Vestas Wind Systems AS (OCSE:VWS)

kr 96.8 -7.73 (-7.4%) Market Cap: 97.68 Bil Enterprise Value: 105.24 Bil PE Ratio: 281.81 PB Ratio: 4.87 GF Score: 73/100

Q3 2024 Vestas Wind Systems A/S Earnings Call Transcript

Nov 05, 2024 / 09:00AM GMT

Transcript

Henrik Andersen;S;Group President

Vestas Wind Systems A;Chief Executive Officer

/- -

Good morning and welcome to our presentation of our Q3 2024. Surely. It's a special day with circumstances later in the US, 5 of November election day. I'm sure we'll talk more about that. Can I also just take the opportunity to thank our partners, customers and also many of our new and old colleagues for the execution in a busy Q3 and also a very busy and packed Q4 in this year.

With that, I would like to go to our key highlights for Q3 2024. So we had revenue of EUR5.2 billion. It's an increase of 19% year-on-year, driven by higher prices and higher volumes on the deliveries. We had an EBIT margin of 4.5% higher activity and bender underlying performance improved EBIT margin by almost 3% points year-on-year.

The Service EBIT margin ended at 16%. The Service profitability reflects the ongoing scrutiny to improve the operational efficiency. We'll speak more about that later on. The order intake ended at 4.4 gigawatt flat order intake year-on-year leads to an all

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