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

Senate Passes Tax Extenders Bill With Wind PTC Extension

The legislation, which passed in the U.S. House earlier this month, will renew the critical production tax credit through the end of 2014 - giving developers only about two weeks left to start construction.


Transmission Study Shows Nebraska Could Handle A Lot More Wind Power

A new report released by the Nebraska Power Review Board finds that the state already has enough infrastructure to accommodate at least 2 GW of additional wind generation.


Can Wind Energy And Birds Coexist? Environmental Group Says Yes

The Environmental Defense Fund, a supporter of responsible wind energy development, points out ways to help mitigate impacts of turbines on birds and bats.


Another Study Finds Wind Turbines Do Not Affect Nearby Property Values

Research conducted by the University of Guelph focused on regions in Ontario, and the conclusion echoes that of previous studies.


Too Little, Too Late? U.S. House Approves Wind PTC Extension

The U.S. House of Representatives has passed a tax extenders package that would renew the wind production tax credit (PTC) and about 50 other expired tax breaks through 2014. The wind industry argues the short-term fix is virtually no fix at all.

Hybrid Energy Innovations 2015