Vestas reports stronger Q1 earnings as offshore activity rises

Courtesy of Vestas Wind Systems A/S


Vestas reported first-quarter 2026 revenue of EUR 4.0 billion, up 14% year-on-year, as offshore activity and deliveries increased.

EBIT before special items reached EUR 127 million, compared with EUR 14 million in the same period last year, while the EBIT margin improved to 3.2% from 0.4%
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The company said the improvement was driven by stronger execution across its onshore and offshore businesses and higher offshore deliveries.

Wind turbine order intake rose 44% year-on-year to 4,504 MW, with strong offshore activity in Europe helping lift the turbine order backlog to a record EUR 36.3 billion. Combined turbine and service backlog reached EUR 76.1 billion.

Offshore deliveries increased to 812 MW during the quarter, up from 263 MW a year earlier. Vestas said it had installed a total of 204 GW across 88 countries by the end of March.

Vestas maintained its full-year guidance for revenue of EUR 20–22 billion and an EBIT margin before special items of 6–8%.

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