Tough competition pushes Vestas back in Q1

The Danish wind turbine manufacturer saw both revenue and profits decline after a quarter with tough competition. The company has announced a record-large order book, even though the order intake was disappointing during the quarter.

Photo: /ritzau/Carsten Ingemann

Vestas was not able to live up to analyst expectations in the first quarter, where both revenue and profits took a significant dive.

Sales fell to EUR 1.694 million against EUR 1.885 million in the same period the year prior. According to Ritzau Finans, analysts had expected that revenue would land at EUR 1.828 billion.

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