The first quarter is traditionally characterized by low activity in the wind turbine industry, and therefore analysts had also predicted a small deficit for Vestas. Nevertheless, the Danish wind turbine manufacturer surprised positively with a net profit of 5 million euros.
The result is due, among other things, to an increase in revenue, which went from 2.7 billion euros in the same period last year to 3.5 billion euros this year. Despite increased geopolitical uncertainty, Vestas maintains its expectations for the financial year.
In an interview with Marketwire, Vestas CEO Henrik Andersen says that in his opinion Vestas "has done the 'right' thing."
- We are in the process of executing a big year, where there are many things going on around us. So to come out of the first quarter and see that we are following our plan, I am super happy about that, says Henrik Andersen in the interview.
Investors are rewarding Vestas for the results achieved in the first quarter of this year by sending the share up considerably. On Tuesday morning, it is trading at a price that is 4.5 percent higher than the day before. This is even despite the overall C25 index falling by 1.1 percent.
Nevertheless, the Vestas share is still at a low level when you look at the price development of recent years. On Tuesday, the share is trading at a price of 93, which corresponds to a decline of 50 percent over the past year. And the current price is only a third of what the stock was worth when it peaked in December 2020.
/ritzau/
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