Vestas has reported revenue of EUR 3,296 million in the second quarter of 2024, a decrease of 3.9 percent compared to the year-earlier period.
Vestas said the quarterly intake of firm and unconditional wind turbine orders amounted to 3,596 MW, a 54 percent increase from second quarter 2023. The value of the wind turbine order backlog was EUR 28.1 billion as at 30 June 2024.
In addition to the wind turbine order backlog, Vestas had service agreements with contractual revenue of EUR 34.9 billion.
Vestas said order intake had an average selling price of EUR 1.21 million / MW and grew more than 50 percent year-on-year.
Vestas said the value of the combined backlog of wind turbine orders and service agreements stood at EUR 63.0 billion, an increase of EUR 11.4 billion compared to the year-earlier period.
Vestas said revenue is expected to reach EUR 16.5 billion – 17.5 billion in 2024 against the previous guidance of EUR 16 billion – 18 billion, including service revenue.
Vestas expects to achieve an EBIT margin of 4-5 percent against the previous guidance of 4-6 percent. Vestas is planning investments of approx. EUR 1.2 billion in 2024.
Vestas Group President & CEO Henrik Andersen said: “We continue to execute on our strategy to build further momentum and sustain our industry leadership.”
Baburajan Kizhakedath