Vestas Wind Systems A/S (VWDRY) 📈: отчетность и дивиденды за 2025

Capitalization

IFRS

Reporting Annual Quarterly

	2013	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	LTM	5 year average	CAGR 5
Капитализация, млрд €			18.69	25.25	28.57	22.33	27.48	45.23	33.38	8.5	8.79		23.03	24.68	-20.39
Выручка, млрд €				10.24	9.95	10.13	12.15	14.82	15.59	14.49	15.38	17.3	17.3	15.52	3.14
Чистая прибыль, млрд €				0.965	0.894	0.684	0.704	0.765	0.134	-1.57	0.077	0.499	0.499	-0.0190	-8.19
EV, млрд €	5.35	13.81				10.94	25.3	43.2	23.78	8.96	18.42	9.48	9.48	20.77	-26.16
EBIT, млрд €				1.69	1.63	1.41	1.5	1.09	0.462	-1.53	0.337	0.899	0.899	0.2516	-3.78
EBITDA, млрд €				1.69	1.63	1.41	1.5	1.72	1.38	-0.545	1.13	1.76	1.76	1.09	0.46
OIBDA, млрд €								1.93	1.45	-0.217	1.34	2.06	2.06	1.31	1.31
Баланс стоимость, млрд €				3.19	3.11	3.09	3.29	4.65	4.75	3.04	3.03	3.53	3.53	3.80	-5.36
FCF, млрд €				1.69	1.13	0.414	0.047	0.055	0.12	-1.01	0.135	1.18	1.18	0.0960	84.63
Операционный денежный поток, млрд €				2.18	1.63	1.02	0.823	0.743	0.996	-0.195	1.03	2.33	2.33	0.9808	25.68
Операционная прибыль, млрд €				1.42	1.23	0.921	1	1.04	0.322	-1.24	0.292	0.794	0.794	0.2416	-5.25
Операционные расходы, млрд €				0.705	0.733	0.687	0.757	0.791	1.16	1.36	0.991	1.26	1.26	1.11	9.76
CAPEX, млрд €				0.489	0.491	0.607	0.776	0.688	0.876	0.819	0.892	1.16	1.16	0.8870	11.01

	2021Q3	2021Q4	2022Q1	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	2024Q4	5 quarters average	CAGR 5
Капитализация, млрд €	13.66	12.22	9.42	8.32	7.65	7.9	9.46	9.04	7.85	8.11					8.47	0.53
Выручка, млрд €					3.91	4.78	2.83	3.43	4.35	4.77	2.68	3.07	4.65	6.14	4.26	5.18
Чистая прибыль, млрд €					-0.147	-0.541	0.015	-0.115	0.029	0.148	-0.068	-0.1471	0.1141	0.598	0.1290	32.22
EV, млрд €					20.58	9.9	11.17	9.14	8.2	21.52	27	24.66	17.74	9.48	20.08	-15.12
EBIT, млрд €					-0.14	-0.8801	-0.293	-0.0881	0.0566	0.182	-0.068	-0.1719	0.2111	0.812	0.1930	34.86
EBITDA, млрд €					-0.14	-0.88	-0.293	-0.088	0.25	0.2798	0.131	-0.1722	0.2102	0.918	0.2734	26.82
OIBDA, млрд €										0.3838	0.131	-0.1974	0.3072	1.13	0.3509	24.11
Баланс стоимость, млрд €					3.71	3.04	3.01	2.83	2.97	3.03	3.06	2.91	2.91	3.53	3.09	3.10
FCF, млрд €					-0.804	1.28	-1.14	-0.141	-0.258	1.68	-0.953	0.549	-0.183	1.76	0.5706	0.93
Операционный денежный поток, млрд €					-0.614	1.54	-0.974	0.048	-0.031	1.98	-0.755	0.831	0.089	2.17	0.8630	1.85
Операционная прибыль, млрд €					-0.127	-0.441	0.066	-0.068	0.07	0.252	-0.068	-0.1722	0.2111	0.812	0.2070	26.37
Операционные расходы, млрд €					0.288	0.303	0.306	0.307	0.295	0.342	0.312	0.3174	0.2775	0.301	0.3100	-2.52
CAPEX, млрд €					0.19	0.255	0.17	0.189	0.227	0.306	0.198	0.282	0.272	0.403	0.2922	5.66

