Nordex Boosts Acciona's Results with Soaring Sales and Margin

✦ Meridian Analysis

Acciona’s 47% stake in its German wind‑turbine subsidiary Nordex has moved from a past burden to a growth engine, with the group now consolidating the subsidiary’s full earnings. Nordex has lifted its target maximum margins in 2026 to 12.5% and is targeting record sales of up to €9 billion. The German company’s market value sits at €9,270 million, valuing Acciona’s share at roughly €4,357 million, and its shares closed at 38.8 euros per share, up 11.8% more. Nordex maintains closed for now the tap of dividends, with a commitment to dedicate a minimum of 50 million euros to dividends in 2027. Nordex enjoys a liquidity of 2,327 million of euros, with positive free cash flow in the set of the year. The company’s CEO, José Luis Blanco, attributes the gains to the higher margins in the area of Services and the execution of the projects, while Acciona’s president, José Manuel Entrecanales, frames Nordex as one of the few cases of recent European industrial success and one of the few opportunities left for Europe so that its energy transition does not depend on foreign technologies. What to watch next is the timing of the first dividend payout. The company has not disclosed a timetable for any further integration or partnership talks, such as those previously discussed with Vestas.

The Meridian Weekly