🏢 Company Overview
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Founded: 1945
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Headquarters: Aarhus, Denmark
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CEO: Henrik Andersen
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Employees: Approximately 29,000 globally
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Core Business: Design, manufacture, installation, and servicing of wind turbines
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Website: vestas.com(Wikipedia)
📊 Financial Performance (2024)
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Revenue: €17.3 billion (within the projected range of €16.5–17.5 billion)
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EBIT Margin (before special items): 4.3%
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Total Investments: €1.14 billion
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Service Segment EBIT: €448 million
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Order Intake: 17 GW, valued at €19 billion
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Order Backlog: €68.4 billion
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Dividend Proposal: DKK 0.55 per share
Despite challenges such as rising costs and geopolitical uncertainties, Vestas achieved its financial targets for 2024, marking a significant turnaround from the previous year. (Vestas)
🔮 Outlook for 2025
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Projected Revenue: €18–20 billion
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Projected EBIT Margin (before special items): 4–7%
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Planned Investments: Approximately €1.2 billion
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Expected Service Segment EBIT: Around €700 million(Vestas)
Vestas anticipates continued growth in 2025, driven by its record-high order backlog and ongoing demand for renewable energy solutions. (Reuters)
⚠️ Industry Challenges
Vestas has highlighted several challenges facing the wind energy sector:
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Permitting Delays: Slow approval processes are hindering project development.
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Grid Infrastructure: Insufficient investment in grid capacity is limiting integration of wind energy.
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Market Competition: Chinese manufacturers are gaining market share, prompting calls for fairer competition.
These factors are contributing to the industry's lag in meeting global climate goals. (Financial Times)
🛠️ Product Portfolio
Vestas offers a range of wind turbines for both onshore and offshore applications. Notably, the company has developed the V236-15.0 MW™ offshore turbine, one of the most powerful in the industry, designed to maximize energy production and efficiency.
🌍 Global Presence
Vestas operates manufacturing facilities and service centers across multiple continents, including Europe, North America, South America, Asia, and Australia. This global footprint enables the company to serve a diverse customer base and adapt to regional market demands.