in News Departments > FYI
print the content item

Denmark-headquartered Vestas, an international wind turbine manufacturer, announced in its third quarter 2006 interim financial report a net profit for the quarter of 18 million euros against a profit of 16 million euros in the same period for 2005. Vestas reported a third quarter 2006 revenue of 842 million euros, an expected decline of 13% on the same period in 2005 due, according to Vestas, to a difficult component situation and supply-only orders that are recognized as revenue late in the delivery process.

The company's earnings before interest and taxes (EBIT) was improved from 20 million euros in the third quarter of 2005 to 40 million euros in the same period for 2006, while net working capital increased during the period to 560 million euros. Vestas anticipates reporting an EBIT margin at year end of approximately 5% on a revenue of approximately 3.7 billion euros.

The initial response from investors was positive, with Vestas' stock price increasing 20% as trading opened Wednesday morning after earnings were released.



Trachte Inc._id1770
Latest Top Stories

Setting The Record Straight: How Many Birds Do Wind Turbines Really Kill?

Several peer-reviewed studies are more or less in agreement with avian mortality rates caused by wind turbines. However, one study, which is wildly off from the others, is most often cited in the media. Why?


Six Takeaways From The IRS' Start Of Construction Guidance: What You Need To Know

The IRS recently issued guidance to wind developers to further spell out what "start of construction" means. Will you be covered?


Eagle Take Permits For Wind Farms - Will They Fly?

Now that the U.S. Fish and Wildlife Service has issued the first permit allowing the legal take of eagles, can wind developers expect more certainty in the agency's application process?


Despite 2013 Challenges, U.S. Wind Power Reaches All-Time Low Price

In a new report, the U.S. Department of Energy details the highs and lows of the country's wind industry last year, and the agency maintains that the U.S. sector remains strong.


Mexico On Pace To Set New Renewables Investment Record

A new report says the country has spent $1.3 billion on clean energy in the first half of 2014 and could end up seeing a record year. Furthermore, wind power is slated for significant growth in the region.

Canwea_id1984
Renewable NRG_id1934
UnitedEquip_id1995
Tower Conference_id1965