Vestas warns of geopolitical and tariff risks despite Q1 profit rise

The group, which has struggled in recent years with supply chain disruptions, cost inflation and offshore ramp-up costs, is seeking to turn a record backlog into higher margins while facing US wind policy and trade tariff uncertainty.

In the first quarter, operating profit before special items rose to €127 million ($149 million) from a year-earlier 14 million against a mean forecast of 71 million in an analyst poll shared by Vestas, and the margin widened to 3.2 per cent from 0.4 per cent.

"We achieved the highest first-quarter profitability since 2018," CEO Henrik Andersen said in a statement. "The current geopolitical uncertainty and energy crisis underline the need for affordable, secure, and sustainable energy."