Nordex has published its annual financial statements for 2024, reporting solid growth and meeting all financial targets.
Group sales increased by 12.5% to €7.3 billion (2023: €6.5 billion), while total performance, including inventory changes, rose by 7% to €7.0 billion (2023: €6.5 billion).
Earnings before interest, taxes, depreciation, and amortization (EBITDA) improved to €296 million in 2024 (2023: €2 million), with a margin of 4.1% (2023: 0%), slightly exceeding the upper end of the 2024 guidance range. The EBITDA margin improved throughout the year, reaching 4.9% in the fourth quarter (Q4 2023: 3.4%), with an absolute EBITDA of €107 million (Q4 2023: €69 million).
Order intake for the Projects segment totaled 8.3 GW, a 13% increase from 7.4 GW in 2023, with a total order value of €7.5 billion (2023: €6.2 billion), up 20%. Orders were received from 24 countries and covered a variety of turbine models.
Order intake in the Service segment more than doubled, rising by 114% to €1.98 billion (2023: €924 million). This includes both service contracts for new turbines and extensions of expired agreements.
By the end of 2024, Nordex’s total order book stood at €12.8 billion (2023: €10.5 billion), comprising €7.8 billion (2023: €6.9 billion) in the Projects segment and €5.0 billion (2023: €3.6 billion) in the Service segment.
Turbine assembly production in 2024 reached 7,609 MW, slightly down from 7,985 MW in 2023. Rotor blade production increased by 17% to 5,421 units (2023: 4,635 units), with 28% produced in-house (2023: 25%) and 72% sourced externally (2023: 75%).
Nordex installed 1,227 wind turbines across 25 countries in 2024, totaling 6.6 GW, compared to 1,429 turbines with a total capacity of 7.3 GW in 2023. Of the total installations (in MW), 71% were in Europe, 16% in Latin America, 7% in the “Rest of the World” region, and 6% in North America.
Sales in the Projects segment grew by 12% to €6.5 billion (2023: €5.8 billion), while the Service segment saw a 14% increase, reaching €777 million (2023: €679 million).
