In a world of growing uncertainty, Vestas Wind Systems A/S has proven its resilience and adaptability. The company's annual report for 2025 showcases its ability to thrive amidst volatile global conditions. But here's where it gets controversial: Vestas not only met but exceeded its financial outlook, achieving its highest revenue and profitability ever!
For the year 2025, Vestas reported a whopping EUR 18.822 billion in revenue, surpassing its initial outlook of EUR 18.5-19.5 billion. This remarkable achievement was accompanied by an EBIT margin before special items of 5.7 percent, which was also within the predicted range of 5-6 percent. The company's total investments for the year amounted to EUR 1.251 billion, slightly higher than the expected EUR 1.2 billion.
The order backlog across Power Solutions and Service segments reached an impressive EUR 71.9 billion, a testament to Vestas' strong market position and customer confidence. Looking ahead to 2026, Vestas forecasts revenue between EUR 20-22 billion, with an EBIT margin before special items of 6-8 percent. The Service segment is expected to shine, with an EBIT margin before special items of 15.5-17.5 percent.
As a result of this outstanding performance, Vestas' Board of Directors has proposed a dividend of DKK 0.74 per share to be distributed to shareholders. Additionally, the company will initiate a share buyback of EUR 150 million. This move demonstrates Vestas' commitment to rewarding its shareholders and maintaining a strong financial position.
Henrik Andersen, Group President & CEO, commented on the achievements: "Vestas' performance in 2025 is a testament to our ability to navigate a challenging global business environment. Our growth across Onshore, Offshore, and Service segments has been exceptional, and we are proud to have achieved these results. The need for affordable, secure, and sustainable energy has driven our success, and we are grateful for the support of our customers, partners, shareholders, and colleagues."
Key highlights from the report include:
- Revenue of EUR 18.8 billion and an EBIT margin of 5.7 percent, representing all-time highs and achieving the upper end of the Outlook.
- Service EBIT of EUR 626 million, meeting the revised guidance but falling short of performance targets.
- Order intake of 16.3 GW, leading to a record-high order backlog, with higher Onshore activity, particularly in EMEA, offsetting lower Offshore orders.
- Manufacturing ramp-up resulted in extra costs and investments, but progress was made, and further improvements are expected in 2026.
- Returning value to shareholders with a proposed dividend of DKK 0.74 per share and a share buyback of EUR 150 million.
The outlook for 2026 is promising, with revenue expected to range between EUR 20-22 billion and an EBIT margin before special items of 6-8 percent. Vestas will host a conference call on February 5, 2026, at 10 am CET, to present these results and answer questions from investors and analysts.
For more detailed information, you can access the integrated Vestas Annual Report 2025, the full Company Announcement, and additional reports and policies on the company's website.
And this is the part most people miss: Vestas' success is not just about numbers; it's about the impact they have on the world. By generating value and driving sustainable energy solutions, Vestas is contributing to a greener future. So, what do you think? Is Vestas' approach to value generation amidst uncertainty a recipe for long-term success? We'd love to hear your thoughts in the comments!