	5 quarters average	CAGR 5

Cash flow Cash flow quarterly Assets

Balance sheet

IFRS

Reporting Annual Quarterly

	2011	2012	2013	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	LTM	5 year average	CAGR 5
Наличность, млрд €						3.22	3.2	2.89	2.86	3.04	2.39	2.35	3.32	3.79	3.79	2.98	4.51
Short Term Investments €						0.011	0.007	0.422	0.173	0.111	0.116	0.2159	0.003	0.16	0.16	0.1212	7.59
Long term investments €			0.001	0.2444	0.2661	0.6533	2.35	1.86	1.4							1.31	39.39
Total Receivables €						1.4	1.65	1.9	2.87	3.42	3.97	2.68	3.08	5.36	5.36	3.70	9.40
Total Current Assets €						6.95	8.01	8.56	10.44	12.25	12.86	13.63	14.92	16.09	16.09	13.95	5.60
Чистые активы, млрд €					1.39	1.33	1.25	1.32	1.67	2.02	2.09	1.75	3.04		15.02	2.11	12.73
Активы, млрд €						9.93	10.87	11.9	14.33	18.16	19.71	20.09	22.51	24.64	24.64	21.02	6.29
Short Term Debt €	0.006	0.293	0.004	0.604					0.159	0.487	0.704	0.248	0.163		0.163	0.3522	0.50
Long Term Debt €			0.604	0.0036	0.5376	0.496	0.497	0.498	0.521	0.524						0.5072	1.10
Задолженность, млрд €						6.74	7.76	8.8	10.99	13.46	14.95	17.03	19.47	21.1	21.1	17.20	9.41
Чистый долг, млрд €						-2.72	-2.7	-2.39	-2.04	-1.69	-0.958	0.075	-3.29	-3.79	-3.79	-1.9306	17.53
Долг, млрд €			0.608	0.6076			0.497	0.498	0.68	1.01	1.44	2.43	3.39		3.39	1.79	37.89
Interest income €						0.025	0.014	0.015	0.039	0.016	0.019	0.037	0.205			0.0632	39.36
Расходы на обслуживание долга €						0.026	0.015	0.022	0.047	0.04	0.052	0.063	0.235	0.194	0.194	0.1168	37.14
Чист. проц. доходы, млрд €						-0.014	-0.013	-0.022	-0.024	-0.043	-0.049	-0.042	-0.066		0.2295	-0.0448	22.42
Goodwill €				0.215	0.252	0.309	0.304	0.379	0.386	1.27	1.51	1.51	1.51			1.24	31.36
Амортизация, млрд €						0.0000	0.0001	0.000161	0.000172	0.6309	0.921	0.9875	0.789	0.864	0.864	0.8385	6.49
Себестоимость, млрд €						8.11	7.99	8.5	10.39	13.28	14.03	14.37	14.1	15.24	15.24	14.20	2.79
Товарно материальные запасы €						1.99	2.7	2.99	4.1	5.29	5.67	6.37	6.53	6.01	6.01	5.97	2.58

