For the year 2021, Vestas’ revenue amounted to EUR 15.6bn (outlook: EUR 15.5-16.5bn), with an EBIT margin before special items of 3 percent (below outlook of around 4 percent), and total investments (excluding acquisitions of subsidiaries, joint ventures, and associates, and financial investments) of EUR 813m (outlook: below 1,000m).
Compared to 2020, revenue and free cash flow increased while earnings decreased. The value of the combined order backlog increased from EUR 43bn to 47bn across Power Solutions and Service.
As announced on 26 January 2022, Vestas’ outlook for 2022 is as follows: Revenue is expected to range between EUR 15.0bn and 16.5bn, including Service revenue. Vestas expects to achieve an EBIT margin before special items of 0-4 percent, and total investments (excluding acquisitions of subsidiaries, joint ventures, and associates, and financial investments) are expected to amount to approx. EUR 1,000m in 2022.
In addition to what has already been communicated, revenue in the Service segment is expected to grow by approx. 5 percent in 2022, with a service EBIT margin of approx. 25 percent.
As a result of the performance in 2021, the Board of Directors of Vestas Wind Systems proposes to the Annual General Meeting that a total dividend payment of EUR 50m (corresponding to DKK 0.37 per share) be distributed to the shareholders in 2022, compared to a total of EUR 230m last year, and equivalent to 30 percent of the net profit for the year.