Published: 07 November 2019 07 November 2019
In the third quarter of 2019, Vestas generated revenue of € 3,646 million – an increase of 30% compared to the year-earlier period. EBIT before special items increased by € 153 million to € 429 million.
The EBIT margin before special items was 11.8% compared to 9.8% in the third quarter of 2018, and free cash flow amounted to € 205 million compared to € (223) million in the third quarter of 2018.
The intake of firm and unconditional wind turbine orders amounted to 4,738MW in the third quarter of 2019.
The value of the wind turbine order backlog amounted to € 16.5 billion as at 30 September 2019. In addition to the wind turbine order backlog, Vestas had service agreements with expected contractual future revenue of € 16.3 billion at the end of September 2019. Thus, the value of the combined backlog of wind turbine orders and service agreements stood at € 32.8 billion – an increase of € 9.1 billion compared to the year-earlier period.
Vestas maintains its 2019 guidance on revenue of € 11 billion-12.25 billion, EBIT margin before special items of 8-9%, and total investments of approx. € 800 million.