	2017Q3	2017Q4	2018Q1	2018Q2	2018Q3	2018Q4	2019Q1	2019Q2	2019Q3	2019Q4	2020Q4	2021Q1	2021Q2	2021Q3	2021Q4	2022Q1	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	2024Q4	5 quarters average	CAGR 5
Наличность, млрд €																		1.11	2.35	1.68	1.48	1.67	3.29	2.29	2.64	2.17	3.79	2.84	2.87
Short Term Investments €																		-0.2167	-0.2159	-0.2429	0.2851	0.004	0.003	0.059	0.116	0.159	0.16	0.0994	121.51
Long term investments €	0.4236	0.4515	0.4958	0.4527	0.4712	0.5414	1.45	1.37	1.15	1.4																		1.18	20.93
Total Receivables €																		4.12	3.94	4.02	4.13	4.52	3.08	3.19	3.11	1.41	5.36	3.23	11.72
Total Current Assets €																		13.44	13.63	13.46	13.68	14.03	14.92	14.92	15.62	14.78	16.09	15.27	1.52
Чистые активы, млрд €												2.1	2.04	2.02	2.09	3.88	1.97	1.89	1.75	3.01	1.78							2.08	-2.01
Активы, млрд €																		20.45	20.09	19.91	20.33	20.86	22.51	22.6	23.62	22.92	24.64	23.26	1.82
Short Term Debt €																0.243	0.238	0.225	0.248	0.222	0.191	0.677	0.163	0.185	0.174			0.2780	-1.85
Long Term Debt €		0.5969	0.6114	0.5784	0.5765	0.5712	0.658	0.498	0.523	0.521	0.524																	0.5448	-4.45
Задолженность, млрд €																		16.72	17.03	16.89	17.48	17.88	19.47	19.54	20.69	20	21.1	20.16	1.62
Чистый долг, млрд €																		1.32	0.075	1.25	1.41	1.75	0.099	1.14	0.773	-2.17	-3.79	-0.7896	-307.30
Долг, млрд €																1.96	1.98	2.43	2.62	3.16	2.88	3.42	3.39	3.43	3.41			3.31	3.44
Расходы на обслуживание долга €															0.047	0.006	0.006	0.065	0.023	0.036	0.0579	0.0319	0.036		0.0492			0.0422	6.45
Чист. проц. доходы, млрд €														-0.04	0.021	0.006	-0.006	-0.065	0.023	-0.034	-0.058	-0.032	0.058					-0.0086	20.32
Goodwill €														1.27	1.51	1.51	1.52	1.53	1.51	1.51	1.51	1.51	1.51					1.51	0.00
Амортизация, млрд €																		0.0000	0.0001	0.0000	0.000122	0.1934	0.0978	0.199	0.209	-0.000898	0.106	0.1222	1.62
Себестоимость, млрд €																		3.75	4.95	2.64	3.21	4	4.25	2.44	2.92	4.16	5.03	3.76	3.43
Товарно материальные запасы €																		7.06	6.37	6.91	7.11	7.01	6.53	7.26	7.51	6.9	6.01	6.84	-1.65

Share

IFRS

Reporting Annual Quarterly

	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	LTM	5 year average	CAGR 5
EPS	1.66	1.67	1.36	1.32	1.95	0.1606	-1.56	0.0254	0.1648		0.1648	0.1482	-38.99
Цена акции ао		23.08	25.18	33.67	78.23	10.17	9.6	10.49	4.53	5.11	5.11	7.98	-12.86
Число акций ао, млн	1083.16	1045.16	984.57	970.45	1046.11	1054.96	1006.18	3029.4	3027.54		3027.54	1832.84	23.68
FCF/акцию	1.56	1.09	0.4205	0.0484	0.0526	0.1137	-1.01	0.0446	0.3888		0.3888	-0.0821	49.19

	2021Q3	2021Q4	2022Q1	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	2024Q4	2025Q1	2025Q2	5 quarters average	CAGR 5
EPS					-0.2962	-1.25	0.0219	-0.12	0.03	0.0495	-0.0224	-0.0486	0.0377	0.1975			0.0427	31.88
Цена акции ао			9.36	8.39	7.8	7.74	9.63	9.44	8.12	8.14					5.03	5.11	7.17	-11.55
Число акций ао, млн	1045.45	1054.96	1006.58	991.67	980	1021.8	982.26	958.33	966.67	996.34							985.08	-0.50
FCF/акцию					-0.8204	1.25	-1.16	-0.1471	-0.2669	0.5614	-0.3145	0.1813	-0.0604	0.5827			0.1901	0.75

