(2014: 2)
Manufacturer
Runevad also saw through the offshore joint venture with MHI, a difficult call to make but one that has no doubt saved the firm's V164 turbine. A lot of credit should go to Vestas chairman Bert Nordberg who instigated the turnaround prior to Runevad's arrival.
Financial performance has been good. In August, Vestas posted revenue of EUR1.75 billion in the second quarter as orders amount to over 3GW. It was its best Q2 on record, with revenue 30% higher than 2014. Growth was helped by turbine orders, up 56% on the same period last year — it was the second highest order intake in Q2 for Vestas. Orders were placed from 20 countries.
Runevad benefits from Vestas' financial position, its global footprint and its brand image. He also did well in the public vote. If there is a downside, it is new technology — it's been a quiet year for Vestas, with only the V136 turbine and the 3MW Powermode standing out.
Vestas is still number one for installations (depending on your preferred source) and global footprint. It is also a pure player, and in today's capital-intensive market that counts. Vestas is the industry weather vane, a measure of the health of the industry.
