Vestas offshore unit will be back in the black next year

Posted on 13 August 2026

Vestas is expecting to get its offshore division back to profitability in 2027.

CEO Henrik Andersen told analysts that off the back of a strong second quarter earnings result the company expects its offshore division to be back in the black next year.

“We will most likely end this year in a red number, and the scale and the ramp up will take us to a black number in 2027 for offshore,” Andersen told analysts.

Andersen added that the company would “fight hard” to get its offshore wind margin to a break-even point for the year, “and then there is a black number coming in 2027”, though he declined to say just how big of a profit margin the company is aiming for.

The company reported an increase in revenue in its Power Solutions division for the first half of the year of €6.96bn, up 30.2% from last year’s figure of €5.35bn for the same period.

The increase was primarily driven by higher volume of offshore delivery, the company said in a report to investors.

Offshore deliveries for the quarter were up to 776MW from the 320MW Vestas delivered this time a year ago.

The CEO added that the company is becoming more efficient, as production and installation timelines for the supplier’s turbines are shortening.

“That really is for us the key driver,” Andersen said of the raised guidance. “It’s the ramp up and the efficiency across the team.”

Vestas expects its full-year profitability margins in the region of 7-9 percent EBIT.

While Vestas’ order-book had no new entries in the quarter, Andersen assured analysts that this was due to the lumpiness of offshore turbine orders.

https://www.renews.biz/offshore-wind/vestas-aiming-to-get-offshore-back-to-black-in-27/