Nordex, a manufacturer of wind turbines, expects a stronger second half following the 2024 profit forecast.

Nordex, a German wind turbine manufacturer, reported Thursday that its core earnings for the full year were above analyst estimates. The company reported earnings before interest tax, depreciation, and amortization (EBITDA), of 296 millions euros ($309.79) in 2024. This was above the analyst consensus of 284million euros.

Nordex's EBITDA margin for the full year was 4.1%, which is slightly above its highest guidance.

The company, which is in competition with GE Vernova, Siemens Energy and others in the onshore wind market, said that it also expects to achieve an EBITDA of between 5.0% and 7.00% in 2025, and reiterated their medium-term EBITDA target.

Nordex has now confirmed that its second-half sales and profits will be slightly higher than the first half. This is in line with what it said in January, after it released a record order intake for 2025.

"We have a high order book, as we achieved a record-breaking order intake in the year 2024." The Nordex Group CEO, Jose Luis Blanco said that this success was due to the strong momentum of our project and service business. ($1 = 0.9555 euros) (Reporting and editing by Himani Sarkar in Gdansk, Marleen Kasebier, Bernadette HOGGS)

(source: Reuters)