Q3 2020 Vestas Wind Systems A/S Earnings Call Transcript
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Good morning, and welcome to this Q3 of -- from Vestas. And then, of course, it's nice to present Q3, and it's also especially considering a week after that we spoke last about the offshore last week.
So if we jump straight to it, key highlights of this quarter is that it's the highest-ever quarterly deliveries we have had despite what is going on in the world around COVID and the whole challenges we see there. We will go through that in short moments. When we look at the revenue, revenue was up 31% compared to Q3 '19. We had net revenue of EUR 4.8 billion and an EBIT margin before special items of 8.6%. We had another solid performance in Service, so organic growth in the quarter of 14% compared to Q3 2019 and ended with an EBIT margin in the quarter of 28.6%.
Especially also when we look at the sustainability, we continue contributing to the Paris Agreement target. So with what we now have installed fleet at the end of Q3, we displaced 165 million tonnes of CO2 on an
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