Vestas increased EBIT before special items to €127 million in the first quarter of 2026 from €14 million a year earlier.
The company said the result delivered an EBIT margin before special items of 3.2%, compared with 0.4% in the first quarter of 2025.
Vestas added that revenue rose 14.4% year-on-year to €3.97 billion, driven by improving manufacturing ramp-up in its offshore business.
The company reported quarterly firm and unconditional wind turbine order intake of 4504MW, up 44% from the same period last year.
Vestas said the value of its wind turbine order backlog reached €36.3 billion at the end of March, while combined backlog including service agreements increased to €76.1 billion.
Adjusted free cash flow was negative €533 million compared with negative €325 million in the first quarter of 2025.
The company maintained its full-year guidance for revenue of €20 billion to €22 billion and an EBIT margin before special items of 6% to 8%.
Vestas also announced a new €100 million share buyback programme as part of its capital structure strategy.
“Vestas delivered a solid first quarter of 2026 driven by improved execution in our Onshore and Offshore businesses during growing geopolitical uncertainty,” said Henrik Andersen, group president and chief executive at Vestas.
“Revenue was up 14 percent year-on-year and with an EBIT margin of 3.2 percent, we achieved the highest first quarter profitability since 2018 and highlighted our positive operational trajectory.”
“Our turbine order backlog reached a new high with EUR 36.3bn that was achieved through an order intake of 4.5 GW driven by Onshore orders across Regions and especially strong Offshore activity.”
Vestas said strong offshore activity in the UK and onshore momentum across regions supported the order intake during the quarter.