Wind turbine maker Vestas third-quarter operating profit beats expectations

COPENHAGEN, Nov 5 (Reuters) - Wind turbine maker Vestas VWS.CO reported third-quarter operating profit above expectations on Wednesday, driven by good execution in its onshore business.

The stronger-than-expected result suggests Vestas is successfully executing a turnaround after years of losses, managing to pass on higher costs to customers and improve profitability even as the wider wind industry faces severe headwinds.

"The world remains impacted by geopolitical uncertainty, which is creating unprecedented challenges, but also showcasing why wind energy remains key to building affordable, secure and sustainable energy systems," CEO Henrik Andersen said in a statement.

The Danish company reported a 77% rise in July-September operating profit before one-off items to 416 million euros ($485.14 million), above the 305 million euros expected by analysts in a company-compiled consensus.

Vestas said it would also launch a share buy-back programme of 150 million euros.

The company now expects full-year 2025 sales of between 18.5 billion and 19.5 billion euros, compared to a previous outlook of between 18 billion and 20 billion euros. It now sees its 2025 operating profit margin before special items to be between 5% and 6%, compared with a prior forecast of between 4% to 7%.