ABB_id2059
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.


Hybrid Energy Innovations 2015

Trachte_id2056
Latest Top Stories

The Song Remains The Same: AWEA Says Stable Policy Can Protect U.S. Wind Investment

Although the U.S. wind industry added more than four times the amount of wind in 2014 compared with 2013, predictable policy is needed to sustain its long-term success.


High Net-Worth Investors Claim 'All Of The Above' On Energy, Renewable And Otherwise

According to a recent Morgan Stanley poll, high-dollar investors favor investment in renewable energy technologies, such as wind and solar.


U.S. Wind Power Installations Surpassed 4.7 GW Last Year, Although China Still Leads

Bloomberg New Energy Finance reports that U.S. wind installations came back in a big way from a disappointing 2013.


IRS Specifies Performance, Quality Standards For Small Wind Turbines

The Internal Revenue Service (IRS) recently issued guidelines creating safety and performance standards for small wind turbines to be eligible for the 30% investment tax credit.


Hot Times North Of The Border: Canada Tops Previous Record For Installed Wind Capacity

For the second consecutive year, Canada's wind market has bested the country's previous mark for new installations.

Hybrid Energy Innovations 2015