Vestas Records First Quarter Profit Despite Predictions

Tuesday, May 6, 2025
Vestas' V236-15.0 MW wind turbine (Credit: Vestas)

Wind turbine maker Vestas on Tuesday reported an unexpected operating profit for the first quarter, contrary to analysts' predictions of a loss, and kept its outlook for the year unchanged despite geopolitical uncertainty.

The Danish company reported an operating profit before special items of 14 million euros ($15.8 million) against a year-earlier loss of 68 million. The mean forecast in a poll of analysts compiled by Vestas was for a 29 million euro loss.

"Vestas' performance continued to improve, although new events contributed to further geopolitical uncertainty and regionalisation," its CEO Henrik Andersen said in a statement.

Still, the industry faces numerous challenges, with onshore installations in the key Europe market falling short last year of expectations due to grid bottlenecks, slow permit processes, and more stringent financing conditions stifling growth.

In addition, the emerging U.S. offshore wind industry, regarded as a key growth market, suffers from supply chain issues and inflation, as well as opposition from President Donald Trump's administration.

Vestas maintained its outlook for full-year revenue of between 18 billion and 20 billion euros and an operating profit margin of 4-7%.

"Although ongoing geopolitical and trade volatility is expected to cause uncertainty, the execution of our record-high order backlog is expected to drive increased revenue in 2025," it said in the earnings report.

Vestas reported a 36% rise in its first-quarter order intake of 3,135 megawatts (MW) which was broadly in line with analyst estimates of 3,157 MW.


(Reuters - Reporting by Stine Jacobsen, Editing by Terje Solsvik)

Categories: Finance Renewable Energy Industry News Activity Europe Offshore Wind

Related Stories

EnBW, BP Secure Consent for 1.5GW Offshore Wind Farm in UK

EnBW, BP Secure Consent for 1.5GW Offshore Wind Farm in UK

Ørsted Terminates Offshore Wind Installation Vessel Deal with Cadeler

Ørsted Terminates Offshore Wind Installation Vessel Deal with Cadeler

Triton Anchor Gets Patents for Floating Renewables Anchoring Tech

Triton Anchor Gets Patents for Floating Renewables Anchoring Tech

Current News

Exxon Mobil Discovers Natural Gas Reserve Offshore Cyprus

Ecopetrol Purchases Enel Wind Power Project for $50m

Gastech 2025 Technical & Commercial Conference to Accelerate Global Growth and Decarbonisation Through Energy Innovation

Rotra Futura RoRo Vessel Enters Offshore Wind Operations

Subscribe for OE Digital E‑News

Offshore Engineer Magazine