Nordex AG shares climbed to their highest level in 24 years following the wind turbine manufacturer's strong earnings performance.

The German company reported that group earnings before interest, taxes, depreciation and amortization (EBITDA) jumped 64% compared to the previous year, significantly exceeding market expectations.

The earnings beat reflects improving conditions in the renewable energy sector as demand for wind power infrastructure continues to grow globally. Nordex manufactures onshore wind turbines and provides related services including maintenance and operations.

The strong financial performance comes as European governments accelerate renewable energy investments to reduce dependence on fossil fuels and meet climate targets. Wind energy companies have benefited from increased government support and corporate commitments to clean energy.

Nordex's stock surge makes it one of the top performers in the renewable energy sector this year, with investors showing renewed confidence in wind power manufacturers after a challenging period marked by supply chain disruptions and rising raw material costs.