Vestas wind power earns 205 million between January and September

The largest manufacturer of wind turbines “Vestas has achieved its maximum deliveries in a quarter and its revenues have rebounded 31% in year-on-year terms despite the broad impact that covid-19 has continued to have in the third quarter,” he said in a statement the president and CEO, Henrik Andersen.
The Danish wind company Vestas Wind Systems presented this Wednesday a profit of 205 million euros between January and September, half of what it obtained in the same period of the previous year.
The company highlighted in its quarterly results report its performance in the third quarter of this year, with most of the business figures similar to those of the same period of the previous year despite the pandemic.
He also assured that the “momentum” that wind power has acquired in recent times continues to grow for the last three months of the year.
The operating profit (EBIT) for the period reached 340 million euros, 43.3% less than in the first nine months of 2019; and EBITDA stood at 851 million euros, 13.9% less.
Turnover in the first nine months of the year amounted to 10,546 million euros, 40.6% more in year-on-year terms, thanks mainly to its progress in the Americas (68.9%) and in Asia-Pacific (65.7% ), while its sales in Europe, Africa and the Middle East remained almost flat (4.4%).
The “Services” division remained stable with a slight positive evolution in the three major regions in which Vestas divides the world, and improvements in billing were mainly achieved in the “Energy Solutions” division.
Vestas also provided details of its operations. The volume of orders between January and September reached 8.7 billion euros, a drop of 14.7% compared to the first nine months of 2019.
For its part, the number of wind turbines produced and shipped in the period amounted to 4,285 units, 24.5% more in year-on-year terms.
The company maintains its forecasts for the whole of the year, despite the “challenging environment”: a turnover of up to 15,000 million euros, an EBIT margin of between 5 and 7% and total investments below 700 million of euros.