After issuing two profit warnings in less than four months, on 8 February 2012, Danish wind turbine manufacturer Vestas A/S announced disappointing year-end 2011 earnings. Revenues fell 16% to €5.8 billion, leading to a record loss of €166 million compared to €156 million of profits in 2010. Key trends in this On Point include: Vertically-integrated approach heavily exposes Vestas to North American market swings. Focus on next-generation turbines and offshore to secure positions in Europe and the US. Strategic review required to shore up Vestas China in difficult market.
After issuing two profit warnings in less than four months, on 8 February 2012, Danish wind turbine manufacturer Vestas A/S announced disappointing year-end 2011 earnings. Revenues fell 16% to €5.8 billion, leading to a record loss of €166 million compared to €156 million of profits in 2010. Key trends in this On Point include: