Wind turbine maker sees growth in service business and higher sales prices
- Vestas Wind Systems beats expectations with larger-than-expected Q3 net profit
- Strong growth in service business and higher sales prices contribute to positive results
- Net profit of 29 million euros, compared to a loss of 147 million euros last year
- Revenue rises 11% to 4.35 billion euros
- Wind turbine orders more than double, driven by offshore and increased activity in North America and Europe
- Full-year revenue guidance narrowed to 14.5 billion euros – 15.5 billion euros
- Pre-items earnings before interest and tax margin expected to be 0% – 2%
Vestas Wind Systems has reported better-than-expected earnings for the third quarter, driven by strong growth in its service business and higher sales prices. The Danish wind-turbine maker saw a net profit of 29 million euros, compared to a loss of 147 million euros in the same period last year. Revenue also rose by 11% to 4.35 billion euros. Wind turbine orders more than doubled, with offshore projects and increased activity in North America and Europe contributing to the growth. As a result, Vestas has narrowed its full-year revenue guidance to 14.5 billion euros – 15.5 billion euros, and expects a pre-items earnings before interest and tax margin of 0% – 2%.
Factuality Level: 8
Factuality Justification: The article provides specific financial figures and statements from the company’s CEO, which can be verified. It also includes information about the company’s order intake and backlog, which adds to its credibility.
Noise Level: 7
Noise Justification: The article provides information on Vestas Wind Systems’ financial performance, including its net profit, revenue, and order intake. It also mentions the company’s narrowed full-year guidance. However, the article lacks in-depth analysis or insights into the long-term trends or antifragility of the wind energy industry. It also does not hold powerful people accountable or explore the consequences of decisions on those who bear the risks. Overall, the article provides basic information but lacks depth and actionable insights.
Financial Relevance: Yes
Financial Markets Impacted: Vestas Wind Systems
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The article pertains to the financial performance and guidance of Vestas Wind Systems, a wind-turbine maker. It does not mention any extreme events.
Public Companies: Vestas Wind Systems (VWS.CO)
Key People: Henrik Andersen (Chief Executive)
Reported publicly:
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