Wind turbine manufacturer Vestas has had a turnover of just over 5.3 billion euros in the third quarter of this year, equivalent to almost 40 billion kroner. This is three percent more than the same period the year before and is due to increased deliveries. This is shown in the company's financial statements, which were published on Wednesday morning.
In the quarter, Vestas earned 304 million euros after tax, equivalent to almost 2.3 billion kroner.
- The results are driven by higher deliveries and continued improvement in the execution of onshore wind projects, says CEO Henrik Andersen in a comment on the financial statements.
At the same time, the company is narrowing its expectations for sales for the entire financial year. Vestas now expects a turnover of between 18.5 and 19.5 billion euros compared to previously expected between 18 and 20 billion euros.
In the quarter, Vestas has increased its order intake by four percent. This is particularly driven by increased orders for onshore wind turbines, where order intake has increased by 60 percent.
Fluctuations in exchange rates have pulled down Vestas' sales in the third quarter. Here, the negative effect has been 163 million euros compared to the previous year. This corresponds to 1.2 billion kroner.
When a company has business in countries other than Denmark, the exchange rate has an impact on the company's sales and earnings in Danish kroner.
During the year, the dollar exchange rate has fallen significantly. This means that you get fewer euros or Danish kroner for every dollar earned.
Vestas is also initiating a share buyback program, where the company will buy back shares for 150 million euros, corresponding to around 1.1 billion kroner.
Update...
/ritzau/
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