Nordex Se · XETR:NDX1
Nordex — FY2025 Earnings Presentation
9 slides from Nordex's earnings presentation, Feb 26, 2026
Slide 1: Analyst roundtable: Levers of profitable growth
| Analyst roundtable: Levers of profitable growth Nordex Group February 26, 2026 Financial figures FY 2025 | 26 February 2026
Slide 2: A strengthened and stabilized Nordex
2 | Introduction A strengthened and stabilized Nordex KPIs are improving (€m) Sales Total cash EBITDA Margin FCF yield 2025 = 13% ROE 2025 = 21% 8,600 ✓ Top line growth 7,554 7,299 › On track to deliver close to 4 times 6,489 5,694 higher revenue compared to 2015 5,444 EBITDA 4,651 margin outlook 3,
Slide 3: Key levers to achieving mid-term target
3 | Guidance and outlook Key levers to achieving mid-term target Path to the new mid term target based on three well-identified levers EBITDA margin (%) 3 Efficiency measures: 10-12% 14 Improved execution and [Indicative EBIT 2 Service profitability: optimised supply chain margin ~8-10%] Service EBI
Slide 4: Sustained volume growth expected
4 | Volume Sustained volume growth expected 1 Driven by strategic focus on growth markets and customer partnerships Europe North America ROW Onshore installation forecast1 (GW) Onshore installation forecast1 (GW) Onshore installation forecast1 (GW) Germany2 Europe Ex Germany Canada USA LatAm RoW ex-
Slide 5: Deep dive Germany: significant market visibility with growing pipeline
5 | Volume Deep dive Germany 1 Significant market visibility with consistently growing pipeline German Auction Volume1 and Installations2 (GW) Auction volume Installation incremental pipeline 9.2 GW 14.4 7.7 GW 0.8 GWe 11.0 11.0 Additional 10.2 10GW p.a. of 2.8 GW auction volumes targeted until 6.4
Slide 6: Constant platform innovation driving growth
6 | Volume Constant platform innovation driving growth 1 New variants with higher output successfully taking over 2020 OI by platform (MW) N90 AW132 N163 N100 Model N133 / 4.8 N149 / 4.X N149 / 5.X N163 / 5.X N163 / 6.X N175 / 6.X 4% N117 15% 1% 0% 10% N155 N131 4% 4% Intro. date 2018 2017 2019 2019
Slide 7: Targeting improved service margins
7 | Service Targeting improved service margins 2 Product mix and efficiencies measures to drive further improvement 7.5 Service order book (€m) Service sales growth (€m) 5,972 Constant › Consistent growth in service Growth 4,974 sales fueled by strong service order 3,626 +13% intake over recent year
Slide 8: Implementing targeted initiatives
8 | Efficiency measures Implementing targeted initiatives 3 Strengthen profitability in the long-term Continued efficiency measures – Few examples Driving further supply Ensuring lean fixed cost Optimizing financing chain efficiencies base costs ✓ Further expansion of the Asian ✓ Keep a tight contro
Slide 9: Nordex has transformed the business over the last 5 years and aims to deliver more
9 | Summary Nordex has transformed the business over the last 5 years and aims to deliver more 2020 2025 New mid-term outlook Initiated 8% Delivering on what we promised Setting up for further growth EBITDA target 10.2GW OI #1 in Europe and global #2 consistently in OI 6.0 GW Order intake €7.6bn Sal