Revenue Growth
Vestas reported Q3 revenue of EUR 5.3 billion, a 3% increase year-on-year driven by higher deliveries despite negative foreign exchange impacts.
EBIT Margin Improvement
EBIT margin stood at 7.8%, achieved through improved Onshore project execution and lower warranty costs, despite manufacturing ramp-up costs.
Order Intake Increase
Order intake reached 4.6 gigawatts, up 4% year-on-year, with significant contributions from the U.S. and Germany; Onshore orders increased more than 60% quarter-on-quarter compared to last year.
Share Buyback Initiation
Vestas announced a share buyback of EUR 150 million, reflecting a solid liquidity position and capital structure strategy.
Record-Breaking Gross Profit
Gross profit reached a record EUR 772 million in Q3, the highest ever for the third quarter, driven by improved profitability in Onshore and lower warranty costs.
Net Working Capital Improvement
Net working capital decreased significantly by EUR 1.4 billion compared to Q3 last year, due to high project deliveries and a focus on working capital management.