Vestas Posts Quarterly Revenue, Earnings Gains


Turbine maker Vestas posted revenue and earning increases for the quarter ended June 30.

According to Vestas, revenue increased 30% to EUR 1.749 billion compared to last year. Net profit, meanwhile, increased 33% to EUR 125 million compared to EUR 94 million last year.Â

According to Vestas, the company's order intake amounted to 3,018 MW in the second quarter of this year. The value of the wind turbine order backlog amounted to EUR 8.8 billion. In addition to the wind turbine order backlog, Vestas had service agreements with a contractual future revenue of EUR 8.1 billion. Therefore, the value of the combined backlog of wind turbine orders and service agreements stood at EUR 16.9 billion, an increase of EUR 3.0 billion compared to the period one year earlier.

For its full year, Vestas maintains that revenue will reach EUR 7.5 billion at a minimum, and a minimum free cashflow of EUR 600 million.

To view the second-quarter interim financial report, click here.

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