COPENHAGEN (dpa-AFX) - Vestas Wind Systems A/S (VWDRY.PK) reported Wednesday that its profit for full year 2019 rose to 700 million euros from 683 million euros in the prior year. Earnings per share grew to 3.6 euros from 3.4 euros last year.
Profit before tax edged down slightly to 909 million euros from 910 million euros a year ago.
Operating profit or EBIT grew to 1.00 billion euros from 921 million euros last year. EBIT before special items increased to 1.00 billion euros from 959 million euros in the prior year. The EBIT margin was 8.3 percent, compared to 9.1 percent a year ago.
Vestas generated revenue of 12.15 billion euros for the year, up from last year's 10.13 billion euros.
Order intake increased in 2019 compared to 2018, and the value of the combined order backlog increased to 34 billion euros.
The wind turbine order intake increased year-on-year by 3,663 MW to 17,877 MW in 2019, and the value of the service order backlog increased by 3.5 billion euros to 17.8 billion euros.
Looking ahead to full year 2020, Vestas expects revenue to range between 14 billion euros and 15 billion euros, including service revenue, which is expected to grow by about 7 percent.
Vestas expects to achieve an EBIT margin before special items of 7 percent to 9 percent, with a service EBIT margin of about 25 percent.
The company's board of directors has proposed to the Annual General Meeting that a dividend of 7.93 Danish Krone per share be distributed to the shareholders, compared to 7.44 Danish Krone last year, and equivalent to 30.0 percent of the net profit for the year.
Copyright RTT News/dpa-AFX
© 2020 AFX News
