Vestas Wind Systems A/S (OTCPK:VWDRY) Q4 2024 Earnings Conference Call February 5, 2025 4:00 AM ET
Company Participants
Henrik Andersen – CEO
Rasmus Gram – CFO
Conference Call Participants
Claus Almer – Nordea
Akash Gupta – JPMorgan
Kristian Tornoe – SEB
Dan Togo Jensen – Carnegie
Casper Blom – Danske Bank
Supriya Subramanian – UBS
Ajay Patel – Goldman Sachs
Martin Wilkie – Citi
Deepa Venkateswaran – Bernstein
William Mackie – Kepler Cheuvreux
Colin Moody – RBC Capital Markets
Henrik Andersen
Good morning to everyone and welcome to our presentation of Full Year 2024. And let me, before we go further, just extend a heartfelt thank you to our partners, our customers, shareholders and not least outstanding colleagues for a very strong end 2024 and a very strong execution also of a very successful Q4 in 2024.
It is remarkable, just to put it in perspective, that Q4 just on top of EUR6 billion is as big as Vestas was back in 2013. And also Q4 is the best quarter we have had since 2017 as a single quarter. With that, let’s go to the key highlights.
So the key highlights for the full year 2024, we ended with a revenue of EUR17.3 billion and an EBIT margin of 4.3%. Vestas achieved its outlook for the year and continued the positive trajectory in 2024. The service EBIT of — I’m sorry, here we just once slow in the slide, but the service EBIT of EUR448 million ended the year, rising cost caused a challenging year for service, but the scrutiny is now complete for the business and a recovery plan is in place and we are being — and executing on it.
The order intake of 17 gigawatt gave a EUR19 billion add in value of the order intake. That is
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