Vestas order intake hit a record of almost 18GW in 2019, which the company described as its “busiest year to date”.
The company’s turbine order intake increased year-on-year by 3663MW to 17,877MW in 2019 and the value of the service order backlog increased by €3.5bn to €17.8bn.
Orders in the Americas were 10,269MW, with Europe accounting for 6001MW and Asia-Pacific 1607MW last year.
The Danish turbine manufacturer also reported revenue, earnings and profit all up last year on the previous year.
Revenue reached almost €12.15bn, up from €10.13 in 2018, while EBITDA grew to €1.55bn from just under €1.4bn and profit hit €700m rising from €683m.
The bulk of the revenue – €10.28bn – came from the power solutions business, with services delivering almost €1.9bn.
Power solutions was driven by high activity levels in the Americas, particularly the US, the company said.
In 2020, Vestas expects revenue to range between €14bn and €15bn, including service revenue, which is expected to grow by about 7%.
Vestas group president and chief executive Henrik Andersen said: “Wind energy manifested its position as a leading global energy source in 2019, driving Vestas’ order intake to a record 17.9GW, 20% growth in revenue and expected high activity levels in the coming years.
“In an extraordinarily busy year, Vestas extended its industry leadership, met its guidance on all parameters and scaled the company to deliver on our highest-ever order backlog of €34bn.
“Once again, our service business delivered year-on-year growth and improved profitability, underlining its strategic importance in a tough market.
“In 2019, the industry thus faced challenges from trade wars and tariffs, causing execution costs to increase, which we expect to continue in an even busier 2020.
“Together with our customers and partners, everyone at Vestas worked vigorously to create the momentum to finish 2019 strongly, and we must continue this momentum to achieve our goals for 2020.”