Nordex SE Orders Surge 30% in Q3, Stock Rises

Nordex SE saw its order intake jump nearly 30% year-over-year in the third quarter, reaching 2.8 gigawatts, according to a company announcement on October 12, 2026. The surge in orders, driven by demand in Türkiye, Germany, and the United States, spurred a corresponding increase in the company’s stock price, which rose over 3% in trading Monday morning.

The positive market reaction was further bolstered by analyst upgrades. Both Berenberg and Jefferies reaffirmed their ‘Buy’ ratings for Nordex, with Berenberg setting a price target of €58 and Jefferies raising theirs to €60. Jefferies analyst Constantin Hesse noted the order intake exceeded consensus estimates by 13%, while Berenberg’s Richard Dawson highlighted the strong overall performance of new orders.

Despite the increase in order volume, the average selling price saw a slight decline, falling from €0.93 million per megawatt in the prior-year period to €0.90 million. However, this decrease appears to be offset by the overall increase in order volume. Year-to-date, total order intake reached approximately 7.7 gigawatts, representing a 16% increase compared to the same period last year, with the average sales price increasing slightly to €0.93 million/MW.

Nordex CEO José Luis Blanco stated the company’s order intake is becoming increasingly international, with projects secured in 10 countries during the third quarter. The company’s stock has experienced a significant recovery since the beginning of the year, gaining over 25%, although it remains approximately 30% below its April peak. The combination of increased order volume and positive analyst sentiment signals a favorable shift in momentum for Nordex, despite the slight pressure on average selling prices.