For full year 2018 Vestas’ revenue amounted to € 10.1 billion, the EBIT margin before special items was 9.5%, total investments were € 603 million, and free cash flow amounted to € 418 million. Compared to 2017, revenue, earnings, and free cash flow decreased in 2018.
Order intake increased in 2018 compared to 2017, and the value of the combined order backlog continued to grow during the year. 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 € 2.2 billion to € 14.3 billion. For 2019, Vestas expects revenue to range between € 10.75 billion and 12.25 billion, including service revenue, which is expected to grow by approximately 10%. Vestas expects to achieve an EBIT margin before special items of 8-10%, with a service EBIT margin approx. 24%. Total investments are expected to amount to approx. € 700 million in 2019.