Nordex Se · XETR:NDX1
Nordex — Non-Deal Roadshow (August 2026)
26 slides from Nordex's roadshow presentation, August 2026
Slide 1: Nordex SE Roadshow Presentation
| Nordex SE Roadshow Presentation August/September/October 2026 Nordex Group Nordex SE | August/September/October 2026
Slide 2: Nordex: a pioneer in onshore wind with over 40 years of experience
2 | Company overview Nordex: a pioneer in onshore wind with over 40 years of experience Free Cashflow €16.0 bn Over 40 years of €863m and €7.6 bn #1 industry leader Leading product in combined at the forefront of cash level of in Sales in Europe and #2 the >4 MW order book technological €1.9bn (FY 2
Slide 3: From volatility to profitable growth: Delivering the course we set
3 | Company overview From volatility to profitable growth: Delivering the course we set Period of volatility Stabilization Profitable growth Key actions behind the turnaround (2021-2022) (2023-2024) (2025+) Revenue growth (€bn) › Strengthened market positioning 7.3 7.6 through a focused strategy & c
Slide 4: Mid term target achieved: Setting a new ambitious path ahead
4 | Company overview Mid term target achieved: Setting a new ambitious path ahead 10.2 GW 1 2026 guidance › Sustainable improvement Order intake +23% YoY across all KPIs 8.4% 2 Capital allocation › Introducing shareholders return policy EBITDA margin +430 bps YoY 3 Mid-term target €863 m › Upgrading
Slide 5: Increasing market share continued: 2025 leader in Europe and rebuilding in Americas
5 | Company overview Increasing market share continued: 2025 leader in Europe and re- building our position in Americas Global market share (ex-China) #1 in Europe 4th year in a row Rebuilding market share in Americas (total c.57 GW order intake) (total c.19 GW order intake) (total c.11 GW order int
Slide 6: Capital allocation policy: balancing growth investments and shareholder returns
6 | Company overview Capital allocation policy: balancing growth investments and shareholder returns 1› Maintaining financial flexibility Introducing our ‘Shareholders Return’ Policy’: › Sustaining a strong balance sheet with ample › Nordex is committed to delivering predictable and liquidity to nav
Slide 7: H1/2026: Momentum continues with strong margins and solid FCF
7 | Introduction H1/2026: Momentum continues with strong margins and solid FCF Healthy pipeline & 1,300 MW US orders Project order intake ✓ Europe represented 83% of total project order intake 4.9 GW 10% YoY ✓ Germany and the US were the largest markets Strong revenue growth Total revenues ✓ Project
Slide 8: Guidance for FY 2026: Profitable growth expected to accelerate
8 | Company overview Guidance for FY 2026: Profitable growth expected to accelerate FY 2024 FY 2025 H1/2026 Guidance 2026 Sales: €7.3 bn €7.6 bn €3.8 bn €8.2 – 9.0 bn EBITDA margin: 4.1% 8.4% 9.4% 8.0% - 11.0% Working capital ratio: -9.1% -12.4% -8.3% below -9% CAPEX: €153 m €169 m €73 m approx. €20
Slide 9: On track to achieve the sustainable 10-12% mid-term EBITDA margin target
9 | Company overview On track to achieve the sustainable 10-12% mid-term EBITDA margin target: H1 2026 actuals confirm progress Mid term target: EBITDA margin bridge Status update 1 Volume 3 2 ✓› Sales grew by 14% YoY ✓› Strong order intake in H1 including 1 H1/2026: 9.4% orders in the US 10-12% EBI
Slide 10: Policy support and auction activity underpin long-term market growth
10 | Company overview Policy support and auction activity underpin long-term market growth 1 Nordex strengthening its position in Europe and North America Onshore installation forecast1 › Germany: ~6 GW auctioned YTD, with total 2026 auction volume (ex-China) expected at ~12 GW; auction prices norma
Slide 11: Building momentum in the US
11 | Company overview 1 Building momentum in the US › c.800 MW of orders booked from a healthy mix of US Utilities, Geographic footprint American and international IPPs as of June 30 › Further customer engagement ongoing › Factory ramp up progressing Iowa Plant Chicago Office › Proven track record w
Slide 12: Targeting improved service margins
12 | Company overview Targeting improved service margins: Product mix and efficiencies measures 2 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
Slide 13: Implementing targeted initiatives: Strengthen profitability in the long-term
