ExxonMobil – Restructuring pays off
The oil industry can look back on an eventful first quarter, and ExxonMobil has proven to be surprisingly resilient. The company recently presented itself in a form that no one would have expected. Despite declining crude oil prices and a weakening chemicals division, the energy giant managed to achieve a remarkable profit. The secret to its success lies in production. With the highest output in four decades, the company is skillfully offsetting external price fluctuations. In particular, the low-cost large-scale projects in Guyana and the Permian Basin are paying off and making Exxon less dependent on the daily ups and downs of oil prices. Nevertheless, the company is now benefiting from the Iran conflict.
Exxon has learned one thing above all else in recent years: to control costs. Structural spending has been massively reduced since 2019, and the target for 2030 is even higher. This increase in efficiency is not just empty words, but measurable and secures the group an industry-leading return on investment. Management passes on the strong cash flows directly to shareholders. The combination of generous share buybacks and a dividend that has been rising steadily for over four decades makes the stock a reliable component of any yield-oriented portfolio.
Recent geopolitical tensions show why Exxon’s strategy is working. While many competitors are suffering from the blockade of important trade routes, the company is benefiting from its shift to the American region. Business in the Western Hemisphere makes Exxon immune to the turmoil in the Middle East. In addition, the commissioning of the LNG terminal in Texas brings new capacity, while competition from Qatar is out of the picture. The planned move of the official company headquarters to Texas is more than a formality. It underscores the focus on a stable, reliable environment for operations. The stock is currently trading at USD 148.13.
Standard Uranium – Good times for uranium
Times could hardly be better for uranium explorers at present. While long-term supply contracts between major producers and emerging markets such as India are withdrawing billions in liquidity from the market, a structural supply deficit is emerging, putting increasing pressure on utilities in North America and Europe.
It is precisely this environment that suddenly makes exploration projects in politically stable regions such as Canada much more attractive. At the same time, the industry is increasingly willing to invest in the search for new deposits. It is in this favorable environment that a Canadian company with several hot prospects in the Athabasca Basin is getting started. Standard Uranium launched its first drilling programs this winter, sending a clear signal.
The Corvo project is kicking things off, where drilling rigs will be deployed for the first time in over four decades. Partner company Aventis Energy is financing the campaign, which will see President Sean Hillacre’s team verify spectacular surface discoveries made last year at depth. The Rocas project, financed by Collective Metals, will follow almost simultaneously. Neither area has ever been drilled before. This is a classic case of risk-spread exploration, with partners bearing the costs while Standard Uranium, as the operator, retains operational control and secures a percentage share of the production. At Corvo, the company will receive 25%.
However, the real crown jewel remains the company’s flagship Davidson River project. Here, the break since 2022 has been used to draw a precise picture of the subsurface using state-of-the-art gravity measurements. The fourth drilling campaign since the discovery is now scheduled to follow in the summer. The program is financed from the company’s own funds and has the clear goal of building on the successful neighboring discoveries in the region. For investors, this model offers a rare combination of externally financed joint venture programs that provide a continuous flow of news, while the focus on the company’s own flagship project keeps the chance of a big win open. The stock is currently trading at CAD 0.11.
Nordex – Benefiting from the boom in renewable energy
The energy transition is no longer a short-lived hype. It has become a real growth driver. With the ongoing electrification of industry and mobility, electricity demand is climbing steadily. Accordingly, demand for new wind turbines is picking up. Nordex is benefiting on two fronts. On the one hand, political guidelines are driving expansion, and on the other, green electricity is increasingly becoming an economic necessity for companies. With a record order backlog of EUR 16.1 billion, it is clear that Nordex is benefiting disproportionately from this trend. Not only are the order books well filled, but with EUR 10.1 billion in project business and EUR 6 billion in services, they also provide a solid basis for the coming years.
The annual figures presented for 2025 speak for themselves. Revenue climbed to EUR 2.5 billion in the final quarter, and the operating margin improved to an impressive 12.1%. Consolidated net income multiplied to EUR 274 million, while free cash flow swelled to EUR 863 million. These improvements are not the result of one-off effects, but rather a reflection of a sustained increase in profitability. The forecast for 2026, with an expected EBITDA margin of 8-11%, exceeds previous targets. Management is now more confident about the medium term and is aiming for a margin of 10-12%.
The market momentum is also reflected in the latest order intake. In March 2026 alone, Nordex announced two significant orders from Germany. Long-standing partner wpd ordered 40 turbines for nine projects with a total output of 279 MW. Shortly before that, Qualitas Energy had already placed an order for 56 MW for the Wippershainer Höhe wind farm. In addition to delivery, both deals also include long-term service contracts for 15 and 20 years, respectively. The share price is currently trading at EUR 43.80.
The energy world is undergoing a realignment. The hunger for electricity for AI and electrification is forcing pragmatic solutions beyond old dogmas. ExxonMobil is leveraging its efficiency and stable production in America to benefit from the continuing demand for fossil fuels. Standard Uranium is positioning itself for a nuclear renaissance with promising exploration projects in the Athabasca Basin. Nordex, on the other hand, represents the green pillar in the mix and shines with full order books and rising profitability in the wind power business. Three contrasting paths, all fueled by the same megatrend: the insatiable energy hunger of the future.
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