Vestas profit, revenue and earnings all dropped in the first three quarters of 2018 compared with the same period last year.
Revenue in the first nine months of this year was over €6.7bn, down from over €6.8bn last year, while earnings stood at €980m in 2018 falling for more than €1.15bn in 2017.
Earnings fell because of lower average project margins in the power solutions business unit, although this was partially offset by an improved showing in the service segment, Vestas said.
The negative impact of foreign exchange effects also impacted the company.
The Danish manufacturer’s profit for the latest nine-month period stood at €464m, down from €599m in 2017.
However, the order intake grew to €6.4bn from €6.1bn, representing 8697MW this year compared with 7331MW in the first three quarters of last year. The order backlog reached 13.8GW worth €10.5bn in 2018, up from 10.8GW valued at €8.8bn in 2017.
Most of the backlog, 6264MW, was in the Americas, with Europe, Middle East and Africa next with 6092MW and Asia 1444MW.
In the service business, the order backlog was €13.2bn at the end of September, an increase of €1.8bn on the same time last year.
Vestas said its outlook for the year remains unchanged with revenue in the €10bn to €10.5bn range.