Vestas shares climbed more than 18% after the world’s largest wind turbine manufacturer raised its profit guidance and announced a €400mn share buyback as orders rose.

In its second‑quarter results, the Copenhagen‑listed company said its wind turbine orders rose by more than €1bn compared with the same period in 2025, and raised its operating profit guidance for the full year. The buyback is the largest in a series announced over the past 18 months as the company recovers from a difficult period in the early 2020s due to high costs and supply‑chain constraints.

CEO Henrik Andersen thanked shareholders, noting the return of cash. New orders climbed from 2 GW (€2.2bn) to 3.35 GW (€3.4bn) in the same period; the backlog now stands at 32.5 GW, worth €36bn.

Q2 adjusted operating profit was €446mn versus €57mn a year earlier, with a margin of 9.4%. The new guidance puts the company close to its 10% margin target, and all orders were for onshore turbines.