Vestas shares rose sharply in Copenhagen after the group unveiled a record order backlog, and signalled expectations for a busier 2019 and a levelling out of the decline in turbine prices that has squeezed it and other wind OEMs over the last few years.

Vestas shares were 7% higher in late Wednesday trading in Copenhagen, outperforming the wider OMX 20 index which rose by less than 2%.

The upward move came despite a profits fall at the Danish group – the world’s largest supplier of onshore wind turbines – during the third quarter of the year.