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(Bloomberg) — Vestas Wind Systems A/S lifted its profit guidance for the year and announced a share buyback after a jump in orders for its wind turbines.
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The Danish company said it expects a profit margin of between 7% and 9% for the full year, up from 6% and 8% previously. The upgrade marks further progress for Vestas, which has spent several years working to improve profitability after soaring costs and supply-chain disruptions in the wake of the coronavirus pandemic.
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Demand for wind turbines is growing around the world as countries turn to renewable energy to decarbonize their power grids, meet rising electricity needs and bolster domestic energy production. That’s driving growth at Vestas, one of the world’s oldest and largest producers of the technology in the world.
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The company’s Chief Executive Officer Henrik Andersen said in a statement that Vestas will return cash to shareholders through a €400 million ($461 million) share buyback that will run until the end of the year.
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While Vestas has increased prices in recent years, orders have continued to climb. Total turbine orders rose more than 50% in the first half from a year earlier. The wind-turbine business traditionally sees stronger activity in the second half, potentially setting Vestas up for a record year.
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Shares in Vestas are up 2.1% this year after recording a 77% gain in 2025. Outlook for revenue for the year was unchanged and is set to be in a range of €20 billion to €22 billion.
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