Vestas Wind Systems A/S · OMXCOP:VWS

Vestas Wind Systems A/S — MHI Vestas Offshore Wind — Investor Presentation (November 2019)

13 slides from Vestas Wind Systems A/S's investor presentation, Nov 27, 2019

  1. Slide 1: MHI Vestas Offshore Wind A/S

    MHI Vestas Offshore Wind A/S PHILIPPE KAVAFYAN 1 | MHI Vestas Offshore Wind A/S – Copenhagen | 27 November 2019 CEO © 2018 MHI Vestas Offshore Wind A/S

  2. Slide 2: Journey since the Joint Venture was established in 2014

    Journey since the Joint Venture was established in 2014 Installations and focus areas 4.8 GW installations and 3.1 GW order backlog Focus areas MW Establishing MVOW (2014-2018) 9,000 Safety performance • Strong Health and Safety discipline from shareholders 8,000 7,000 Winning market access through:

  3. Slide 3: Current Pipeline

    Current Pipeline 6.6 GW of projects selected V164 or V174 Overview of the order pipeline Project pipeline MW Firm & conditional orders 7,000 • Northwester 2 (Parkwind), BE - 224 MW (23 x V164-9.5 MW) inst. 2019 6,500 • Windfloat Atlantic (Windplus), PT – 25 MW (3 xV164-8.4 MW) inst. 2019 6,000 • Bor

  4. Slide 4: The V164

    The V164 Technology split and platform evolution Split of V112 Installed MW and splitV164 – The V164since by Technology quickly thereplacing beginning the of V112 theorders JV in 2014* Installation years for the V164 platform MW installed Platform rating (MW) V164 10,0 V174 1,000 948 10,0 900 V164 (

  5. Slide 5: Service

    Service The offshore service business Average remaining contract durations of the Service Backlog (Incl. FOI, COI) Time to invest in offshore services GW 8 Past the initial launch phase, V164 brings 7 long term services contract portfolio 4.4 years Legacy 6 on 2.4 GW contracts 1. OPEX optimization b

  6. Slide 6: Global offshore market

    Global offshore market Volume outlook Annual forecasted installed capacity split by region, 2018-2028 (GW)* Future top 12 markets (accumulated installation in GW 2028e)* China Asia excl. China Americas Europe China 44,0 United Kingdom 25,1 GW +16% 20 (+18% excl. China) United States 16,5 18.5 18.7 1

  7. Slide 7: Global offshore market

    Global offshore market Price levels Global bottom-fixed LCOE (USD/MWh)* Comments Increasingly competitive prices • Significant LCoE reductions achieved in recent years • “Zero subsidy” bids in Germany and the Netherlands • New markets leaning towards LCoE levels from established markets Offshore win

  8. Slide 8: Strategic focus area: establish footprints in emerging markets

    Strategic focus area: establish footprints in emerging markets USA, Japan and Taiwan drive growth in new markets USA Opportunities Opportunities in inTaiwan the USA Taiwan JapanOpportunities in Japan Opportunities in Taiwan Taiwan Forecasted installed capacity, 2019-2028e (GW)* Forecasted installed

  9. Slide 9: MVOW global footprint – our offices, manufacturing & assembly facilities

    MVOW global footprint – our offices, manufacturing & assembly facilities OFFICE location MANUFACTURING / ASSEMBLY facility 9 | MHI Vestas Offshore Wind A/S – Copenhagen | 27 November 2019 © 2018 MHI Vestas Offshore Wind A/S

  10. Slide 10: MVOW to double its business and increase profitability over the next three years

    MVOW to double its business and increase profitability over the next three years Operational Excellence: • Double revenue • Build offshore service business • Continuously improve profitability Financial Discipline: • Earn freedom to grow • Selective investment in capacity • Maintain high product dev

  11. Slide 11: Financial performance

    Financial performance Financial performance is progressing to exceed initial expectations Financial performance Financial guidance and expected 2019/20 result for MVOW kEUR 2016/17 2017/18 2018/19 Revenue 531,243 942,155 1,299,545 Accordingly, MHI Vestas Offshore Wind expects to double its revenue o

  12. Slide 12: Summary

    Summary • MVOW is a market leader in the offshore wind industry and will remain a market leader by: ✓ Continuously improving health and safety ✓ Executing and further building on the strong pipeline through: 1. Execution in robust core markets 2. Expansion in new markets 3. Development of service ✓

  13. Slide 13: Let's move the horizon.

    Let’s move the horizon. 13 | MHI Vestas Offshore Wind A/S – Copenhagen | 27 November 2019 © 2018 MHI Vestas Offshore Wind A/S

MHI Vestas Offshore Wind — Investor Presentation (November 2019) on 6ix