Efficiency

IFRS

Reporting Annual Quarterly

	2013	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	LTM	Industry average	5 year average	CAGR 5
ROE, %				30.25	28.73	22.12	21.38	16.44	2.82	-40.35	2.54	15.22		15.22	14.51	-0.6660	-1.53
ROA, %				9.72	8.22	5.75	4.91	4.21	0.6798	-7.9	0.3615	2.12		2.12	6.32	-0.1057	-12.82
ROIC, %	1.59	17.82	21.59	27.28	24.53	19.15	22.68	17.19	3.11					-8.89	12.45	17.33	-33.84
ROS, %					8.98	6.75	5.8	5.16	0.8597	-10.85	0.5006	2.89	2.89	2.89	8.11	-0.7419	27.44
ROCE, %					52.47	45.48	44.87	23.14	9.7	-23.3	3.97	9.81	25.38	25.38	15.90	5.11	21.21
Ebit margin, %							12.36	7.34	2.96	-10.58	2.19	5.2	5.2	5.2		0.9940	11.93
Рентаб EBITDA, %					16.41	13.93	12.36	11.6	8.87	-3.76	7.32	10.19	10.19	10.19	16.11	6.56	2.81
Чистая рентаб, %				9.43	8.98	6.75	5.8	5.16	0.8597	-10.85	0.5006	2.89		2.89	8.57	-0.2879	-10.95
Operation Margin, %					12.36	9.09	8.27	6.98	2.07	-8.59	1.9	4.59	4.59	4.59	11.65	0.9120	17.27
Чистая процентная маржа, %	-1.35	5.67	8.13	9.43	8.98	6.75	5.8	5.16	1.07					-3.29	8.85	5.55	-34.65
Доходность FCF, %		5.65	5.91	6.7	3.97	1.85	0.171	0.1216	0.3595	-11.94	1.54					-1.9496	55.20

	2017Q1	2017Q2	2017Q3	2017Q4	2018Q1	2018Q2	2018Q3	2019Q1	2019Q2	2020Q4	2021Q3	2021Q4	2022Q1	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	2024Q4	2025Q2	Industry average	5 quarters average	CAGR 5
ROE, %															-3.96	-17.77	0.4987	-3.54	0.9489	5	-2.29	-4.94	3.82	19.68		14.51	4.25	31.53
ROA, %															-0.7189	-2.69	0.0753	-0.5715	0.1408	0.6825	-0.3015	-0.6365	0.4902	2.51		6.32	0.5489	29.75
ROIC, %	10.19	11.22	14.58	13.82	9.54	12.39	11.65	16.95	8.05	9.96																12.45	11.80	-4.27
ROS, %																-11.31	0.5302	-3.35	0.6662	3.1	-2.54	-4.79	2.45	9.74	2.89	8.11	1.55	-202.62
ROCE, %																-28.76	-9.69	-1.25	0.8039	2.42	-0.8652	-2.1	2.5	9.44	25.38	15.90	6.87	-296.55
Ebit margin, %																			1.3	3.81	-2.54	-5.6	4.54	13.22	5.2		2.96	-215.41
Рентаб EBITDA, %																-18.4	-10.36	-2.57	5.74	5.86	4.89	-5.61	4.52	14.95	10.19	16.11	5.79	15.82
Чистая рентаб, %															-3.76	-11.31	0.5302	-3.35	0.6662	3.1	-2.54	-4.79	2.45	9.74		8.57	1.59	25.73
Operation Margin, %																-9.22	2.33	-1.98	1.61	5.28	-2.54	-5.61	4.54	13.22	4.59	11.65	2.84	-212.56
Доходность FCF, %											2.18	4.79	-11.92	-4.41	-10.51	16.19	-12.09	-1.56	-3.29	20.7							3.99	5.04

