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Investing.com -- Wind turbine manufacturer Nordex (ETR:NDXG) reported a sharp rise in first-quarter order intake to 2.2 gigawatts, beating market expectations by a wide margin and pushing shares more than 5% higher on Thursday.
The company secured 2,182 megawatts of orders in its Projects segment (excluding its Service business) in the January to March period, up 5% from 2,086 MW a year earlier.
The order intake significantly outperformed consensus estimates of around 1.4 GW, according to a note from Jefferies, which described the result as nearly 50% ahead of expectations.
Average sales price also rose, reaching 870,000 euros per MW, up 2% from the previous year, suggesting pricing stability in a competitive market.
Based on the reported volumes and pricing, Jefferies estimates the total order value at about 1.9 billion euros, roughly 630 million euros above market forecasts.
Orders in the quarter covered 337 wind turbines across 10 countries, with Türkiye, Germany and Finland cited as the top-performing markets. Latvia and Brazil also made notable contributions.
The company’s strong performance comes amid broader relief in equity markets following former U.S. President Donald Trump's announcement of a 90-day pause on new tariffs, which added to the positive sentiment around industrial stocks, Jefferies noted.
CEO José Luis Blanco said the company was building on momentum from recent quarters and expects continued order strength in its core and emerging markets.
“We remain committed to our plans for 2025 to win further orders in our core regions inside and outside Europe,” he said in a statement.
Nordex has installed roughly 57 GW of wind capacity across more than 40 markets and posted 2024 sales of 7.3 billion euros.
It employs more than 10,400 people and operates manufacturing facilities in Germany, Spain, Brazil, India, the U.S. and Mexico.
The group’s turbine range focuses on the 4 to 6 megawatt-plus segment, aimed at regions with limited space or grid capacity.
“In addition to the overall stock market relief today following Trump's 90-day pause in additional tariffs, we expect Nordex to outperform,” Jefferies said.