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.
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%.
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.
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.
"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.
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.
"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
Source: Reuters