Vestas, a global leader in sustainable energy solutions, reported robust financial performance in the third quarter of 2025, marking continued momentum in the wind energy market. Vestas posted revenue of EUR 5,339 million, up 3.1 percent year-on-year, driven by stronger Onshore deliveries and improved project execution, offset slightly by negative foreign exchange effects.
Operating earnings before special items (EBIT) rose to EUR 416 million, reflecting an EBIT margin of 7.8 percent, a substantial improvement from 4.5 percent in Q3 2024.
Growing Order Pipeline and Expanding Service Portfolio
Vestas continued to build scale in its wind turbine business, recording firm and unconditional order intake of 4,606 MW — a year-on-year increase of 4 percent, driven by strong demand in the USA and Germany.
As of 30 September 2025, the company’s wind turbine order backlog reached EUR 31.6 billion. Combined with service agreements worth EUR 36.6 billion, the total backlog rose to EUR 68.2 billion — a EUR 4.8 billion increase compared with the same quarter of 2024. This expanding backlog underscores Vestas’ resilience and leadership in the global renewable energy market, supported by long-term service contracts that provide stable recurring revenue.
Strategic Execution Amid Geopolitical Challenges
Vestas Group President and CEO Henrik Andersen stated that higher Onshore deliveries and stronger operational performance drove the quarter’s results. “The results underline that the year is back-end loaded, with Onshore order intake growing more than 60 percent year-on-year,” Andersen said.
While the global energy sector continues to face geopolitical uncertainty, Vestas reaffirmed its commitment to enabling affordable, secure, and sustainable power solutions through advanced wind technology and global partnerships.
2025 Outlook and Capital Strategy
Based on solid nine-month performance, Vestas narrowed its 2025 financial guidance. Revenue expectations are now between EUR 18.5 billion and EUR 19.5 billion, with an EBIT margin before special items projected at 5 to 6 percent. Total investments remain unchanged at approximately EUR 1.2 billion for the year.
Key Q3 2025 Figures
Revenue: EUR 5.3 billion, up 3.1 percent year-on-year
EBIT margin: 7.8 percent, up from 4.5 percent last year
Order intake: 4.6 GW, with Onshore up more than 60 percent
Adjusted free cash flow: EUR 508 million
Combined backlog: EUR 68.2 billion (EUR 31.6bn turbines + EUR 36.6bn services)
Share buyback: EUR 150 million program initiated
2025 outlook: Revenue EUR 18.5–19.5bn; EBIT margin 5–6 percent; investments ~EUR 1.2bn
Baburajan Kizhakedath