Q1 2026 Vestas Wind Systems A/S Earnings Call Transcript
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Good morning, and welcome to our Q1 2026 release. I think the key word for this first quarter, of course, for the world is hitting of energy crisis, another one after the last one in H1 2022. It's also here very much appropriate to thank you. Thank you for a good start of the year. That thanks goes especially to customers, to partners, colleagues and other stakeholders.
Thank you for many -- very many valuable conversations and commitments in what has been an increasing volatile world throughout the first 4 months of the year. So with that, let's go to the key highlights of Q1. So key highlights for Q1, revenue of EUR4 billion. That's an increase of 14% year-on-year, driven by offshore, where we also see the manufacturing ramp-up is improving year-on-year. EBIT margin of 3.2% is better profitability in both onshore and offshore, leading to the best first quarter EBIT margin since 2018.
Our Service EBIT margin of 16.3% continued cost-out in the Service leads to
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