Vestas’ strategy is called No. 1 in Modern Energy. To Vestas, being No. 1 means being the best, and being the best means maintaining world class safety standards at all Vestas’ locations, having the most satisfied customers, the best performing wind power plants and the most environment-friendly production. In other words: Safety & Citizenship, Business Case Certainty, Partnership and the lowest Cost of Energy. Being the market leader within wind power, Vestas aims to create the world’s strongest energy brand. To do so, Vestas must accomplish Triple15: In 2015, Vestas must achieve an EBIT margin of 15 per cent and revenue of EUR 15bn.
Wind power is modern energy because it is cost competitive, predictable, independent, fast and clean. The current price of one onshore kWh from Vestas is 4-7 eurocents. Offshore wind is more expensive to exploit, but the difference will become smaller in line with the technological development.
Being the industry’s leading player and a pure-play spokesperson, Vestas aims to ensure that wind power remains at the top of the global energy agenda. This is among other things achieved through dialogue with politicians, public servants, interest groups and NGOs the world over and through advice and information to the public about the potential of wind power, both in individual markets and worldwide. Vestas’ long-term financial priorities reflect its focus on profitability:
1. EBIT margin,
2. free cash flow and