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Vestas Annual report 2018

Power News - Published on Mon, 11 Feb 2019

Image Source: Wind Business Intelligence
The wind turbine order intake increased from 11,176 MW in 2017 to 14,214 MW in 2018 and the value of the service order backlog increased by EUR 2.2 billion to EUR 14.3 billion. For 2019, Vestas expects revenue to range between EUR 10.75 billion and 12.25 billion, including service revenue, which is expected to grow by approx. 10 percent. Vestas expects to achieve an EBIT margin before special items of 8-10 percent, with a service EBIT margin approx. 24 percent.

As a result of the performance during the year, the Board of Directors of Vestas Wind Systems A/S proposes to the Annual General Meeting that a dividend of DKK 7.44 per share, compared to DKK 9.23 last year, and equivalent to 30.0 percent of the net profit for the year, be distributed to the shareholders.

Mr Anders Runevad, Group President & CEO said that “In 2018, wind energy manifested its position as the cheapest source of electricity in many parts of the world, creating a tremendous long-term growth outlook for the industry and a highly competitive environment short-term. As the industry continued to mature and became mainstream, Vestas met its 2018 guidance and clearly led the industry on all key parameters, including highest ever order intake of 14.2 GW across 43 countries, all-time high order backlog of more than EUR 26bn, and record-high service revenue and margins. Together with the continued underlying stabilisation in pricing and our strong focus on efficiency and cost management, we sustained and strengthened the foundation that enables us to execute a very busy 2019 as well as develop the sustainable energy solutions of the future.”

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Posted By : Rabi Wangkhem on Mon, 11 Feb 2019
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