Q2 2026 Nordex SE Earnings Call Transcript
Key Points
- Nordex SE (NRDXF) reported a 32% year-on-year increase in order intake, reaching 3.1 gigawatts, with Europe being the largest contributor.
- The company achieved a 16% year-on-year revenue growth, totaling EUR2.2 billion, with project revenues growing by 18%.
- Nordex SE (NRDXF) improved its EBITDA margin to 10.3%, a 450 basis point increase from the previous year.
- The company generated a healthy free cash flow of EUR165 million and maintained a strong net cash position of EUR1.7 billion.
- Nordex SE (NRDXF) successfully reestablished its presence in the US market, securing around 800 megawatts of orders and progressing well with its Iowa facility ramp-up.
- The reduction in installations year-on-year was primarily driven by project scheduling and regional mix effects, including customer delays in Turkiye.
- Despite strong production levels, there was no corresponding increase in inventory, raising questions about revenue recognition and inventory management.
- The company faces potential risks related to transportation permits in Germany due to high market activity.
- There are concerns about the impact of future turbine pricing normalization in Germany, which could affect margin targets.
- Nordex SE (NRDXF) has seen an increase in impairment of trade receivables, raising questions about customer payment reliability.
Ladies and gentlemen, welcome to the Q2 figures 2026 conference call. I'm Moritz, the Chorus Call operator. I would like to remind you that all participants will be in a listen-only mode, and the conference is being recorded. (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, Moritz. A warm welcome from the Nordex team in Hamburg. Thank you for joining the Q2 2026 results management call. As always, we ask you to take notice of our Safe Harbor statement. With me are our CEO, José Luis Blanco; and our CFO, Ilya Hartmann, who will lead you through the presentation. Afterwards, we will open the floor for your questions.
Now, I would like to hand over to you, José Luis.
© -
Thank you very much for the introduction, Anja. And on behalf of the Management Board,
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