Vestas kicks off the year with increased revenue and a return to profit Despite the fact that the pace of orders has cooled significantly, the Danish wind turbine company maintains its plan for the current year while accelerating its deployment in offshore wind and deals with a complex regulatory context in United States.
Between April and June, the firm invoiced 3.745 billion euros (+13,6%) and achieved a EBIT margin of 1,5% with 57 million before extraordinary items, compared to the drop in the same quarter of the previous year. The quarterly net result was 32 million, a notable turnaround from the 2024 losses, albeit with a adjusted free cash flow of -227 million.
Results and business evolution
In the first half of the year, Vestas earned a net profit of 37 million euros, leaving behind the losses of 226 million from the previous year. The half-yearly turnover reached 7.213 billion (+20,7%), despite an adverse exchange rate impact of 207 million. For a deeper understanding of industry trends, you can consult News and advances in wind energy.
By lines, the electrical solutions they contributed 5.345 billion (+21,4%), while the services they grew up 1.868 billion (+18,7%)This performance confirms the operational strength of the land-based portion and the resilience of the recurring business. maintenance.
The quarter ended with fewer contract entries: firm orders for wind turbines increased 2.009 MW (-44%)At the end of June, the turbine portfolio amounted to 31.400 millones de euros and service contracts accumulated 35.900 million, for a combined total of 67.300 million, 4.300 billion more than a year ago.
El adjusted free cash flow of the second quarter was -227 billion, compared to 524 million in the same period in 2024, reflecting the investment effort and the collection schedule and deliveries.
2025 Guide, Market and Risks
Vestas maintains its objectives unchanged: revenues of 18.000-20.000 billion, EBIT margin before special items of 4%-7% and a volume of investments close to 1.200 billion euros in the exercise. Management maintains that the structural demand for renewables supports this Roadmap. To better understand the perspectives, see Aragon's role in renewable energy.
The company reports good commercial pulse in EMEA, although the regulatory and political uncertainty in key markets such as EE. UUThe group states that it continues to work with customers, partners and governments to overcome bottlenecks and move towards energy systems affordable and safe.
The international trade environment adds pressure: the possibility of duty In the United States, and changes in clean energy incentives increase the complexity of the supply chain. globalized. Although these factors may increase costs, the company believes that they could also lead to electricity prices higher to cushion the impact.
In the quarter, the EBIT before special items (€57 million) fell below the consensus (€89M), but represented a substantial improvement compared to the losses of €185 million recorded a year earlier, indicating a operational recovery underway.
