Vestas recorded higher revenue and a return to positive earnings before interest and tax (EBIT) before special items in the second quarter of 2025.
Revenue rose 13.6 percent year-on-year to €3.75 billion, while EBIT before special items reached €57 million, representing a margin of 1.5 percent compared with negative 5.6 percent in the same quarter of 2024. Adjusted free cash flow was negative €227 million, down from €524 million a year earlier.
Firm and unconditional wind turbine orders totalled 2,009 MW, a 44 percent decrease compared with the second quarter of 2024. The wind turbine order backlog was valued at €31.4 billion at the end of June 2025. Service agreements were worth €35.9 billion, bringing the combined backlog to €67.3 billion – €4.3 billion more than a year earlier.
The company maintained its full-year 2025 guidance, forecasting revenue of €18–20 billion, an EBIT margin before special items of 4–7 percent, and total investments of about €1.2 billion.
