Vestas Wind Systems A/S
VWS
ISIN DK0061539921 / Valor 111042507
Vestas Wind Systems A/S
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About company
Vestas Wind Systems A/S is a Danish, publicly traded manufacturer and service provider for the wind-power industry, headquartered in Aarhus, that designs, produces and installs wind turbine equipment and supplies associated components such as towers, blades and nacelles; it also offers lifecycle services including commissioning, long‑term operations and maintenance, upgrades and repowering, and digital monitoring and control solutions. Operating globally with manufacturing and service footprints across Europe, the Americas and Asia‑Pacific, Vestas sells turbines and service contracts to utilities, independent power producers and corporate buyers and generates revenue from both equipment deliveries and recurring service agreements.
Summarized from source with an LLMView SourceSector: EnergyLatest Results (14.03.2026):
Vestas Wind Systems A/S — Third Quarter 2025: Vestas reported Q3 2025 revenue of EUR 5.339bn and an EBIT before special items of EUR 416m (7.8% margin), net profit for the quarter of EUR 304m, and adjusted free cash flow of EUR 508m; the company narrowed its 2025 outlook and announced a EUR 150m share buy‑back.
Headline results
Q3 2025 revenue: EUR 5.339bn (+3.1% y/y). EBIT before special items: EUR 416m (7.8% margin, up from 4.5% in Q3 2024). Profit for the quarter: EUR 304m.
Orders and backlog
Q3 2025 order intake: 4,606 MW (value ~EUR 4.6bn). Wind turbine order backlog: 29,411 MW (EUR 31.6bn). Service backlog: expected contractual future revenue EUR 36.6bn. Combined backlog: EUR 68.2bn.
Deliveries and production
Deliveries in Q3 2025: 4,441 MW (up vs Q3 2024). Onshore intake >60% higher y/y; Offshore ramp‑up continues but is driving higher ramp‑up costs.
Cash flow, liquidity and capital returns
Adjusted free cash flow Q3 2025: +EUR 508m (vs -EUR 224m in Q3 2024). Cash & cash equivalents: EUR 3.532bn. Net interest‑bearing position: positive EUR 489m. Board initiated a EUR 150m share buy‑back.
Segment highlights
Power Solutions (wind turbines): Q3 revenue EUR 4.439bn; EBIT before special items EUR 359m (8.1% margin) — improvements from Onshore execution and lower warranty costs; Offshore ramp‑up weighing on costs and depreciation. Service: Q3 revenue EUR 900m; EBIT before special items EUR 153m (17.0% margin); Service backlog duration ~11 years.
Costs and operational notes
Warranty costs in Q3 2025 were EUR 160m (warranty ratio ~3.0%), materially down from Q3 2024. Ramp‑up of the V236‑15.0 MW platform is driving higher manufacturing investments, depreciation and short‑term costs.
Outlook for 2025
Full‑year revenue guidance narrowed to EUR 18.5–19.5bn (previously EUR 18–20bn). EBIT margin before special items narrowed to 5–6% (previously 4–7%). Service EBIT now expected at ~EUR 625m (lower than prior ~EUR 700m). Total investments outlook unchanged at ~EUR 1.2bn.
Balance sheet and financial position
Total equity EUR 3.482bn; solvency ratio 13.4%. Inventory, working capital and net working capital dynamics improved compared with prior periods; LTM ROCE before special items 13.6%.
Sustainability and safety
Q3 sustainability items: expected lifetime CO2e avoided by turbines produced/shipped in last 12 months = 461 million tonnes. TRIR (own workforce, LTM) rose to 3.3; Vestas notes targeted safety interventions to improve performance.
Summarized from source with an LLMView SourceKey figures
Performance
Volatility
26891 M
Market cap (USD)
4,658,442
Daily traded volume (Shares)
101 / 98.66
1 day high/low (USD)
52 weeks high/low (USD)
Dividend ex-date
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Dividend yield (p.a.)
Est dividend (USD)
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Ratings & reviews
Mueed Parkar
Bedirhan Türk
Bedirhan Türk
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