Vestas Wind Systems A/S

LSE:0NMK.LIndustrials

——At close · Market cap —

0NMK.L · Income statement · TradingHolo

EUR billions	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	YoY
Revenue	14.8	15.6	14.5	15.4	17.3	18.8	+8.8%
Cost of revenue	13.3	14.0	14.3	14.1	15.2	16.3	+7.1%
Gross profit	1.5	1.6	0.2	1.3	2.1	2.5	+21.4%
Research & development	0.3	0.4	0.6	0.4	0.6	0.7	+20.7%
Selling, general & administrative	0.5	0.7	0.8	0.9	0.9	1.0	+7.2%
Selling & marketing	0.3	0.4	0.4	0.5	0.5	0.5	+1.9%
Operating expenses	0.9	1.3	1.8	1.0	1.3	1.5	+17.3%
Operating income	0.7	0.3	(1.6)	0.3	0.8	1.0	+27.8%
Interest expense	0.0	0.0	0.0	0.0	0.0	0.0	−100.0%
Interest income	0.2	0.2	0.2	0.0	0.0	0.0	—
Other income / expense	0.2	(0.1)	(0.1)	(0.2)	(0.1)	0.0	+127.0%
Pre-tax income	0.9	0.2	(1.7)	0.1	0.7	1.0	+47.4%
Income tax	0.2	0.1	(0.1)	0.0	0.2	0.3	+22.7%
Net income	0.8	0.1	(1.6)	0.1	0.5	0.8	+55.9%
Discontinued operations	0.0	0.0	0.0	0.0	0.0	0.0	—
Other net income adjustments	0.0	0.0	0.0	0.0	0.0	0.0	—
EPS, basic (per share)	0.78	0.13	(1.56)	0.08	0.50	0.78	+56.0%
EPS, diluted (per share)	0.78	0.13	(1.56)	0.08	0.49	0.77	+57.1%
EBITDA	1.1	0.9	(0.6)	0.4	1.1	1.5	+32.1%
Depreciation & amortization	0.3	0.5	0.4	0.4	0.4	0.4	+9.3%
Weighted average shares (shares)	980,770,488	1,030,769,230	1,006,177,880	1,006,364,931	1,018,369,425	1,010,389,610	−0.8%
Weighted average diluted shares (shares)	982,954,880	1,007,970,584	1,006,177,558	1,009,799,713	1,010,125,562	1,003,844,683	−0.6%
Gross margin	10.5%	10.0%	1.3%	8.3%	11.9%	13.3%	+1.4 pts
Operating margin	4.7%	1.9%	−11.0%	1.9%	4.6%	5.4%	+0.8 pts
Net margin	5.2%	0.9%	−10.9%	0.5%	2.9%	4.1%	+1.2 pts

EUR billionsUpdated Tue 31 Mar ·

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Amounts are shown in the stated units; per-share amounts and shares are unscaled. Negative amounts are in brackets.

Statements are reported in EUR; the shares trade in DKK.