Vestas posted full year 2015 pre-tax profits of €925m, up from €523m in 2014, on the back of €8.4bn in revenues.
The latter figure was up from €6.9bn in 2014 while the EBIT margin was 10.2%. Net profits were €685m compared with €392m in 2014.
“The activity level and earnings were driven by the stable execution of strong order books for wind turbines and service, both of which continued to grow during the year as a result of solid execution and a favourable market environment,” said Vestas.
Turbine orders increased to 8.9GW in 2015 from 6.5GW in 2014 and a booming service order backlog rose by €1.9bn to €8.9bn.
Vestas expects 2016 revenues to be at least €9m with a corresponding EBIT margin of at least 11%.
Chief executive Anders Runevad (pictured) said: “We executed well on our profitable growth strategy, delivering strong financial and operational results across the board and across the globe.”
He said the company posted its highest ever net profit and a achieved a record order intake “across 34 countries on five continents, which bodes well for continued high activity levels in 2016”.
Image: Vestas
