Vestas’s offshore wind turbine order backlog amounted to EUR 10.1 billion as of 31 December 2025. The company’s annual report shows that the total turbine order backlog, including onshore and offshore, reached 31,026 MW, valued at EUR 33.2 billion, marking an increase of EUR 1.6 billion from 2024.
The Danish wind turbine manufacturer recorded a record revenue of EUR 18.8 billion, with an EBIT margin before special items of 5.7 percent. Vestas attributes this improvement to disciplined execution and a robust order backlog. The EBIT margin improved from 4.9 percent in 2024, driven by strong onshore project performance and reduced warranty costs. Offshore profitability faced challenges due to substantial ramp-up costs and increased amortizations and depreciations.
Following a record year in 2024, Vestas increased both revenue and order backlog. Revenue reached EUR 17.3 billion, and the turbine order backlog stood at EUR 31.6 billion for 29,241 MW after returning to profitability in 2023.
In 2025, Vestas delivered 14,537 MW of wind turbines across onshore and offshore platforms, up by 12.7 percent compared to 2024. Offshore deliveries rose to 1,977 MW in 2025 from 1,352 MW in the previous year, mainly driven by the EMEA region.
Wind turbine order intake totaled 16,292 MW and was valued at EUR 17.4 billion, a decrease from the previous year. This decline was due to lower offshore orders in EMEA and the Americas, partially offset by increases in onshore orders in these regions, particularly from Germany, Ukraine, and Brazil.
The average selling price per MW of a Vestas turbine was EUR 1.07 million, down from EUR 1.14 million in 2024. The reduction resulted from changes in geographic mix, project scope, and fewer offshore orders in 2025.
“Offshore remained a strategic priority throughout 2025, as we overcame challenges ramping up our manufacturing capacity and began delivery of our first customer projects. Seeing our V236-15.0 MW™ turbine deliver electricity commercially was a proud moment for Vestas and our partners,” said Vestas’s Chair of the Board of Directors, Anders Runevad, and Group President & CEO, Henrik Andersen, in the full-year report for 2025.
“The journey from acquiring MHI Vestas Offshore to serial production and installation across He Dreiht and Baltic Power has been long and challenging, but underscores Vestas’ technological strength and executional capability.”
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