Vestas Wind Systems A/S (0NMK) Q3 2025 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:06.357 Good morning and welcome to Vestas' Q3 reporting and also closing 00:00:06.357 -- 00:00:11.319 and looking forward to close a very solid year 2025. 00:00:11.381 -- 00:00:17.166 I'll also take here the opportunity to extend a big thank you to our customers, colleagues 00:00:17.166 -- 00:00:22.471 and not least our external stakeholders. Great support and commitment through the current 00:00:22.471 -- 00:00:26.875 environment and through the first current nine months of the year to the execution we 00:00:26.875 -- 00:00:30.018 are talking and going to talk much more about today. 00:00:30.018 -- 00:00:34.946 So with that, could I go here to the key highlight? 00:00:35.092 -- 00:00:38.803 So key highlights, revenue of 5.3 billion euros. 00:00:38.803 -- 00:00:43.917 That's an increase of 3% year on year, driven by higher deliveries despite 00:00:43.917 -- 00:00:46.893 negative foreign exchange development. 00:00:46.893 -- 00:00:50.317 When we look at the EBIT margin of 7.8%, earnings 00:00:50.317 -- 00:00:55.623 achieved through improved onshore project execution, lower warranty costs, 00:00:55.623 -- 00:01:00.710 partly offset by our manufacturing ramp-up, which is continuing 00:01:00.710 -- 00:01:06.336 but also progressing well. When we look at the order intake of 4.6 gigawatts, 00:01:06.336 -- 00:01:11.442 up 4% year-on-year, driven by US and Germany, and onshore 00:01:11.442 -- 00:01:16.458 is up more than 60% quarter-on-quarter comparison to last year. 00:01:16.458 -- 00:01:21.208 When we look at the manufacturing ramp up, the driver cost and also investments, the 00:01:21.208 -- 00:01:26.259 onshore and offshore ramp up is progressing as we focused on delivering a very busy fourth 00:01:26.259 -- 00:01:31.425 quarter, but also as...