Vestas Wind Systems A/S (VWS) Earnings Call Transcripts

Vestas Wind Systems A/S's Latest Earnings Call - Q1 FY2026

In Q1 2026, Vestas Wind Systems A/S reported a revenue of EUR 4 billion, reflecting a 14% year-on-year increase, primarily driven by robust offshore performance. The EBIT margin improved to 3.2%, marking the highest first-quarter profitability since 2018. Management maintained its 2026 revenue guidance of EUR 20 billion to EUR 22 billion and an EBIT margin of 6% to 8%, signaling confidence in operational execution despite ongoing geopolitical challenges and inflationary pressures.

Reported metrics

Guidance from management

Management maintained its 2026 revenue guidance of EUR 20 billion to EUR 22 billion and an EBIT margin of 6% to 8%, indicating confidence in operational execution despite external challenges.

What management said

Is correct. It's a 12-month rolling, and we will continue to show it like that. We do see the warranty -- so a picture of that or a financial picture of that is what we provision on a monthly -- sorry, on a quarterly basis. And there, you see that we have -- we peaked that some years back, and Q1 here, albeit, of course, being only 1 quarter is also down compared to last year. So it's a good indication and there we -...

I've had that. And as I said here, the commercial reset, as you will appreciate. -- that is going to increase the profitability at a certain point in time. Sure it is. And we have a higher renewal rate than we ever expected 4 or 5 quarters ago because the internal feedback was we would hardly have any renewables when we start having a conversation around renewables on different terms. And let us take the multi-brand ...

What analysts pressed on

Analysts expressed concerns regarding the service division's declining revenue and the impact of geopolitical tensions on future order intake. There were also inquiries about the potential effects of raw material inflation on profitability going forward.

Main topics on the call

• Revenue Growth — Vestas reported a Q1 revenue of EUR 4 billion, a 14% increase year-on-year, with Power Solutions driving this growth. Management noted, "the increase was driven by higher megawatt delivered in offshore and, to a lesser d...
• Order Intake and Backlog — The company achieved an order intake of 4.5 gigawatts, leading to a record backlog of EUR 36.3 billion. Henrik Andersen stated, "we are in a good position also to deal with some of these variances," highlighting confiden...
• EBIT Margin Improvement — The EBIT margin before special items improved to 3.2%, up 2.8 percentage points year-on-year, driven by enhanced profitability in Power Solutions. Jakob Wegge-Larsen noted, "this is the highest first quarter profitabilit...
• Service Division Performance — Service revenue decreased by 9% year-on-year, impacted by currency headwinds and lower contract revenue. However, the EBIT margin for the service segment remained strong at 16.3%, indicating effective cost management.

Read the full Vestas Wind Systems A/S transcript (Q1 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 33 Vestas Wind Systems A/S earnings call transcripts on record, spanning February 5, 2020 to May 6, 2026. Based on this history, Vestas Wind Systems A/S reports quarterly. The most recent call on file is dated May 6, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

VWS

Exchange

CPSE

Country

DK

Sector

Industrials

Industry

Electrical Equipment

Calls on record

33

First call

February 5, 2020

Most recent

May 6, 2026

Reporting cadence

quarterly