Vestas Wind Systems A/S reported net profit of €295 million for the fourth quarter of 2017, down 14% from €343 million in the prior-year period as revenue decreased 6%.
The company's revenue for the quarter stood at €3.12 billion, down from €3.31 billion in the fourth quarter of 2016.
Earnings before interest and tax, or EBIT, came in at €385 million, down 24% from €504 million.
In full-year terms, the company's net profit decreased 7% to €894 million in 2017 from €965 million in 2016.
Vestas forecasts its 2018 revenue to be in the range of €10 billion to €11 billion.
