Vestas has raised its financial guidance for 2026 after delivering record revenue and improved profitability in 2025.
The company achieved revenue of €18.8bn last year against an outlook of €18.5-19.5bn, while its EBIT margin before special items reached 5.7%, in the upper end of the guided 5-6% range, according to annual results published today.
Total investments amounted to €1.3bn in 2025 compared with expected spend of about €1.2bn, according to the manufacturer.
The order backlog across power solutions and service climbed to €71.9bn on the back of a 16.3GW intake.
For 2026, Vestas expects revenue of €20-22bn with an EBIT margin before special items of 6-8%, while investments are forecast at about €1.2bn.
The company added that its service segment is expected to deliver an EBIT margin before special items of 15.5-17.5% in 2026.
Henrik Andersen, group president and chief executive, said: “Vestas achieved our highest ever revenue and profitability in the upper end of our outlook, representing a solid result in a volatile global business environment.”
He added: “Growth across Onshore, Offshore and Service ensured revenue of EUR 18.8bn, while our EBIT margin of 5.7 percent was driven by continued improvement in Onshore execution and Service EBIT in line with expectations.”
Andersen stated: “The strong performance in Onshore was underlined by absorbing the continued extra costs and investments related to the ramp-up in Offshore and executing our Service recovery plan.”
He said: “The growing need for affordable, secure, and sustainable energy helped us achieve an order intake of 16.3 GW, leading to an all-time high combined order backlog of EUR 71.9bn.”
Andersen added: “Based on our 2025 results and strong cash flow, we are pleased to return further value to our shareholders for the second quarter in a row by proposing a dividend of DKK 0.74 per share and initiating a share buyback of EUR 150m.
“We want to thank our customers, partners, shareholders, and our 37,000 colleagues for their continued support and dedication.”