Denmark's Vestas , the world's biggest wind turbine maker, reported on Wednesday a higher-than-expected adjusted operating profit for the fourth quarter but warned of ongoing uncertainty for 2025.

Danish wind turbine company Vestas Wind Systems on Wednesday reported an increase in its profit for the fourth quarter of 2024 to €598 million ($623 million) from €149 million in the previous year. Its earnings before interest and taxes (EBIT) before special items also climbed to €759 million from €191 million in the previous year.

Danish group says year 'didn't evolve as expected' but robust orders and selling prices gives cause of optimism

Vestas, the world's biggest wind turbine maker, said uncertainty could weigh on performance, but the execution of its record order backlog would boost revenue, and it announced a share buyback as fourth-quarter results beat expectations.

Vestas Wind Systems beat estimated earnings by 31.0%, reporting an EPS of $0.21 versus an estimate of $0.16. Revenue was up $1.42 billion from the same period last year. In the previous quarter, the company missed on EPS by $0.03, resulting in a 14.000000000000002% drop change in the share price the following day.