Coefficients

IFRS

Reporting Annual Quarterly

	2013	2014	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	LTM	Industry average	5 year average	CAGR 5
P/E			26.16	31.96	32.65	39.04	59.13	249.14	-5.4	281.92	26.58		26.58	15.75	122.27	-14.78
P/BV			7.91	9.18	7.22	8.35	9.72	7.03	2.9	7.14	3.74		3.74	3.16	6.11	-17.39
P/S			2.47	2.87	2.2	2.26	3.05	2.14	0.613	1.41	0.7669		0.7669	1.64	1.60	-24.13
P/FCF				25.2	53.94	584.79	822.41	278.2	-8.38	65.13	170.59	19.57	19.57	11.74	105.02	-41.19
E/P				0.0313	0.0306	0.0256	0.0169	0.004	-0.185	0.0088	0.0033	0.0217	0.0217	3.37	-0.0294	40.24
EV/EBIT						2.43	10	17.51	-5.84	54.66	10.54	10.54	10.54		17.48	-9.65
EV/EBITDA			0.81	1.19	7.86	16.86	25.13	19.81	-16.43	16.36	5.38		5.38	16.72	10.05	-26.53
EV/S	0.8792	2				2.08	2.92	0.519	0.6182	1.2	0.5481	0.5481	0.5481	1.81	0.6867	1.10
EV/FCF	5.43	16.28				538.32	785.54	67.41	-8.83	136.44	8.05	8.05	8.05	16.61	42.22	-34.62
Debt/EBITDA		0.6513			0.358	0.453	0.5881	1.11	-4.45	3.01	3.7	1.92	1.92	2.54	1.06	11.58
Netdebt/Ebitda				-1.65	-1.69	-1.36	-0.9802	-0.6927	-0.1376	-2.92	-2.15	-2.15	-2.15	0.97	-1.6101	25.42
Debt/Ratio				0.71	0.74	0.0474	0.0557	0.74	0.1208	0.1504	0.1504	0.1374	0.1374	0.21	0.2598	-28.59
Debt/Equity				2.49	2.84	0.2065	0.2172	2.89	0.7973	1.12	0.2255	5.96	5.96	0.79	2.20	15.58
Debt/Net Income	-7.41	1.55				0.9659	1.32	10.72	-1.54	43.99	43.99	6.79	6.79	3.20	20.79	-8.73
PEG												53.95	53.95		53.95	0.00
Бета							0.86	0.91	1.16	3.44	-5.45	1.89	1.89	0.81	0.3900	15.74
Индекс Альтмана				4.4	3.24	3.07	3.46	1.75	15.1	115.06	93.17	-0.3074	-0.3074	7.17	44.95	-170.62

	2019Q2	2019Q3	2019Q4	2020Q4	2021Q1	2021Q2	2021Q3	2021Q4	2022Q1	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	2024Q4	2025Q1	2025Q2	Industry average	5 quarters average	CAGR 5
P/E									-12.31	-69.88	-52.03	-14.61	630.71	-78.65	-11.05	292.9			406.7	26.69			15.75	127.32	-180.56
P/BV											2.06	2.6	3.15	2.71	2.16	7.04	8.44	8.16	6.82	3.74			3.16	6.84	-11.88
P/S											1.95	1.65	3.34	0.5332	0.4266	1.37	1.65	1.58	1.31	0.8021			1.64	1.34	-10.15
P/FCF								20.88	-8.39	-22.66	-9.51	6.18	-8.27	-64.15	-30.41	4.83						19.57	11.74	-15.6860	-218.80
E/P								0.0014	-0.0812	-0.0143	-0.0192	-0.0684	0.0016	-0.0127	0.0037	0.0183						0.0217	3.37	0.0065	68.45
EV/EBIT															144.95	118.23	-397.13	-143.49	84.05	11.67		10.54		-86.8720	-148.39
EV/EBITDA											-16.8	-7.41	-7.07	-103.86	-8.11	29.65	34.77	50.48	39.53	8.72			16.72	32.63	-21.71
EV/S			5.77	15.13										2.67	1.88	4.51	10.07	8.04	3.82	1.54		0.5481	1.81	4.80	-44.13
EV/FCF			32.57	121.1										-64.82	-31.79	12.82	-28.34	44.92	-96.93	5.37		8.05	16.61	-13.3860	-177.75
Debt/EBITDA									-2.22	-13.63	-10.29	-5.12		-32.76	13.67	12.11	26.19	-19.79				1.92	2.54	6.82	-32.47
Netdebt/Ebitda												-0.0852	-4.25	-16	7.01	0.3539	8.71	-4.49	-10.3	-4.12		-2.15	0.97	-2.4700	-175.59
Debt/Ratio	0.0466	0.0481	0.0474	0.0557										0.1418	0.1639	0.1504	0.1518	0.1443				0.1374	0.21	0.1496	-3.47
Debt/Equity	0.2113	0.2102	0.2065	0.2172										1.02	1.15	1.12	1.12	1.17				5.96	0.79	2.10	38.97
Debt/Net Income	6.91	2.24	2.4	1.8										-25.07	117.86	22.89	-50.46	-23.18				6.79	3.20	14.78	-43.49
PEG																						53.95		53.95	0.00
Бета																					-0.9249	1.89	0.81	0.4825	-242.95
Индекс Альтмана					-1.82	-10.81	-1.46	-0.3268		2.42	1.47	14.54		1.44							93.17	-0.3074	7.17	22.06	-173.13

