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Vestas Development A/S

Public limited companyCVR 41058919Aarhus NActive

Vestas Development A/S is a public limited company, based in Aarhus N, active in investment on own account, founded in 2019. The company went from a profit in 2024 to a loss of DKK 275.2m in 2025. With 16 employees, the company is about 16 times larger than the industry median. Equity grew to DKK 2.4bn in 2025.

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Key figures · financial year 2025

Net profit−DKK 275.2m−373.1% vs. 2024
EquityDKK 2.4bn+1,707.3% vs. 2024
Employees16latest month from CVR

What has changed

calculated from recorded figures and dates

Financials: 2025 against 2024

  • Net profit went from a profit of DKK 100.8m to a loss of DKK 275.2m (2024 → 2025).
  • Equity rose 1,707% (2024 → 2025), to DKK 2.4bn.

Management and owners, last 24 months

  • New in management: Kasper Dalsten (board member, 01/12/2024), Kasper Dalsten (director, 01/12/2024) and Annette Høi Butt Terndrup (board member, 25/06/2025).
  • Stepped down: Nikolaj Tyge Gertz (board member, 01/03/2025), Patrik Vilhelm Winther Setterberg (director, 01/12/2024) and Javier Rodriguez Diez (board member, 25/06/2025) (+1).

Registrations, last 24 months

  • 05/11/2025: Share capital changed from 2,000,000 DKK to 2,200,000 DKK
  • 01/01/2025: Industry changed to Investment on own account (649910)

Calculated from the latest two annual reports in sequence and from registrations in CVR. A figure that is missing in either year gives no line, and we derive no figures.

Financial statements

Financial years 2020–2025 · amounts in DKK thousand

Equity and net profit

−DKK 500mDKK 0DKK 500mDKK 1bnDKK 1.5bnDKK 2bnDKK 2.5bn202020212022202320242025
EquityNet profit
Financial figures for Vestas Development A/S
202020212022202320242025Change
Revenuenot statednot statednot statednot statednot statednot stated–
Net profit−3,272−22,537−58,69343,763100,751−275,174−373.1%
Total assets9,926133,986654,095786,050928,3822,574,436+177.3%
Equity−2,77249,691−9,00237,105133,7822,417,784+1,707.3%
Liabilities12,69884,295663,097748,945794,600156,652−80.3%
Cash and cash equivalents–21211291464,498+2,980.8%
Average number of employees––81415150%

Source: annual reports filed with the Danish Business Authority (XBRL). Figures for the company (not the group); change is the latest year against the year before. “–” means the figure is not stated in the annual report. Revenue is not stated for 2020, 2021, 2022, 2023, 2024, 2025: smaller companies may omit it, and we do not derive it from other figures.

Download the figures as CSV · free with an account, amounts in whole DKK

−DKK 300m−DKK 250m−DKK 200m−DKK 150m−DKK 100m−DKK 50mDKK 0DKK 50mDKK 100m202020212022202320242025
Net profitMedian, the industry (655 companies)

Annual reports

6 financial years
Annual reports for Vestas Development A/S
Financial yearPeriodPublishedFigures forDocuments
202501/01/2025 – 31/12/202505/07/2026The companyPDF not statedXBRL
202401/01/2024 – 31/12/202410/07/2025The companyPDFXBRL
202301/01/2023 – 31/12/202320/06/2024The companyPDFXBRL
202201/01/2022 – 31/12/202203/07/2023The companyPDFXBRL
202101/01/2021 – 31/12/202120/07/2022The companyPDFXBRL
202027/12/2019 – 31/12/202029/06/2021The companyPDFXBRL

The figures from all the annual reports are shown on this page. The documents themselves (PDF and XBRL, the machine-readable edition) are downloaded with a Pro account: sign in or create a free account, and then choose Pro. XBRL is the edition the figures on the page are read from.

Employees

monthly figures from CVR
0510152008/2309/2310/2311/2312/2301/2402/2403/2404/2405/2406/2407/2408/2409/2410/2411/2412/2401/2502/2503/2504/2505/2506/2507/2508/2509/2510/2511/2512/2501/2602/2603/2604/2605/2606/2607/26
Employees

Position in the industry

655 companies in the database

Comparison with the other companies in investment on own account based on the latest financial year.

EquityDKK 2.4bnNo. 12 of 655
Better than 98% of the companies in the industry
Number of employees16No. 29 of 655
Better than 96% of the companies in the industry

Industry median: gross profit −DKK 36,065, net profit DKK 364k, equity DKK 22.5m, 1 employees.

DKK 100kDKK 968kDKK 9.4mDKK 90.6mDKK 411.3m
Distribution of gross profit for 255 companies in the industry (latest financial year, logarithmic scale).

Compared with similar companies

size, age and company form
Rank among similar companies
GroupGross profitEquity
Companies with fewer than 20 employees69,967 companies in the comparisonnot stated
No. 83of 69,964
Better than 100%
Same industry and fewer than 20 employees636 companies in the comparisonnot stated
No. 12of 636
Better than 98%
Companies that are between 5 and 14 years old33,688 companies in the comparisonnot stated
No. 39of 33,687
Better than 100%
All companies of type A/S18,025 companies in the comparisonnot stated
No. 201of 18,024
Better than 99%

The rank is calculated among companies in the database with a figure for the latest financial year, and is shown only for groups of at least ten companies.

