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For the year 2020, Vestas’ revenue amounted to EUR 14.8bn, with an EBIT margin before special items of 5.1 percent, and total investments of EUR 659m, all in line with expectations.
Compared to 2019, revenue increased while earnings decreased, and free cash flow stayed at around the same level. The value of the combined order backlog increased from EUR 34bn to 43bn as the offshore business is now included. Deliveries were more than 17 GW up 34 percent compared to 2019. Vestas reported a 10 percent revenue growth in Service and a 28 percent EBIT margin.
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