Wind turbine maker Vestas Q4 profit beats expectations
"Although ongoing geopolitical and trade volatility is expected to cause uncertainty, the execution of our record-high order backlog is expected to drive increased revenue in 2025," the company said in a statement.
Operating profit before special items grew to 759 million euros ($788 million) from a year-earlier 191 million, against a mean forecast of 672 million in an analyst poll, opens new tab provided by Vestas.
The company predicted a full-year 2025 operating profit margin before special items of 4-7% and revenue between 18 billion and 20 billion euros. In 2024, they stood at 4.3% and 17.30 billion euros, respectively.
"The year didn't evolve as expected," CEO Henrik Andersen said in a statement, adding that Vestas' Service business had battled rising costs throughout 2024.
"But with a record high value of the order intake, an all-time high order backlog and an extraordinary turnaround in Power Solutions, Vestas leaves 2024 stronger than we entered it," he said.
The company proposed a dividend of 0.55 Danish crowns per share.
($1 = 0.9629 euros)
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