For full year 2017, Vestas’ revenue amounted to € 10.0 billion, the EBIT margin was 12.4 per cent, total net investments were € 407 million. The wind turbine order intake increased from 10,494MW in 2016 to 11,176MW in 2017 and the value of the service order backlog increased by € 1.4 billion to € 12.1 billion.
For 2018, Vestas expects revenue to range between € 10 billion and 11 billion, including service revenue, which is expected to grow. Vestas expects to achieve an EBIT margin of 9-11 per cent, with the service EBIT margin remaining stable. Vestas envisions market conditions which in the long term will reflect wind power having achieved merchant levels in the vast majority of markets. The wind power industry is undergoing a transition towards a more mature, unsubsidised renewable energy industry. This transition leads to a highly competitive market, and will likely drive a further consolidation in the industry.
