‘The answer my friend, is blowing in the sales of wind turbines’ – Vestas profits surprise to he upside
how much of the profits/sales are from government/taxpayer subsidies?
From here:
Vestas’ Q1 profit rises more than expected as offshore wind turbine production picks up
“May 6 (Reuters) - Danish wind turbine maker Vestas reported on Wednesday a bigger rise than expected in first-quarter profit as its ramp-up of production for the offshore sector gained pace, and said it still expects sales to rise this year.
Vestas warned of uncertainty around geopolitical developments and trade tariffs but repeated guidance given in February for a full-year operating profit margin before special items of 6%-8% on sales of between 20 billion and 22 billion euros. In 2025, the margin was 5.7% on sales of 18.8 billion euros.
In the first quarter, operating profit before special items rose to 127 million euros ($149 million) from a year-earlier 14 million against a mean forecast of 71 million in an analyst poll shared by Vestas, and the margin widened to 3.2% from 0.4% .
“We achieved the highest first-quarter profitability since 2018,” CEO Henrik Andersen said in a statement. “The current geopolitical uncertainty and energy crisis underline the need for affordable, secure, and sustainable energy.”
Sales in the quarter, the seasonally slowest of the year for the sector, rose 14% to 3.97 billion euros, slightly above expectations. Vestas said the rise was driven by sales of offshore turbines as its ramp-up of production gained pace.
Order intake increased slightly less than expected, to 4.50 gigawatts (GW) from 3.14 GW, driven by onshore orders across regions and especially strong offshore activity.
Out of interest, from Brave AI:
“Vestas has installed over 100 wind turbines in the UK across several major projects, with specific counts including 116 turbines for the Rampion offshore wind farm and 100 turbines for the Thanet Offshore Wind Farm.
Additionally, recent orders include 92 turbines each for the Vanguard East and Vanguard West offshore projects (supplied by Vestas V236-15.0 MW models), and 18 turbines for the Pencloe onshore project in Scotland. The company also supplied 114 V164-10 MW turbines for the Seagreen offshore wind farm.
Please take a (paid or unpaid) subscription or forward this article to those you think might be interested.
You can also donate via Ko-fi – any amount from three dollars upwards. Ko-fi donations here: