Vestas in the green in the first quarter, beyond expectations

"The current tariffs are creating significant challenges to order fulfillment, particularly in the United States," Vestas noted, although it believes this financial impact can be absorbed within its current forecasts.

For the full year, Vestas expects revenues of between 18 and 20 billion euros.

Between January and March, driven by an increase in MW delivered and, to a lesser extent, by the rise in MW prices, the Danish group's turnover increased by almost 30%, to 3,468 billion euros.

These results exceed the analysts' consensus, which was forecasting a turnover of 3 billion euros with a net loss of 42 million.

"In the first quarter of 2025, Vestas' performance continued to improve, although new events contributed to increased geopolitical uncertainty and regionalization," said the group's CEO, Henrik Andersen, quoted in the report.

Order intake increased by more than 70% to €3,9 billion, "thanks to strong momentum in EMEA offshore and onshore, but some markets were affected by external factors," he noted.

Despite European states' ambitions to green their energy sources, Western manufacturers have been hit by supply chain disruptions and rising costs due to the Covid pandemic and Russia's invasion of Ukraine.

In China, on the other hand, the heavily subsidized industry is booming, which is alarming Western producers.