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Wind Turbine Manufacturers' Profits Surge

2015-08-19 12:00:00 +0100 by Tom Wolsey


Vestas Wind Systems A/S, the world’s biggest wind turbine maker, have recorded a net income of 125 million euros ($138 million) in the last three months through to 30th June.  That’s up from 94 million euros in the same quarter last year.

Good news is that they are not the only wind turbine manufacturer to report a surge in revenue for the first half of 2015.

Gamesa raised its guidance in June as the company said it’s targeting a doubling of profits by 2017; and Nordex Chief Executive Officer Lars Bondo Krogsgaard said on 30th July that he expects the company to “substantially exceed the forecasts” given at the beginning of the year, after the manufacturer ramped up turbine production to record levels in the first 6 months of 2015..

Shares in wind turbine makers have jumped this year as demand increases from the U.S. and Brazil to India and China. Vestas shares have risen 60 percent this year and are among the best performers in the Stoxx Europe 600 index. However, this is a volatile market and share prices have the potential to rise and fall significantly, so don't go investing without thoroughly researching first.

Orders at Vestas totalled 3,018 megawatts in the second quarter, just short of the quarterly record of 3,186 megawatts from the last three months of 2011. The first-half total of 4,768 megawatts exceeded the 4,289-megawatt total for the first half of 2010.

This is great news for the wind industry and Chief Executive Officer of Vestas Anders Runevad stated that; “With a combined order backlog of 16.9 billion euros, we are well-positioned for the future,” and “The profitable growth strategy is firmly on track.”

Offshore and Onshore Wind Jobs

Source: Bloomberg


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