Vestas boss expects continued declining price
The average price for a 1 MW Vestas turbine continues to be very low despite a minimal improvement in the first quarter. But price is more than just a price, says CEO Anders Runevad.
Good news was not immediately apparent in the 2018 quarterly report from Vestas. Compared with the same quarter one year before, revenue declined by 10 percent to DKK 12.6 billion (EUR 938.7 million), while the result before tax shrunk by 36 percent to DKK 1.02 billion, and the profit margin went from 11.2 to 7.5 percent. The average sales price (ASP) for new orders remains very low at DKK 5.51 million / MW.
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