Finance
Nordex eyes U.S. expansion after record profits
Published by Global Banking & Finance Review®
Posted on February 25, 2026
2 min readLast updated: February 25, 2026
Tags:renewable energy
Quick Summary
Nordex beat expectations with €631m EBITDA for 2025 and lifted its margin target to 10–12%, guiding 2026 sales to €8.2–€9.0bn. The CEO is targeting renewed US growth after a record 10.2 GW order intake.
Nordex Targets U.S. Growth After Record 2025 Profit and Order Intake
(Corrects analyst's name in para 9)
By Danny Callaghan and Bernadette Hogg
Results and U.S. Expansion Strategy
Feb 25 (Reuters) - Onshore wind turbine manufacturer Nordex said it was targeting U.S. expansion after reporting on Wednesday better-than-expected 2025 core profit, helped by a record order intake for the second consecutive year.
2025 Financial Performance
The German company reported earnings before interest, taxes, depreciation and amortization (EBITDA) of 631 million euros ($745 million) in 2025, compared with a company-provided consensus of 472 million euros and a year-ago figure of 296 million euros. It also raised its mid-term EBITDA margin target to 10% to 12%.
Stock Market Reaction
Shares in the MDAX-listed company jumped 13.4% at the market open. The stock has roughly tripled since the start of 2025 amid high demand in Europe for wind energy, driven by Germany.
U.S. Market Strategy and Share Goals
Chief Executive José Luis Blanco told Reuters on Wednesday he is optimistic Nordex can increase its market share in the United States. in the long-run.
Long-Term Demand Drivers
"In the past, we used to have 20% market share. This was reduced," Blanco said. "I'm very optimistic that we can get back to that market share; the size of that market remains to be seen. It depends a little bit on the presidential view on that."
On a megawatt basis, Nordex installed 4% of its turbines in 2025 in North America.
"This market long term, in my view, should be sizable as the German market, or bigger than the German market," Blanco added, pointing to the "massive contribution" data centres are having on energy demand in the U.S.
Record Order Intake and Sales Outlook
Nordex reported in January a record order intake in 2025, totalling 10.2 gigawatts. It aims for consolidated sales between 8.2 to 9.0 billion euros for the current year, up from 7.6 billion euros in 2025.
Analyst Commentary
"Nordex has never been this big and they've never been so established as they are now," Constantin Hesse, analyst at Jefferies, told Reuters on Friday.
(Reporting by Danny Callaghan and Bernadette Hogg; editing by Matt Scuffham)
Key Takeaways
- •Nordex reported 2025 EBITDA of €631m, beating a €472m consensus, and raised its mid-term EBITDA margin target to 10-12%.
- •Record 2025 order intake reached 10.2 GW, supporting guidance for 2026 sales of €8.2–€9.0bn.
- •CEO José Luis Blanco aims to regain about 20% U.S. market share, citing rising data-center demand.
- •Shares jumped around 13% at the open as sentiment improved on profitability and outlook.
- •Only 4% of 2025 installations were in North America, underscoring the U.S. growth focus.
Frequently Asked Questions about Nordex eyes U.S. expansion after record profits
1What is the main topic?
Nordex reported stronger-than-expected 2025 profits and outlined plans to expand in the United States, aiming to rebuild market share on the back of record orders and improved margins.
2How did Nordex perform financially in 2025?
The company posted €631 million in EBITDA, above consensus, and raised its mid-term EBITDA margin target to 10–12% following a record 10.2 GW order intake.
3What are Nordex’s plans for the U.S. market?
CEO José Luis Blanco said Nordex aims to regain roughly 20% market share in the U.S. over time, supported by rising energy needs from data centers and a strong global order pipeline.
