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Vestas: 2020 Revenue, EBIT Margin Before Special Items In Line With Expectations

Vestas Wind Systems A/S (VWDRY.PK) said its full year 2020 revenue increased while earnings decreased, and free cash flow stayed at around the same level of prior year. Revenue was 14.8 billion euros, with an EBIT margin before special items of 5.1 percent, and total investments of 659 million euros, all in line with expectations.

For 2021, the company projects revenue to range between 16 billion euros and 17 billion euros, including service revenue, which is expected to grow by approximately 15 percent. Vestas anticipates an EBIT margin before special items of 6-8 percent, with a service EBIT margin of approximately 24 percent. Total investments are expected to amount to approximately 1 billion euros in 2021.

The Board of Vestas Wind Systems A/S proposed to the Annual General Meeting that a dividend of 8.45 Danish kroner per share be distributed to the shareholders.

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