Vestas Order Intake Up 67% to 3.3 GW on US and German Demand, Shares Jump 16.2%

Vestas Wind Systems reported second-quarter order intake up 67% to 3.3 GW, driven by strong demand in the United States and Germany, and its shares rose 16.2% to USD 207.70.

The move took the stock about USD 28.95 above the prior close of USD 178.75, leaving it just under the 52-week high of USD 210.40 and well above the 52-week low of USD 111.95.

The United States is Vestas's largest single market by revenue, at 23.6% of net turnover, ahead of Germany at 14.5%, Brazil at 6.7% and Denmark at 2.3%, with other countries accounting for 52.9%.

Earnings per share reached EUR 1.1 in the second quarter, up 46% year on year, on revenue of EUR 4.7 billion, a 26% increase. EBIT margin before special items came in at 9.4%, against roughly 1.4% a year earlier, an improvement of about 8 percentage points.

The Power Solutions unit carried the quarter. Its revenue rose 37% year on year and its EBIT margin hit 10.4%, more than 10 percentage points above the prior year. Service revenue fell 5% year on year, with service EBIT of EUR 149 million and a margin of 16.6%.

Vestas raised its full-year EBIT margin guidance to a range of 7% to 9% from 6% to 8%. The 2026 revenue outlook was left unchanged at EUR 20 billion to EUR 22 billion, and the service EBIT margin guidance held at 15.5% to 17.5%.

The company also announced a EUR 400 million share buyback running from August 13 to December 16. That program forms part of a total 2026 buyback of EUR 650 million, including earlier authorizations.

MT Newswires published on the share move after the first-half results and improved 2026 targets on August 12, 2026 at 10:36. Vestas's price target was revised upward by 14.2% on August 12, 2026. Berenberg lifted its rating on Vestas to buy from hold on August 27, 2026, raising its target price to DKK 240 from DKK 196.

German orders continued after the results. Vestas booked a 58 MW order in Germany on September 4, 2026, and a 50 MW order in Germany on September 3, 2026. The same day it received an order for eight turbines from European Energy Deutschland.

On Cboe Europe, the stock traded at DKK 216.90 at 10:16:26 on September 8, 2026, down 0.60%, with a gain of 4.13% over five days and 25.03% since January 1.

The order intake figure sits against a delivery base of 2,737 turbines and systems in 2025, representing 14,537 MW. Turbine and system sales account for 80% of Vestas net turnover, with services making up the remaining 20%, so the shift in Power Solutions margin carries most of the group result. The company employs 39,520 people in renewable energy equipment and services.

Vestas will publish third-quarter 2026 results on November 11.