Compared to 2013, general performance of Vestas improved due to the execution of the strategic plan, Profitable Growth for Vestas, combined with a continued focus on the parameters which were at the centre of the previous turnaround plan.
Wind turbine order intake increased by 10 per cent in 2014 and the service order backlog increased as well. For full year 2014, revenue amounted to € 6.9 billion, EBIT margin before special items was 8.1 per cent, total investments was € 285 million, and the free cash flow amounted to € 841 million. This was all in line with the latest expectations. The wind turbine order intake increased from 5,964MW in 2013 to 6,544MW in 2014 and the value of the service order backlog increased by € 0.3 billion to € 7.0 billion, despite the carve-out of the offshore service order backlog during the year. For 2015, Vestas expects revenue to amount to minimum € 6.5 billion with an EBIT margin before special items of minimum 7 per cent, total investments of approx € 300 million, and a free cash flow of minimum € 400 million.
