Enercon posts €12 million operating profit in 2025, ending five years of losses

Aurich-based wind turbine manufacturer Enercon reported an operating profit after depreciation, interest and taxes of €12 million for full-year 2025, reversing a €177.9 million loss in 2024 and closing out a multi-year restructuring that began when the German onshore market collapsed in 2018 and 2019^[1].

Revenue and order intake

Group revenue from Enercon's core business rose to €4.45 billion from €3.83 billion, a gain of around 16%^[1]. That marks the second consecutive year of 16% top-line growth^[1]. Order intake closed 2025 at €5.85 billion^[1], a figure that implies the company's books are filled well beyond the current year.

The order backlog is not evenly distributed across products. Enercon said strong intake was driven particularly by its E-175 EP5 flagship model, and the company's order books are filled through 2028^[1]. The E-175 EP5 - with a rotor diameter of 175 metres and a rated output of up to 7.0 MW in its E2 variant - is the most frequently approved turbine type in new German permits, according to Enercon's own market data.

Installations and market share

Enercon commissioned 627 turbines with a combined capacity of 2.785 GW in 2025, compared with 2.776 GW the prior year^[1]. The marginal capacity gain masks a meaningful shift in the mix: the company installed more power from fewer or similar turbine counts, reflecting the move toward larger machines.

Key market-share figures for 2025:

• 30.4% share of installed capacity in Germany, based on 1.594 GW^[1]
• 15.5% European market share, up from 15.1% in 2024^[1]
• 1.192 GW of export installations, with Türkiye the largest export market in nominal terms^[1]

What the executives said

CEO Udo Bauer framed the result as a milestone rather than a ceiling: "After already returning to positive operating earnings and achieving a positive EBITDA in 2024, we have now also delivered a positive EBIT in 2025"^[1]. CFO Michael Jaxy added that self-financed profitable growth is planned through 2028, and that group earnings are expected to improve further in 2026^[1].

The language matters. Enercon is privately held and does not publish quarterly results, so the annual statement is the only window into its finances. The explicit commitment to self-financing signals that the company does not intend to return to the bank restructuring talks that defined 2019 and 2020.

What to watch

The 2026 outlook hinges on two things: whether the E-175 EP5 ramp-up holds to schedule as volumes scale beyond the prototype phase, and whether German permitting momentum - which drove the 30.4% domestic share - continues under the new federal government. Enercon's order book running to 2028 provides a buffer, but the margin at €12 million on €4.45 billion in revenue is thin enough that any supply-chain or installation delay would erase it quickly.