Danish wind energy company Vestas' revenue increased by 2% to €1.73 billion in the first quarter of 2019, compared to the same period of 2018, the company announced on Wednesday.
Vestas' CEO Anders Runevad said the strong global demand for wind energy continued in the first quarter of 2019 with the company growing its order intake by 84% to 3 gigawatts to reach an all-time high order backlog of €28 billion.
"The value of the wind turbine order amounted to € 3.3 billion as at 31 March 2019. In addition to the wind turbine order backlog, Vestas had service agreements with expected contractual future revenue of €15 billion at the end of March 2019. Thus, the value of the combined backlog of wind turbine orders and service agreements stood at €28.3 billion - an increase of €6.7 billion compared to the year-earlier period," the company explained.
Vestas said the intake of firm and unconditional wind turbine orders amounted to 3,004 megawatts in the first quarter.
By Murat Temizer