Q1 2026 Nordex SE Earnings Call Transcript
Key Points
- Nordex SE (NRDXF) reported an 11% year-on-year revenue growth, reaching EUR1.6 billion in Q1 2026.
- The company achieved an EBITDA margin of 8.2%, a significant improvement from 5.5% in the previous year.
- Nordex SE (NRDXF) maintained a strong cash position with EUR1.8 billion at the end of the first quarter.
- Service revenue increased by 11% year-on-year, with the service EBIT margin improving to 19.2%.
- The order book remains robust, with a combined value close to EUR17 billion, supporting planning visibility and reflecting the expansion of the installed base.
- Project order intake was slightly down year-on-year, amounting to 1.9 gigawatts, due to a strong comparison base from the previous year.
- Free cash flow was negative at minus EUR98 million in the first quarter.
- There are concerns about potential supply chain disruptions and cost inflation impacting future margins, particularly in 2027.
- The company faces challenges in maintaining pricing power amidst declining auction prices in key markets like Germany.
- Nordex SE (NRDXF) is cautious about geopolitical developments potentially affecting market stability and supply chain security.
Ladies and gentlemen, welcome to the Q1 figures 2026 conference call. I'm Lorenzo, the Chorus call operator. (Operator Instructions). The conference must not be recorded for publication or broadcast.
At this time, it's my pleasure to hand over to Anja Siehler. Please go ahead.
Thanks, Lorenzo, and a very warm welcome from the Nordics team in Hamburg. Thank you for joining the Q1 2026 Results Management Call. As always, we take we ask you to take notice of our safe harbor statements. With me are our CEO, Jose Luis Blanco; and our CFO, Dr. Elia Hartman, who will lead you through the presentation.
Afterwards, we will open the floor for your questions. And now I would like to hand over to Jose Luis. Please go ahead.
Thank you very much for the introduction, Anja. As as well on behalf of the management Board, would like you to welcome to our first quarter result of 2026. Let's start with a recap of the first three
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