Vestas announces 64% fall in turbine deliveries for Q1

DENMARK: Vestas has announced a 32% loss in revenue and shipped 64% fewer turbines in the first quarter of 2010.

Vestas CEO Ditlev Engel
Vestas CEO Ditlev Engel

The company, which signed a deal 2.1GW MSA with EDP Renováveis earlier this week, said its forecast for 2010 of a 10% to 11% pre-tax margin remained on course.

The 2010 forecast was made in its 2009 annual results. Vestas said the figure had been revised down by from 10% to 12%.

Other highlights from the results include pre-tax profits of €96million, a decrease of €172million, and a 3% decrease in employees to 20,693.

When Vestas announced its 2009 annual results, it said it had conditional and unconditional orders for 8-to-9GW for 2010 worth €2.2billion.

Europe will account for almost half of Vestas 2010 intake. The Americas and Asia-Pacific will account for 30% and 20% respectively.

Recently Vestas' position as the world's number one wind turbine manufacturer has come under threat from the rise of Chinese manufacturers such as Goldwind and Sinovel.


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