Vestas Wind Systems A/S (0NMK) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, and welcome to our presentation of our full year 2025, Q4, of course, in 25. And as always, as this full year presentation, also a short strategy update section. For us, 2025, a year of evidence in both important milestone in our strategy value through performance, but also here, it's absolutely timely to say proper thank you to our customers, to our partners, shareholders and colleagues. So today, both shareholders and colleagues will see a reward from financial year 2025 in the form of a proposed dividend share buyback and also for our colleagues around the world, a very well-deserved incentive bonus payout. I also just want to here take the opportunity to just point to the picture. As you can see, a nice weather day in the North Sea where we are constructing one of our offshore turbines for Hidreit. So really appreciated of seeing that. With that, I would like to go to key highlights for the year. So revenue of the year of 18.8 billion and an EBIT margin of 5.7%. Revenue all-time high from growth in both segments. and profitability achieved in the offer and, of course, narrowed part of our outlook from Q3. The service EBIT of Euro 626 million Euro delivered on a revised service EBIT guidance. However, the outcome fell short of our performance targets and also internal expectations, as you can see also in our remuneration report. Order intake of 16.3 gigawatts leading to a record high order backlog. Its higher onshore activity, especially in EMEA, was offset by lower offshore orders in the year. Manufacturing ramp up leading to extra costs and investments as we're speaking to throughout the year. Progress are made and being made on the persistent challenges and we expect further improvements here in 2026. We are returning value to our shareholders. A ...