Stock Markets July 9, 2026 04:34 AM

Nordex Shares Climb as Project Orders Jump; U.S. Intake Hits Milestone

German turbine maker posts strong Q2 project bookings and modest pricing gains in first half of 2026

By Priya Menon
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Nordex SE shares rose more than 4% after the company reported 3,054 megawatts of order intake in its Projects segment for Q2 2026, a 32.2% increase year-on-year. First-half order intake reached 4,923 megawatts, while average sales prices were stable in the quarter and rose modestly for the first half, driven by project scope and regional mix.

Nordex Shares Climb as Project Orders Jump; U.S. Intake Hits Milestone
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Key Points

  • Nordex recorded 3,054 megawatts of Projects order intake in Q2 2026, a 32.2% increase versus Q2 2025.
  • First-half 2026 order intake was 4,923 megawatts, up 9.6% from H1 2025; average sales price per megawatt was 0.97 million euros in Q2 and 0.95 million euros in H1.
  • Customers ordered 496 turbines for projects in 10 countries in Q2, with Germany, the United States and Türkiye the strongest markets.

Shares in Nordex SE rose by over 4% on Thursday after the German onshore wind turbine manufacturer disclosed a significant increase in project orders for the second quarter of 2026.

Order volumes and short-term pricing

Nordex reported order intake of 3,054 megawatts in its Projects segment for Q2 2026, excluding service business. That figure represents a 32.2% rise from 2,310 megawatts recorded in the same quarter of 2025. For the first half of 2026, order intake totaled 4,923 megawatts, up 9.6% from 4,492 megawatts in the first half of 2025.

The company said the average sales price per megawatt of capacity was 0.97 million euros in the second quarter, unchanged from Q2 2025. Across the first half of the year, the average sales price increased to 0.95 million euros per megawatt from 0.92 million euros per megawatt a year earlier. Nordex attributed the first-half rise primarily to project scope and regional mix effects.

Geographic mix and project activity

Between April and June, customers ordered a total of 496 wind turbines for projects in 10 countries. The strongest individual markets for turbine orders in the quarter were Germany, the United States and Türkiye.

"With an order intake of around 800 megawatts in the US this quarter, we’ve reached an important milestone. It reflects the trust our customers place in us and the strength of our organisation in the American market. We remain focused on reliable execution as we continue to grow alongside our customers," said Jose Luis Blanco, chief executive officer of the Nordex Group.

Company footprint and product range

Nordex said it has commissioned more than 64 gigawatts of wind power capacity across more than 40 markets since 1985. In 2025 the company reported consolidated sales of around 7.6 billion euros. It employs more than 11,100 people and operates manufacturing facilities in Germany, Spain, Brazil, India, the United States and Türkiye.

The company’s product portfolio concentrates on onshore turbines in the 4 to 7 megawatt-plus classes.


Contextual note - The figures reported above relate specifically to the Projects segment order intake excluding service business and to average sales prices per megawatt as disclosed by Nordex.

Risks

  • Execution risk as Nordex scales in the US and other markets - the company emphasized its focus on reliable execution while expanding, highlighting potential delivery or operational challenges that could affect project conversion and timelines (affects industrials and construction supply chains).
  • Price variability driven by project scope and regional mix - Nordex noted that average sales price movements are primarily due to these factors, indicating revenue per-megawatt can fluctuate with contract scope and geographic mix (affects revenue forecasting and margins in renewables manufacturing).
  • Concentration in a few strong markets - while orders came from 10 countries, Germany, the United States and Türkiye were the strongest markets in the quarter, which could create exposure to region-specific policy or market shifts (affects regional power markets and turbine manufacturers).

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