In the first quarter of 2015, Vestas generated revenue of EUR 1,519m – an increase of 18 percent compared to the year-earlier period.
At the end of March 2015, Vestas had service agreements with contractual future revenue of EUR 7.5bn – an increase of 9 percent compared to the end of March 2014. Service revenue amounted to EUR 255m in the first quarter of 2015 – an increase of 13 percent compared to the first quarter of 2014, which included offshore revenue.
The share of profit from the joint venture with Mitsubishi Heavy Industries Ltd. (MHI Vestas Offshore Wind A/S) on a standalone basis amounts to EUR 2m. The Group’s share of the joint venture’s revenue since 1 January 2015 at the end of the period amounts to EUR 88m.
Vestas has now upgraded its 2015 guidance on revenue from minimum EUR 6.5bn to minimum EUR 7.5bn.
Group President & CEO Anders Runevad said: “This has been a historically strong first quarter on revenue, margins, order intake, and return on invested capital. The first quarter results reaffirm that Vestas is making good progress toward achieving its profitable growth objectives and that we are in a very strong position in an otherwise highly competitive industry.”