Vestas net profit of 771 million euro
In a challenging year, Vestas revenue increased while earnings decreased in 2020, and free cash flow stayed at around the same level. For 2021, Vestas expects revenue to range between EUR 16bn and 17bn, including service revenue, which is expected to grow by approx. 15 percent.
“In 2020 Vestas continued to play a key role in the fight against climate crisis, and we met our revised guidance on all parameters, leading the industry on revenue, order intake, and profitability despite COVID-19 affecting all parts of our value chain. In this environment, we achieved more than 17 GW of deliveries and bolstered our total order backlog to an all-time high of EUR 43bn through strong order intake, service growth, and the re-integration of offshore wind. Service performance was once again very strong with a 10 percent increase in revenue year-over-year and record EBIT margin of 28 percent”, says Henrik Andersen, Group President & CEO.
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