en.Wedoany.com Reported - Vestas has released its Q2 2026 financial results, showing significant growth in both revenue and profitability. Quarterly revenue reached €4.723 billion, up 26.1% year-on-year; earnings before interest and taxes (EBIT) before special items stood at €446 million, compared to €57 million in the same period last year, with the corresponding margin rising from 1.5% to 9.4%. Adjusted free cash flow turned positive, reaching €94 million, versus a negative €227 million in the same period last year.
In terms of orders, confirmed wind turbine orders in Q2 increased by 67% to 3,349 MW. As of June 30, 2026, the wind turbine order backlog stood at €36.0 billion; including service agreements with expected future revenue of €40.9 billion, the total order backlog reached €76.9 billion, an increase of €9.6 billion compared to the same period last year.
Based on this positive momentum, Vestas has raised its full-year 2026 earnings guidance, increasing the EBIT margin before special items expectation from the previous 6% to 8% to 7% to 9%. The revenue guidance remains unchanged at €20 billion to €22 billion, and total investments are still expected to be approximately €1.2 billion.
Henrik Andersen, Group President and CEO of Vestas, stated that the Q2 results support the upward revision of the earnings outlook, and the company has simultaneously launched a new €400 million share buyback program to continue returning capital to shareholders, which will run until the end of this year. He noted that demand for wind energy solutions remains strong, driven by the growing need for secure, affordable, and sustainable energy.
The newly approved share buyback program has a maximum size of DKK 3.0 billion (approximately €400 million) and will be executed under the authorization granted at the Annual General Meeting in April 2026, which permits the repurchase of own shares with a nominal value not exceeding 10% of the existing share capital at the time of authorization. The buyback will commence on August 13, 2026, and conclude no later than December 16, 2026, and will be carried out in accordance with the EU Market Abuse Regulation (MAR) and applicable safe harbor rules. The company stated that the buyback aims to adjust its capital structure and fulfill obligations under the group's share-based compensation plans.
In the secondary market, on Wednesday morning, August 12, 2026, Vestas shares rose 19.27% to €28.04 on the Stuttgart Stock Exchange (as of 12:02 local time). The stock is included in the RENIXX World renewable energy stock index.
