Danish wind turbine giant Vestas records increased Q4 profit for 2024 – EQ
In Short : Danish wind turbine giant Vestas reported higher Q4 profit for 2024, driven by strong demand, improved supply chains, and cost efficiencies. Rising global investments in wind energy boosted revenue, reinforcing Vestas’ market position. The company remains optimistic about 2025, expecting continued growth amid increasing renewable energy adoption and supportive policies worldwide.
In Detail : Danish wind turbine company Vestas Wind Systems on Wednesday reported an increase in its profit for the fourth quarter of 2024 to €598 million ($623 million) from €149 million in the previous year.
Its earnings before interest and taxes (EBIT) before special items also climbed to €759 million from €191 million in the previous year.
Quarterly revenues were €6.14 billion, up 29% from €4.77 billion in the previous year.
The board of directors proposed at the annual general meeting that a dividend of 0.55 Danish kroner ($0.077) per share be distributed to the shareholders, equivalent to 15% of the net profit for the year. In addition, a share buyback of €100 million is to be initiated.
Looking ahead to the fiscal year 2025, the company expects revenue to range between €18 billion and €20 billion, with an EBIT margin before special items of between 4% and 7%. Total investments are anticipated to amount to approximately €1.2 billion in 2025.
The company’s long-term financial ambitions include growing revenue faster than the market and becoming the market leader in terms of revenue.
Additionally, it aims for an EBIT margin before special items of at least 10% and positive free cash flow.
