In 2025, Vestas recorded order intake of 16.3 GW, with stronger onshore activity, particularly in EMEA, offset by lower offshore orders. Manufacturing ramp-up during the year resulted in additional operational costs, while Service delivered performance in line with revised guidance although below internal targets.
Revenue reached € 18.8 billion, within the company’s outlook range, with an EBIT margin before special items of 5.7 percent and total investments of € 1,251 million. The combined order backlog across Power Solutions and Service increased to € 71.9 billion.
For 2026, Vestas expects revenue between € 20-22 billion and an EBIT margin before special items of 6-8 percent, with total investments forecast at approximately € 1.2 billion. The Service segment is projected to achieve an EBIT margin before special items of 15.5-17.5 percent.
Following the 2025 performance, the Board has proposed a dividend of DKK 0.74 per share and plans to initiate a share buyback programme of € 150 million.
