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Vestas Announces Record Year 2016

Aarhus, Denmark

For full-year 2016, revenue amounted to EUR 10.2bn, EBIT margin before special items was 13.9 percent. The activity level and earnings of the period were driven by the stable execution of strong order books for wind turbines and service, both of which continued to grow during the year as a result of solid execution and a favourable market environment. The wind turbine order intake increased from 8,943 MW in 2015 to 10,494 MW in 2016 and the value of the service order backlog increased by EUR 1.8bn to EUR 10.7bn.

For 2017, Vestas expects revenue to range between EUR 9.25bn and 10.25bn including service revenue, which is expected to grow. Vestas expects to achieve an EBIT margin before special items of 12-14 percent with the service EBIT margin remaining stable.

As a result of the strong performance during the year, the Board of Directors recommends to the Annual General Meeting that a dividend of DKK 9.71 per share, compared to DKK 6.82 last year, and equivalent to 30 percent of the net profit for the year, be distributed to the shareholders. The expected net proceeds from the sale of the office buildings will be distributed to shareholders through a DKK 705m (approx EUR 95m) share buy-back programme.



Source: IWR Online, Feb 02 2017