Vestas Wind Systems AS (VWDRY) Backlog Breakdown

Details the composition of unfulfilled orders, providing insight into future revenue streams and demand stability.

Vestas Wind Systems' backlog for Wind Turbines surged significantly in 2024, reflecting strong demand despite a recent dip. The Service backlog shows steady growth but faces currency-related challenges. The latest earnings call highlights a mixed outlook: while revenue and onshore project performance improved, the order intake dropped sharply due to U.S. policy uncertainties. Offshore ramp-up costs and a decline in service revenue due to currency headwinds present risks. However, sustainability achievements and a robust EBIT margin outlook suggest potential long-term resilience.