Mwb Expects Nordex to Deliver 'Another Strong' Q2 Performance

04:52 AM EDT, 07/20/2026 (MT Newswires) -- Mwb Research forecasts "another strong" second quarter from Nordex (NDX1.F) ahead of the German wind turbine company's interim earnings report on July 29. The research firm said in a July 17 note that the anticipated results will be driven by increased installation volumes, "better-priced" backlog, an expansion in service contributions and "positive scale effects." As such, analysts expect a 12% year-over-year increase in second-quarter revenue to 2.1 billion euros, alongside a 76% jump in EBITDA to 190 million euros. Mwb also believes Nordex is "well on track" to reach its full-year 2026 revenue outlook of between 8.2 billion euros and 9 billion euros as well as its EBITDA margin target of 8% to 11%. "The Q2 results should provide further evidence that Nordex is progressing well operationally, with strong revenue growth and continued margin expansion supporting the FY26 outlook. At the same time, the growing contribution from North America should improve the resilience and diversification of the company's demand profile. However, the current valuation already reflects a substantial part of the expected further growth and earnings improvement. Given ongoing macro and policy uncertainty and a 2026E P/E of 21.6x, we maintain our HOLD rating with an unchanged EUR 44.00 price target," the note said.