Vestas has released its figures for the third quarter of 2025, showing higher activity than in the same period last year. The company reports growth in both revenue and operating profit.
Revenue in the quarter was € 5,339 million, up 3.1 per cent year on year. EBIT before special items reached € 416 million, giving a margin of 7.8 per cent compared with 4.5 per cent in the third quarter of 2024.
Adjusted free cash flow improved to € 508 million from € (224) million a year earlier. Firm and unconditional turbine orders totalled 4,606 MW, a 4 per cent increase from the third quarter of 2024. The turbine order backlog stood at € 31.6 billion at the end of September. Service agreements added € 36.6 billion in expected future revenue, bringing the combined backlog to € 68.2 billion, € 4.8 billion higher than a year earlier.
The Board has approved a share buy-back of € 150 million, citing a solid liquidity position and capital structure strategy. Based on year-to-date performance, Vestas has narrowed its full-year guidance. Expected revenue is now € 18.5-19.5 billion, with an EBIT margin before special items of 5-6 per cent. Total investments for 2025 remain guided at around € 1.2 billion.
