Vestas Wind Systems A/S (VWDRY.PK), a Danish wind turbine company, reported that its fourth quarter profit climbed to 598 million euros from 149 million euros in the prior year.
Operating profit (EBIT) before special items also climbed to 759 million euros from 191 million euros in the previous year.
Quarterly revenues were 6.14 billion euros up 29% from 4.77 billion euros in the previous year.
The Board of Directors of Vestas Wind Systems proposed to the Annual General Meeting that a dividend of 0.55 Danish Kroner per share be distributed to the shareholders, equivalent to 15 percent of the net profit for the year. In addition, a share buyback of 100 million euros will be initiated.
Looking ahead to the fiscal year 2025, the company expects revenue to range between 18 billion euros and 20 billion euros, with an EBIT margin before special items of 4-7 percent. Total investments are anticipated to amount to approximately 1.2 billion euros in 2025.
The company's long-term financial ambitions include growing revenue faster than the market and becoming the market leader in revenue. Additionally, they aim for an EBIT margin before special items of at least 10 percent and positive free cash flow.
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