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In the third quarter of 2018, Vestas generated revenue of € 2,811 million – an increase of 2% compared to the year-earlier period. EBIT before special items decreased by € 79 million to € 276 million. The EBIT margin before special items was 9.8% compared to 12.9% in the third quarter of 2017.
The intake of firm and unconditional wind turbine orders amounted to 3,261MW in the third quarter of 2018. The value of the wind turbine order backlog amounted to € 10.5 billion as at 30 September 2018. In addition to the wind turbine order backlog, Vestas had service agreements with expected contractual future revenue of € 13.2 billion at the end of September 2018. Thus, the value of the combined backlog of wind turbine orders and service agreements stood at € 23.7 billion – an increase of € 3.5 billion compared to the year-earlier period. Vestas maintains its 2018 guidance on revenue in the range between € 10.0 billion and € 10.5 billion, and on EBIT margin before special items of 9.5-10.5%. Guidance on total investment is adjusted. Total investments are expected to amount to approx. € 600 million (compared to previously approx. € 500 million). Investments are excluding the acquisition of Utopus Insights, any investments in marketable securities, and short-term financial investments.
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