13 | Company overview Implementing targeted initiatives: Strengthen profitability in the long- 3 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 14: Historical data
14 | Appendix Historical data Nordex SE | August/September/October 2026
Slide 15: Project quarterly order intake and installations
15 | Appendix Project quarterly order intake and installations Order intake development in MW FY 2024: 8,336 MW FY 2025: 10,214 MW H1 2026: 4,923 MW 3,552 3,253 3,054 2,182 2,310 2,170 2,086 1,726 1,869 1,271 Q1/2024 Q2/2024 Q3/2024 Q4/2024 Q1/2025 Q2/2025 Q3/2025 Q4/2025 Q1/2026 Q2/2026 Installatio
Slide 16: Quarterly order intake development
16 | Appendix Quarterly order intake development Order intake development in € m Service Projects FY 2024: € 7,461 m FY 2025: C 9,321 m H1 2026: C 4,683 m FY 2024: € 1,981 m FY 2025: € 1,681 m H1 2026: C 1,202 m 3,738 3,495 3,402 563 512 519 2,682 438 2,390 2,239 2,283 2,298 2,074 287 393 683 309 1,
Slide 17: Quarterly order book development
17 | Appendix Quarterly order book development Order book development in € m Service Projects 18,385 16,969 16,094 14,912 14,326 6,807 13,457 6,473 12,778 5,972 11,495 5,588 11,125 11,032 5,473 5,208 4,974 3,791 4,142 4,642 11,578 10,122 10,495 8,853 9,324 7,804 8,249 7,333 6,890 6,853 Q1/2024 Q2/20
Slide 18: Key financial KPIs development
18 | Appendix Key financial KPIs development Sales (€bn) EBITDA (€m) Margins (%) Project Service Gross1 EBITDA EBIT 29.4 28.0 27.8 26.9 24.8 2,539 307 12.1 2,179 10.3 1,874 224 8.0 8.2 1,706 1,588 5.8 10.0 136 131 8.1 108 5.5 5.6 3.5 Q2/ Q3/ Q4/ Q1/ Q2/ Q2/ Q3/ Q4/ Q1/ Q2/ Q2/ Q3/ Q4/ Q1/ Q2/ 2025 2
Slide 19: Quarterly income statement development
19 | Appendix Quarterly income statement development Q2/ Q3/ Q4/ Q1/ Q2/ Q3/ Q4/ Q1/ Q2/ in € m1 2024 2024 2024 2025 2025 2025 2025 2026 2026 Sales 1,860 1,671 2,194 1,435 1,874 1,706 2,539 1,588 2,179 Total revenues 1,796 1,593 2,153 1,555 1,853 1,803 2,544 1,581 2,128 Cost of materials -1,437 1,23
Slide 20: Quarterly balance sheet development
20 | Appendix Quarterly balance sheet development in € m1 30.06.24 30.09.24 31.12.24 31.03.25 30.06.25 30.09.25 31.12.25 31.03.26 30.06.26 Current assets 3,410 3,355 3,602 3,609 3,616 3,822 4,751 4,783 4,942 Non-current assets 2,038 1,954 2,029 2,026 2,052 2,067 2,001 2,123 2,127 Total assets 5,448
Slide 21: Quarterly cash flow statement development
21 | Appendix Quarterly cash flow statement development Q2/ Q3/ Q4/ Q1/ Q2/ Q3/ Q4/ Q1/ Q2/ in € m1 2024 2024 2024 2025 2025 2025 2025 2026 2026 Cash flow from operating activities before net 79 193 176 97 232 125 291 175 267 working capital Cash flow from changes 51 -9 142 -71 -54 55 341 -244 -27 i
Slide 22: Quarterly segment results development
22 | Appendix Quarterly segment results development Q2/ Q3/ Q4/ Q1/ Q2/ Q3/ Q4/ Q1/ Q2/ in € m1 2024 2024 2024 2025 2025 2025 2025 2026 2026 Projects sales 1,688 1,474 1,968 1,245 1,670 1,505 2,316 1,378 1,963 Service sales 177 201 233 197 207 219 240 218 223 Not allocated + -5 -4 -7 -6 -3 -18 -17 -
Slide 23: Quarterly working capital development
23 | Appendix Quarterly working capital development Q2/ Q3/ Q4/ Q1/ Q2/ Q3/ Q4/ Q1/ Q2/ in € m1 2024 2024 2024 2025 2025 2025 2025 2026 2026 Trade receivables 171 195 241 259 315 218 197 217 158 Contract assets from 1,027 796 838 809 774 931 1,305 1,303 1,358 projects Inventories 1,022 1,102 909 982
Slide 24: Quarterly net cash development
24 | Appendix Quarterly net cash development Q2/ Q3/ Q4/ Q1/ Q2/ Q3/ Q4/ Q1/ Q2/ in € m1 2024 2024 2024 2025 2025 2025 2025 2026 2026 Current liabilities to -39 -31 -38 -44 -36 -34 -34 -34 -10 banks Non-current liabilities to -7 -7 -7 0 0 0 0 0 0 banks Convertible bond -253 -259 -258 -265 -264 -271
Slide 25: Key financial metrics – annual base
25 | Appendix Key financial metrics – annual base in € m1 FY 2022 FY 2023 FY 2024 FY 2025 H1/2026 Sales 5,694 6,489 7,298 7,554 3,767 Total revenues 5,991 6,551 7,000 7,754 3,708 Cost of materials -5,505 -5,566 -5,465 -5,716 -2,657 Gross profit 486 985 1,535 2,039 1,051 Personnel costs -588 -630 -72
Slide 26: Contact details
26 | Contact details IF YOU HAVE ANY QUESTIONS PLEASE CONTACT: Anja K. Siehler Head of Investor Relations phone: +49 (0)162 351 53 34 email: asiehler@nordex-online.com Tobias Vossberg Director Investor Relations phone: +49 (0)173 4573 63 3 email: tvossberg@nordex-online.com Rafaela Gunzburger Manage