German Wind Turbine Manufacturer Nordex Reports Strong Performance in H1 2023


Hamburg – the wind energy manufacturer Nordex has successfully completed the first half of 2023 with impressive results. Sales increased to approximately EUR 2.8 billion, a significant rise from EUR 2.1 billion in H1 2022. Notably, the company achieved a breakeven EBITDA margin in Q2, leading to an improved H1 EBITDA margin of minus 4.2 percent (in comparison to minus 8.1 percent in H1 2022).

During the first half of the year, the Germany based Nordex Group’s order intake remained steady, with new orders worth EUR 2,354 million, attributed to 16 European countries. The order book stood at EUR 9.8 billion, indicating a robust pipeline for future projects.

In H1 2023, the Group installed 632 wind turbines, with a total output of 3.1 gigawatts in 22 countries, marking a substantial increase in installations. This growth significantly impacted sales in the Projects segment, which reached EUR 2.5 billion. Additionally, the Service segment experienced a 35 percent surge in sales, totaling EUR 305 million in H1 2023 (H1 2022: EUR 226 million).

José Luis Blanco, CEO of the Nordex Group, expressed satisfaction with the results, stating, “The second quarter performance was in line with our expectations. We have improved our installation run rate compared with the previous year and further strengthened our balance sheet through a couple of transactions. Our order intake momentum continues to be healthy as we enter the second half of the year. The aim is to continue this path and process our orders efficiently and successfully.”

The management has confirmed their guidance for 2023 and the mid-term strategic target of achieving an 8 percent EBITDA margin. With robust sales growth, improved EBITDA margin, and a strong order book, the Nordex Group is poised for a promising future as it continues to be one of the leaders in the wind energy sector.

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