Published on February 11th, 2016 | by Joshua S Hill1
2015 Another Strong Year For Vestas Wind
February 11th, 2016 by Joshua S Hill
Danish wind energy giant Vestas has reported yet another successful financial year, with strong financial and operational results.
In its Annual Report for 2015, Vestas revealed that it had taken in orders worth 8.943 GW in 2015, up from 6.544 GW in 2014, with the value of its service order backlog increasing by €1.9 billion to €8.9 billion. Full year revenue for 2015 reached €8.4 billion, with total net investments of €425 million.
“In 2015, we executed well on our profitable growth strategy, delivering strong financial and operational results across the board and across the globe,” said Anders Runevad, Group President & CEO.
“Vestas met or exceeded its full-year 2015 guidance on revenue, EBIT margin, and free cash flow; and delivered double-digit margins and its highest ever net profit. We also secured our highest ever order intake, doing so across 34 countries on five continents, which bodes well for continued high activity levels in 2016. The 20,507 Vestas employees deserve special thanks for the tremendous efforts everyone has made to create these very positive results for the company and our shareholders.”
Vestas is predicting 2016 revenue to reach a minimum of €9 billion, including revenue from servicing, which the company expects to see grow in 2016. Total investments are expected to reach approximately €500 million, which includes the acquisition of Availon Holding GmbH.
Further good news for shareholders was also revealed, with the Board of Directors recommending to the Annual General Meeting that a dividend of DKK 6.82 per share be paid out, compared to only DKK 3.90 last year.
In response, the stock market reacted relatively well to the news, with shares rising 13% on the back of the strong growth.