COPENHAGEN(Reuters) – Denmark’s Vestas, the world’s biggest wind turbine maker, reported on Wednesday a higher-than-expected adjusted operating profit for the fourth quarter but warned of ongoing uncertainty for 2025.
“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 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)
(Reporting by Louise Rasmussen, editing by Anna Ringstrom and Shri Navaratnam)
