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

Recapping The Wind Industry's Third-Quarter Deals

Mercom Capital Group recaps investment and merger and acquisition activity during July, August and September.


Yearly Installed Capacity Figures Already Beat 2013 Numbers, More Wind On The Way: AWEA

While the American Wind Energy Association (AWEA) lobbies Congress to extend the production tax credit, the association notes wind projects now under construction signal a vibrant 2015.


Yahoo Inks Contract To Buy Kansas Wind Power

The Internet company plans to log in to the Alexander wind project, which is being built by community developer OwnEnergy.


Could Initial Offshore Wind Projects Crash New England's REC Market?

Some are concerned that the first offshore wind projects could negatively impact pricing of renewable energy credits (RECs) in New England.


Catching Up With The DOE's Down-Select Offshore Winners

The three recipients of key U.S. Department of Energy (DOE) funding provide updates on their offshore wind demonstration projects.

Canwea_id1984
Hybrid Energy Innovations 2015
Renewable NRG_id1934