Vestas announces record revenue and profit for 2015

Aarhus, Denmark - For full-year 2015, revenue amounted to EUR 8.4bn, EBIT margin before special items was 10.2 percent, total net investments was EUR 425m, and the free cash flow amounted to EUR 1,047m.

This is largely in line with the latest expectations to revenue of EUR 8.0bn-8.5bn, EBIT margin before special items of 9-10 percent, total investments of approx EUR 400m, and free cash flow around EUR 750m-950m. The activity level and earnings of the period were driven by the stable execution of strong order books for wind turbines and service, both of which continued to grow during the year as a result of solid execution and a favourable market environment.

The wind turbine order intake increased from 6,544 MW in 2014 to 8,943 MW in 2015 and the value of the service order backlog increased by EUR 1.9bn to EUR 8.9bn.

For 2016, Vestas expects revenue to amount to minimum EUR 9bn including service revenue, which is expected to grow. Vestas expects to achieve an EBIT margin before special items of minimum 11 percent with the service EBIT margin remaining stable.

Total net investments are expected to amount to approx EUR 500m (incl. the acquisition of Availon Holding GmbH), and the free cash flow is expected to be minimum EUR 600m (incl. the acquisition of Availon Holding GmbH) in 2016.

As a result of the strong performance during the year, the Board of Directors recommends to the Annual General Meeting that a dividend of DKK 6.82 per share, compared to DKK 3.90 last year, and equivalent to 29.9 percent of the net profit for the year, be distributed to the shareholders.

Source: IWR Online, 09 Feb 2016