The wind turbine manufacturer earned 582 million DKK in 2023. The year before, the loss was a staggering 12 billion DKK, according to the company's annual report on Wednesday morning.
This is a development that the company's CEO, Henrik Andersen, is extremely pleased with.
- Vestas' performance improved throughout 2023, and we are pleased that Vestas returned to profitability and reached the upper part of our expectations, he says in the report, says Henrik Andersen.
The year's positive result was helped very well by a solid end to the year. In the fourth quarter alone, Vestas had a profit of 1.1 billion DKK. kr.
The Danish giant also experienced growth last year when it comes to revenue.
In total, Vestas had revenue of just under 115 billion kroner, compared to just over 108 billion kroner the year before.
More growth
The growth appears to continue, if the company's announcement on Wednesday morning is to be believed. This year, revenue is expected to be in the range of 119 to 134 billion kroner. However, the statement is subject to some uncertainty.
- Our results in 2023 were helped by the improved business environment, but continued geopolitical volatility is expected to cause uncertainty in 2024, says Henrik Andersen, elaborating:
- Our strategic path towards our long-term ambitions is clear, and our focus remains to remain disciplined to continue building our momentum.
Overall, Vestas expresses that the world is more uncertain today "than many people have ever experienced". This is what it says in the first part of the annual report. According to the company, stable supply chains and energy supply have been taken for granted for decades.
- But today governments and societies must rebuild energy security and stability. Here, wind energy can make a unique contribution, the company writes further.
For the full year, Vestas set a record with order intake of 18.4 gigawatts, which was also driven by the strong end of 2023.
ritzau jel
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