Vestas crossed the 10 GW threshold in a record year

The wind turbine manufacturer only expects a modest decline this year after expecting to strike the jackpot across the board in 2016. Shareholders will be rewarded.

Photo: Frank Boutrup Schmidt/Vestas

In 2016, Vestas booked revenue of EUR 10.2 billion and a result of EUR 1,287 million before tax – and EUR 965 million after. Meanwhile, the EBIT margin before special items landed at 13.9 percent while the cash flow amounted to EUR 1,564 million while the order intake was a whopping 10,494 MW. In other words, new records were set across the board.

"I am extremely pleased with Vestas' 2016 performance, delivering a record year on revenue, EBIT margin, net profit, free cash flow, order intake, and combined order backlog," says Anders Runevad, Group President & CEO, following the release of the report.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from EnergyWatch

Ørsted aims to be number one on carbon capture

The utility hopes to win the Danish carbon capture and storage tender with a plan to capture 400,000 tonnes of CO2 by 2025 from the company’s biomass-fired combined heat and power stations.

Nordex downgrades forecast

The German turbine manufacturer has had a rougher start to 2022 so far than expected, prompting the company to downgrade guidance by EUR 200m at minimum.

Further reading

Related articles

Latest News

See all jobs