EBITDA margin exceeding 8% already in the first quarter confirm that we are on track to deliver on our guidance for 2026," Nordex CEO José Luis Blanco said in a statement.
Sales and Operational Challenges
Nordex reported sales of 1.59 billion euros for the first three months of the year, and said it had faced temporary delays at a supplier factory in Turkey during the quarter.
Key Markets and Installations
Germany, Turkey and Sweden are the company's strongest markets. Nordex installed around 85% of its turbines in Europe during the first quarter.
Additional Information
($1 = 0.8529 euros)
(Reporting by Danny Callaghan in Gdansk; editing by Milla Nissi-Prussak)
