Shares in Vestas have climbed by more than 20 per cent after the Danish wind turbine manufacturer raised its full-year profit guidance and announced a further share buyback.
The company employs more than 300 people at its blade factory in Newport, which became the UK’s only dedicated onshore wind blade site earlier this year following a £20 million government grant.
Vestas said wind turbine orders rose by more than €1 billion compared with the same period in 2025, and it will buy back €400 million of shares by the end of the year.
Orders climb as governments raise prices
The rise comes as wind farms continue to be developed around the world, with several governments and other buyers raising the prices they are willing to pay for new projects.
The buyback is the largest in a series announced over the past 18 months as Vestas recovers from a difficult period in the early 2020s, when high costs and supply-chain problems squeezed margins.
Order intake grew 67 per cent year on year to 3.3 gigawatts, according to the company’s second-quarter results.
What the chief executive said
Group president and chief executive Henrik Andersen said in a statement on Vestas’ website,
“In the second quarter of 2026, Vestas achieved 26 percent revenue growth to EUR 4.7bn and an EBIT margin of 9.4 percent, which corresponds to an improvement of 7.9 pp year-on-year.”
He added,
“The improvement was driven by Power Solutions, both Onshore and Offshore, while order intake grew 67 percent year-on-year to 3.3 GW and Service performed according to plan.”
Mr Andersen said,
“Based on our performance in the second quarter and visibility towards the end of the year, we raise the 2026 outlook on profitability and return further cash to shareholders through a new share buyback of EUR 400m that will run until the end of the calendar year.”
He continued,
“Demand for wind energy solutions remains strong due to the growing need for secure, affordable, and sustainable energy, and we want to thank our customers, partners and colleagues for their continued engagement and support.”
The Newport connection
The Isle of Wight factory switched from offshore to onshore blade production earlier this year after demand for the larger offshore blades it once made came to an end.
The then-Energy secretary Ed Miliband stepped in with a rescue deal in January, and the £20 million grant confirmed by government followed weeks later.
Vestas has operated on the Island for more than 20 years, and Ken Kaser, senior vice president of blades manufacturing, said at the time that the company and the Isle of Wight had “a long, proud history” together.
