Nordex stock weighs New Zealand entry against higher margins

Nordex is heading into its full third-quarter release with two developments in focus: a first order in New Zealand and a higher profitability outlook. The company announced the New Zealand order on October 22, while its preliminary Q3 update and guidance revision were published on October 15.

Expansion Adds Long-Term Service Work

Mercury ordered 40 N133/4.8 turbines with total capacity of 192 megawatts for the Puke Kapo Hau wind farm in Otago. The agreement includes comprehensive operations and maintenance services for 30 years, with installation of the first turbine scheduled for early 2028 and first-unit commissioning planned for mid-2028.

The details were reported in AD HOC NEWS. The project gives Nordex a new country foothold while adding a long-duration service relationship to its turbine supply business.

Margin Outlook Moves Higher

In its October 15 release, Nordex said preliminary third-quarter revenue was 2.187 billion euros, compared with 1.706 billion euros a year earlier. Preliminary EBITDA was 278 million euros, versus 136 million euros in the prior-year quarter, producing a preliminary margin of 12.7 percent against 8.0 percent.

Nordex raised its full-year 2026 EBITDA margin guidance to 11.5 percent to 12.5 percent from 8.0 percent to 11.0 percent. The company cited higher Service segment margins and strong project execution, while risks previously assumed in Projects had not materialized to the expected extent.

Results Set the Next Test

Nordex stock traded at 37.57 euros on Lang & Schwarz at 16:07 CET on Friday, October 30, 2026, 2.77 percent below the Xetra close of Thursday, October 29, at 38.64 euros. The latest price is also 1.62 percent below the 38.19-euro level in the previous report published on October 29 at 10:08 CET, a separate comparison from the Xetra daily move.

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Nordex is scheduled to publish its full third-quarter results and hold its conference call on November 5, 2026. The release should show whether the preliminary margin improvement is confirmed and how Service and Projects performance translated into cash generation. See more news and analyses on Nordex stock.