Dividends

IFRS

Reporting Annual Quarterly

	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2025	LTM	Industry average	5 year average	CAGR 5
Див.выплата, млрд	0.1403	0.116	0.201	0.278	0.25	0.197	0.209	0.228	0.05			0.0551		0.1868	-27.52
Дивиденд		0.0252	0.0432	0.0574	0.0638	0.0748	0.0774	0.0904	0.0028		0.0245	0.0245		0.0540	-20.01
Див доход, ао, %			0.1852	0.2101	0.2814	0.2641	0.179	0.2857	0.2105	0.1889	0.5813	0	5.57	0.2891	26.56
Дивиденды / прибыль, %	35.8	16.93	20.83	31.1	36.55	27.98	27.32	170.15	-3.18			131.63	40.00	51.76	-161.36
Dividend Coverage Ratio											9.06	9.06		9.06	0.00

	2015Q1	2016Q1	2017Q2	2018Q2	2019Q2	2020Q2	2020Q3	2020Q4	2021Q1	2021Q2	2021Q3	2021Q4	2022Q1	2022Q2	2022Q3	2022Q4	2025Q2	Industry average	5 quarters average	CAGR 5
Див.выплата, млрд							0.001	0.001	0.228	0.228	0.05	0.05	0.05	0.05	0	0			0.0856	-26.17
Дивиденд	0.0252	0.0432	0.0574	0.0638	0.0748	0.0774				0.0904				0.018					0.0649	-22.36
Див доход, ао, %	0.188	0.1961	0.1966	0.2849	0.2587	0.2504				0.2635				0.2149				5.57	0.2545	-5.48
Дивиденды / прибыль, %							0.3521	0.1776	-373.77	256.18	40.98	294.12	-6.54	-42.02	-0.0026	-3.3E-5		40.00	49.11	-104.07
Dividend Coverage Ratio																	9.06		9.06	0.00

Other

IFRS

Reporting Annual Quarterly

	2018	2019	2020	2021	2022	2023	2024	LTM	CAGR 5
Всего задолженность	7.41	9.35	11.23						14.86
CAPEX/Выручка, %			4.64	5.62	5.65	5.8	6.68	6.68	7.56
Персонал, чел				29 229	29 427	28 438	30 586		1.14

	2023Q4	2024Q1	2024Q2	2024Q3	2024Q4	CAGR 5
CAPEX/Выручка, %	6.41	7.39	9.19	5.85	6.56	0.46

	CAGR 5

Investing Port

Vestas Wind Systems A/S

Reporting Vestas Wind Systems A/S

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