Record Revenue and Strong Q4 Performance
For the full year 2024, Vestas ended with a revenue of EUR17.3 billion, marking a 12% increase year-on-year, and achieved an EBIT margin of 4.3%. Q4 was the best quarter since 2017, with a 29% revenue increase year-on-year.
Service Business Expansion
The service order backlog grew to almost EUR37 billion from EUR34 billion at the end of 2023, with service reaching 155 gigawatt compared to 149 gigawatt a year ago.
Strong Order Intake and Backlog
Order intake of 17 gigawatt added EUR19 billion in value, with a high ASP. The order backlog in Power Solutions increased to a record high of EUR31.6 billion, up EUR5.6 billion compared to last year.
Shareholder Returns
Vestas proposed a dividend of DKK0.55 per share and will initiate a share buyback of EUR100 million with immediate effect.
Sustainability Achievements
Lifetime emissions avoided by produced and shipped capacity increased by 59 million tonnes compared to the previous year.