Renewable Energy Equipment Manufacturing / Specialty Industrial Machinery
Strategic Profile
In Q3 2025, Nordex demonstrated 25.7% surge in order intake and 90.1% EBITDA rise. Strong order growth, expanding market opportunities, and high service renewal rates position Nordex for robust recurring revenue and sustainable profit improvement. Industry shifts and consolidation give Nordex pricing power and supply chain stability, supporting margin expansion and geographical revenue diversification.
Cyborg Score Rationale
Nordex demonstrates exceptional momentum with triple-digit EBITDA growth, robust order intake, and strategic expansion across multiple geographies including North America and Europe. However, exposure to regulatory risks and European market concentration presents ongoing vulnerabilities.
Top Insights
Record Q3 2025 performance with 25.7% order intake growth and 90.1% EBITDA expansion
Significant recent order wins totaling 884 MW across Spain (246 MW), France/Belgium/Portugal (414 MW), and Canada (200 MW)
Recurring revenue stream from high-margin service and maintenance contracts covering installed base
Global manufacturing footprint across Germany, Spain, Brazil, US, and India reduces supply chain concentration
Named Competitors
Vestas — Global wind turbine manufacturer
Siemens Energy — Renewable energy equipment and services
GE Renewable Energy — Wind turbine systems and solutions
Recent Developments
(January 2026) Nordex secures 246 MW in orders from Spanish independent power producers
(January 2026) Orders totaling 414 MW obtained in France, Belgium, and Portugal
(December 2025) 200 MW order awarded for Canadian wind energy projects
(November 2025) 90 MW Turkish order from ADY Akdeniz Rüzgar Enerjisi
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