In 2024, Vestas generated revenue of € 17.3 billion and achieved an EBIT margin of 4.3 per cent. Service EBIT reached € 448 million, despite rising costs that made for a challenging year in the service division.
The company recorded an order intake of 17 GW and € 19 billion in value. This performance was driven by a high average selling price and strong momentum in both onshore and offshore segments. Meanwhile, there has been a continuous ramp-up in manufacturing activities in the USA and Europe, although this has resulted in additional costs as Vestas prepares to deliver on a record order backlog.
The value of the combined order backlog across Power Solutions and Service increased to € 68.4 billion.
Vestas is also returning value to its shareholders. The company has proposed a dividend of DKK 0.55 per share and will initiate a share buyback programme worth € 100 million.
Looking ahead to 2025, Vestas expects revenue to lie between € 18 billion and € 20 billion, with an EBIT margin before special items anticipated to range between 4 and 7 per cent.
