Group President and CEO Henrik Andersen said Vestas' performance continued to improve despite ongoing geopolitical uncertainty and regional challenges. He highlighted strong order intake, an improving EBIT margin, and steady progress in the Service recovery plan, which runs until the end of 2026.
Vestas reported revenue of € 3.5 billion in the first quarter of 2025, up 29.4% year-on-year. EBIT before special items was € 14 million, giving a margin of 0.4%, up from (2.5)% in the same period last year. Adjusted free cash flow improved to € (325) million, compared to € (997) million in Q1 2024.
Wind turbine order intake reached 3,135 MW, a 36% year-on-year increase, valued at € 3.9 billion. The turbine order backlog stood at € 32.9 billion at the end of March, with service agreements valued at € 36.9 billion. The combined backlog totalled € 69.8 billion—€ 8.8 billion more than in Q1 2024.
Full-year guidance is unchanged, with revenue expected between € 18–20 billion (including Service) and an EBIT margin before special items of 4–7%. Capital investment for 2025 is projected at approximately € 1.2 billion.
