Vestas

Strategic intent

Vestas is a global leader in sustainable energy solutions, specializing in the design, manufacturing, installation, and servicing of onshore and offshore wind turbines across more than 80 countries.

Key market signals

• 2026-10: Vestas secured a 27 MW wind turbine order in Vietnam to supply six V163-4.5 MW turbines with a 20-year AOM 500 service agreement.
• 2026-10: Vestas held strategic talks with Petrovietnam to discuss local supply chain development and increasing Vietnamese participation in offshore wind manufacturing, engineering, and technical services.
• 2026-10: Vestas continued its DKK 3,000m (approx. EUR 400m) share buy-back programme, executing transactions to buy back shares between October 15 and October 21, 2026.

Financial health

• In FY 2025, Vestas achieved revenue of EUR 18,822m (up 9% YoY) and an EBIT margin before special items of 5.7% (up from 4.3% in 2024), with a combined order backlog of EUR 71.9bn (https://www.vestas.com/en/investor/reporting/2025).
• In Q1 2026, Vestas reported quarterly revenue of EUR 4.0bn (up 14% YoY) and an EBIT margin before special items of 3.2%, with a combined order backlog of EUR 76.1bn (https://www.vestas.com/en/investor).
• In Q2 2026, Vestas delivered revenue of EUR 4.7bn (up 26.1% YoY) and an EBIT margin before special items of 9.4%, raising its full-year 2026 profitability guidance to an EBIT margin before special items of 7-9% (originally 6-8%) on expected revenue of EUR 20-22bn (https://www.vestas.com/en/investor).

Impact & compliance

Legal & risks

In October 2024, Vestas and Finnish state-owned utility Fortum settled a €200 million-plus arbitration dispute in the International Chamber of Commerce in Stockholm regarding wind power projects in Russia, with both companies waiving all claims on a walk-away basis. In December 2025, Cogent […]

Forensic audit — 3 findings

• ⚠ In October 2024, Vestas and Finnish state-owned utility Fortum settled a €200 million-plus arbitration dispute in the In...
• ⚠ In December 2025, Cogent Insights Licensing Inc. filed a patent infringement lawsuit against Vestas Wind Systems A/S in
• ⚠ In August 2025, TPI Composites, Inc. (Vestas' largest blade supplier) filed for Chapter 11 bankruptcy. In March 2026, Ve...

🔒 Proprietary analysis

Proprietary Analysis — available with full access

Want the full analysis?

Get access to strategic fit scoring, cultural fit analysis, full forensic detail, and alignment dimensions.