Compare with the industry

Investment on own account
Gross profit
  1. Vestas Development A/S–
  2. Obton A/SDKK 876.4m
  3. MS2 Holding ApSDKK 841.3m
Net profit
  1. Vestas Development A/S−DKK 275.2m
  2. Obton A/SDKK 463.9m
  3. MS2 Holding ApSDKK 136.9m
Equity
  1. Vestas Development A/SDKK 2.4bn
  2. Obton A/S−DKK 219.2m
  3. MS2 Holding ApSDKK 1.2bn
Employees
  1. Vestas Development A/S16
  2. Obton A/S11
  3. MS2 Holding ApS7

Latest financial year per company. Choose up to three companies from the largest in the industry.

Owners and group

from the Public Ownership Register
Owners
  • Wind Power Invest A/S100%
Vestas Development A/S

Management

7 active registrations

Executive management

Executive management at Vestas Development A/S
NameRoleAppointed
Thomas AlsbjergDirector19/02/2021
Kasper DalstenDirector01/12/2024

Board of directors

Board of directors at Vestas Development A/S
NameRoleAppointed
Henrik AndersenChair of the board27/12/2019
Thomas Gunner ArendtBoard member27/12/2019
Christopher Charles RogersBoard member28/08/2023
Kasper DalstenBoard member01/12/2024
Annette Høi Butt TerndrupBoard member25/06/2025
Founders
Wind Power Invest A/S
Former management (8)
Former management at Vestas Development A/S
NameRoleAppointedResigned
Steen MøllerBoard member27/12/201922/05/2023
Juan Araluce Martinez de AzagraCEO27/12/201919/02/2021
Thomas AlsbjergBoard member27/12/201919/02/2021
Nikolaj Tyge GertzBoard member19/02/202101/03/2025
Juan Araluce Martinez de AzagraBoard member19/02/202122/06/2021
Patrik Vilhelm Winther SetterbergDirector19/02/202101/12/2024
Javier Rodriguez DiezBoard member22/06/202125/06/2025
Patrik Vilhelm Winther SetterbergBoard member22/05/202301/12/2024

Signing rule: Selskabet tegnes af 2 medlemmer af bestyrelsen i forening eller af en direktør i forening med et bestyrelsesmedlem.

Address and production units

2 active production units

Hedeager 42
8200 Aarhus N

Aarhus Municipality · Postcode 8200

Other companies at the address (3)

Production units
Production unitAddressEmployeesP number
Vestas Development A/SØrestads Boulevard 108, 2300 København S111028229727
Vestas Development A/SHedeager 42, 8200 Aarhus N11025398811

Purpose

Selskabets formål er at drive udvikling, produktion, handel og service, herunder med produkter inden for vindmølleindustrien samt dermed beslægtede forretningsområder.

The purpose is quoted from the register in Danish.

Changes year by year

35 registered events
20261 changeaccounts 1
  • Annual report for 2025 published
20256 changescapital 1 · accounts 1 · management 3 · industry 1
  • Share capital changed from 2,000,000 DKK to 2,200,000 DKK
  • Annual report for 2024 published
  • Annette Høi Butt Terndrup appointed board member
  • Javier Rodriguez Diez stepped down as board member
  • Nikolaj Tyge Gertz stepped down as board member
  • Industry changed to Investment on own account (649910)
20245 changesmanagement 4 · accounts 1
  • Kasper Dalsten appointed director
  • Kasper Dalsten appointed board member
  • Patrik Vilhelm Winther Setterberg stepped down as board member
  • Patrik Vilhelm Winther Setterberg stepped down as director
  • Annual report for 2023 published
20234 changesmanagement 3 · accounts 1
  • Christopher Charles Rogers appointed board member
  • Annual report for 2022 published
  • Patrik Vilhelm Winther Setterberg appointed board member
  • Steen Møller stepped down as board member
20222 changesaccounts 1 · name 1
  • Annual report for 2021 published
  • Name changed from Wind Power Development A/S to Vestas Development A/S
202110 changescapital 1 · accounts 1 · management 8
  • Share capital changed from 500,000 DKK to 2,000,000 DKK
  • Annual report for 2020 published
  • Javier Rodriguez Diez appointed board member
  • Juan Araluce Martinez de Azagra stepped down as board member
  • Patrik Vilhelm Winther Setterberg appointed director
  • Thomas Alsbjerg appointed director
  • Juan Araluce Martinez de Azagra appointed board member
  • Nikolaj Tyge Gertz appointed board member
  • Juan Araluce Martinez de Azagra stepped down as ceo
  • Thomas Alsbjerg stepped down as board member
20197 changesfounded 1 · management 5 · ownership 1
  • Registered as Wind Power Development A/S
  • Juan Araluce Martinez de Azagra appointed ceo
  • Thomas Alsbjerg appointed board member
  • Steen Møller appointed board member
  • Henrik Andersen appointed chair of the board
  • Thomas Gunner Arendt appointed board member
  • WIND POWER INVEST A/S registered as owner (100%)

Related companies

Same industry in Aarhus

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Same people in management

Largest in the industry

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Source and updates

The information comes from the Danish Central Business Register (Danish Business Authority) and from annual reports filed with the Danish Business Authority. Last synchronised 24/10/2026.

View in CVRReport a correction