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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Nordex
Nordex (NDX1) investor relations material
Nordex Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary5 Nov, 2026
Executive summary
Q3 sales rose 28.2% YoY to €2.187bn; EBITDA reached €278.2m, with a 12.7% margin, and net income was €147.1m.
Free cash flow was €379.1m; FY2026 EBITDA margin guidance rose to 11.5%–12.5%.
Project order intake increased 30% to 2.81 GW, and the combined order book exceeded €19bn.
Financial highlights
Gross margin was 26.7%, versus 28.0% in Q3 2025; gross profit reached €583m.
EBIT increased to €233m from €94m; net income rose to €147m from €52m.
Q3 free cash flow was €379.1m versus €149.0m YoY; operating cash flow was €375m.
Financial result was -€17m versus -€13m YoY, with financing costs rising slightly as order intake increased use of the bank guarantee facility.
Outlook and guidance
FY2026 sales guidance remained €8.2bn–€9.0bn; EBITDA margin guidance rose from 8.0%–11.0% to 11.5%–12.5%.
Working capital ratio guidance remained below -9%; planned CAPEX was ~€200m.
Management said the upper end of its 10%–12% mid-term EBITDA margin target was within reach and expected strong full-year free cash flow.
Good order momentum is expected into Q4; management is focused on executing a high-volume quarter, with 2027 guidance due early next year.
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Latest events from Nordex
- Q2 2026 saw double-digit EBITDA margin, strong order intake, and confirmed full-year guidance.NDX1
Q2 2026 - Q1 2026 delivered strong sales, margin gains, and a robust order book, reaffirming 2026 guidance.NDX1Q1 2026
- Record 2025 results, margin expansion, and new shareholder return policy signal strong growth.NDX1Q4 2025
- 2025 EBITDA margin guidance raised to 7.5%-8.5% after strong Q3 and service recovery.NDX1Q3 2025 TU
- Net income rebounded, margins improved, and order intake surged, supporting a strong outlook.NDX1Q2 2025
- EBITDA margin turned positive on 14% sales growth, with guidance reaffirmed.NDX1Q3 2024
- EBITDA margin improved to 3.4% in H1 2024, with strong sales and positive cash flow.NDX1Q2 2024
- Q1 2025 delivered higher margins, positive cash flow, and strong order growth.NDX1Q1 2025
- Record order intake, margin recovery, and strong cash flow set stage for further growth in 2025.NDX1Q4 2024
Next Nordex earnings date
Q4 202624 Feb, 2027
Nordex
Next Nordex earnings date
Q4 202624 Feb, 2027
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Frequently asked questions
Nordex SE is a manufacturer and supplier of wind turbines and related services for the global renewable energy sector. The company designs, produces, and installs onshore wind turbines, offering a range of solutions for different wind conditions and environments. Nordex also provides maintenance and optimization services to enhance the performance and lifespan of its wind energy systems. Its primary customers include utility companies, independent power producers, and industrial firms seeking to invest in sustainable energy solutions. The company is headquartered in Hamburg, Germany, and its shares are listed on the XETRA.