Vestas hid 2 GW in its bag of goodies
The wind OEM outperforms expectations for both revenue and profit margin, while order intake is off the charts. However, continued challenges lead the turbine maker to hold back on upgrading its guidance for the full year, during which service is said to play an even larger role.
BY MAZ PLECHINGER
As expected, Vestas ended this year's third quarter showing improved results relative to Q2. A surge in activity has sent the Danish wind OEM's revenue catapulting 30 percent, landing at EUR 3.646 billion, while the bottom line presents a profit of EUR 390 million – almost two thirds higher than the same period last year, Vestas informs in its quarterly financial statement.
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