Vestas Q2 revenue grows 14 per cent, but wind turbine orders dip 44 per cent

Danish wind turbine manufacturer Vestas generated revenue of €3.7 billion ($4.3 billion) in the second quarter of 2025, an increase of 13.6 per cent compared to the same period last year. The company achieved an EBIT margin before special items of 1.5 per cent, a significant improvement from the negative 5.6 per cent recorded in the second quarter of 2024.

The company stated that the results were driven by improved onshore project performance and lower warranty costs, but were offset by investments in its offshore ramp-up to deliver the first of its new large-scale turbine projects. The service business also delivered solid results during the quarter.

Vestas's quarterly intake of firm wind turbine orders amounted to 2,009 MW, a 44 per cent decrease from the second quarter of 2024, which the company attributed to customers awaiting policy clarity in key markets. The combined backlog of wind turbine orders and service agreements stood at €67.3 billion at the end of June, an increase of €4.3 billion from the previous year.

The company maintained its full-year guidance, with revenue expected to range between €18 billion and €20 billion and an EBIT margin of four to seven per cent. Group President and CEO Henrik Andersen stated that the company remains on track for its 2025 outlook and continues to work with partners to address market challenges.