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Vestas Wind Systems
Vestas Wind Systems (VWS) investor relations material
Vestas Wind Systems Q1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q1 2026 earnings summary6 May, 2026
Executive summary
Q1 2026 revenue reached EUR 3,966m, up 14.4% year-over-year, driven by strong offshore performance and improved manufacturing ramp-up.
EBIT margin before special items was 3.2%, the highest Q1 margin since 2018, reflecting improved profitability in both onshore and offshore segments.
Net income reached EUR 70m, up from EUR 5m in Q1 2025, supported by execution improvements.
Order intake surged 44% to 4,504 MW, with a record backlog exceeding EUR 36bn, driven by strong offshore orders in the UK and robust onshore momentum.
A EUR 100m share buyback was announced, marking the third consecutive quarter of capital return to shareholders.
Financial highlights
Revenue: EUR 3,966m, up 14% year-over-year, primarily from Power Solutions.
EBIT before special items: EUR 127m (3.2% margin), up from EUR 14m (0.4%) last year.
Net profit: EUR 70m, up from EUR 5m year-over-year.
Gross margin: 11.9%, up 1.5 percentage points year-over-year.
Adjusted free cash flow was negative EUR 533m, reflecting typical Q1 working capital build-up.
Net cash position at quarter-end was EUR 435m.
Outlook and guidance
2026 revenue guidance maintained at EUR 20–22bn.
EBIT margin before special items expected at 6–8%.
Service EBIT margin guidance set at 15.5–17.5%.
Total investments for the year projected at approximately EUR 1.2bn.
Guidance assumes no significant changes in geopolitical or supply chain conditions.
Explain Service margin decline despite recovery
Drivers of net working capital improvement
Impact of Operating Model Reset on inventory
Timeline for offshore segment profitability
Service revenue impact from cost-out strategy
US order intake risks from Section 232 and DoD
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Latest events from Vestas Wind Systems
- Record financials, strong growth, and all proposals adopted amid ongoing strategic transformation.VWS
AGM 20268 Apr 2026 - Record revenue, improved margins, and robust order backlog set the stage for 2026 growth.VWSQ4 20255 Feb 2026
- Revenue fell and Service EBIT turned negative, but order intake and backlog hit record highs.VWSQ2 20242 Feb 2026
- 2024 guidance narrowed after EUR 300m service cost hit; Power Solutions margins improved.VWSGuidance1 Feb 2026
- Q3 revenue up 19%, record €63.4bn backlog, improved margins, but service EBIT guidance cut.VWSQ3 202416 Jan 2026
- Record 2024 results, strong Q4, robust outlook, and continued investment in offshore.VWSQ4 20249 Jan 2026
- Record order intake, improved earnings, and renewed dividend amid ongoing market challenges.VWSAGM 202529 Nov 2025
- Revenue up 29% YoY, EBIT margin positive, and order backlog hits EUR 69.8bn.VWSQ1 202524 Nov 2025
- Revenue up 14% YoY, EBIT margin 1.5%, order intake down 44%, 2025 guidance maintained.VWSQ2 202523 Nov 2025
Next Vestas Wind Systems earnings date
Q2 202612 Aug, 2026
Vestas Wind Systems
Next Vestas Wind Systems earnings date
Q2 202612 Aug, 2026
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excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
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@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
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