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Vestas Wind Systems A/S (VWS.CO)

VWS.CO on Copenhagen Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Moray East Signs Firm Order With MHI Vestas For 950 MW Offshore Wind Project
Thursday, 6 Dec 2018 

Dec 6 (Reuters) - MHI VESTAS, A JOINT VENTURE BETWEEN VESTAS AND MITSUBISHI HEAVY INDUSTRIES<7011.T>, SAYS::SAYS MORAY EAST SIGNS FIRM ORDER WITH MHI VESTAS OFFSHORE WIND.MHI VESTAS CELEBRATED FINANCIAL CLOSE TODAY WITH MORAY EAST FOR THE 950 MW MORAY EAST OFFSHORE WIND FARM AS THE OFFSHORE WIND TURBINE MANUFACTURER SIGNED A FIRM TURBINE SUPPLY ORDER. THE ORDER INCLUDES A 15-YEAR SERVICE AGREEMENT..  Full Article

Vestas Receives 106 MW Order In Greece
Wednesday, 5 Dec 2018 

Dec 5 (Reuters) - VESTAS WIND SYSTEMS A/S ::VESTAS RECEIVES 106 MW ORDER IN GREECE.THE ORDER INCLUDES THE SUPPLY AND INSTALLATION OF 14 V136-4.2 MW, FIVE V136-3.6 MW AND EIGHT V117-3.6 MW TURBINES..SOME OF THE V136-4.2 MW TURBINES WILL BE EQUIPPED WITH VESTAS’ ANTI-ICING SYSTEM(TM).BESIDES THE SUPPLY AND INSTALLATION OF THE WIND TURBINES, THE CONTRACT ALSO INCLUDES A 20-YEAR SERVICE AGREEMENT..TURBINE DELIVERY IS PLANNED FOR THE SECOND AND THIRD QUARTER OF 2019, WHILST COMMISSIONING IS PLANNED FOR THE THIRD QUARTER OF 2019..  Full Article

Vestas CEO Says Wind Industry Looks Ready For Further Consolidation
Thursday, 29 Nov 2018 

Nov 29 (Reuters) - VESTAS WIND SYSTEMS A/S CEO ANDERS RUNEVAD::SAYS THE WIND INDUSTRY LOOKS READY FOR FURTHER CONSOLIDATION.SAYS STRATEGY REMAINS BASED ON ORGANIC GROWTH.  Full Article

Vestas: Jason Folsom Becomes Vestas MHI First Official Hire In The US Market
Wednesday, 28 Nov 2018 

Nov 28 (Reuters) - Vestas Wind Systems A/S ::US OFFSHORE WIND PIONEER JOINS MHI VESTAS.JASON FOLSOM BECOMES COMPANY'S FIRST OFFICIAL HIRE IN THE US MARKET.  Full Article

Vestas Secures First Multi-Brand Repowering Order From Pacificorp
Wednesday, 28 Nov 2018 

Nov 28 (Reuters) - Vestas Wind Systems A/S ::SECURES FIRST MULTI-BRAND REPOWERING ORDER FROM PACIFICORP.VESTAS HAS RECEIVED AN ORDER FROM PACIFICORP, A SUBSIDIARY OF BERKSHIRE HATHAWAY ENERGY.PROJECT WAS ORIGINALLY COMMISSIONED IN 2008.TURBINE DELIVERY WILL BEGIN IN Q1 OF 2019.TODAY'S ORDER FOLLOWS PACIFICORP'S 234 MW ORDER WITH VESTAS TO REPOWER MARENGO I AND II PROJECTS, ALSO LOCATED IN WASHINGTON.  Full Article

MHI Vestas To Hire 50 New Employees At Danish Wind Turbine Factory
Tuesday, 27 Nov 2018 

Nov 27 (Reuters) - MHI VESTAS, AN OFFSHORE WIND JV BETWEEN VESTAS WIND SYSTEMS A/S AND MITSUBISHI HEAVY INDUSTRIES<7011.T>, SAYS::TO HIRE 50 NEW EMPLOYEES AT NACELLE FACTORY IN REGIONAL DENMARK.IN ADDITION TO ADDITIONAL STAFF AND A NEW TESTING REGIME, THE EXPANSION PLANS ALSO INCLUDE AN ADDITIONAL 10,000 SQ. METERS OF FACTORY SPACE, AND 27,000 SQ. METERS OF STORAGE SPACE FOR COMPLETED NACELLES, EFFECTIVELY DOUBLING THE COMPANY'S PHYSICAL FOOTPRINT AT LINDOE. ."OFFSHORE WIND IS IN THE MIDST OF EXPLOSIVE GROWTH AROUND THE WORLD WITH GOVERNMENTS FROM TAIWAN, THE US, JAPAN, AND MANY OTHERS DECLARING AN APPETITE FOR MORE OFFSHORE WIND," SAYS CHIEF MANUFACTURING OFFICER, ROBERT BORIN.  Full Article

Vestas Secures 52 MW EPC Contract From Jordanian Auction
Tuesday, 27 Nov 2018 

Nov 27 (Reuters) - VESTAS WIND SYSTEMS A/S ::VESTAS SECURES 52 MW EPC CONTRACT FROM JORDANIAN AUCTION.THE ORDER WAS PLACED BY DAEHAN WIND POWER.THE CONTRACT INCLUDES THE SUPPLY, TRANSPORT, INSTALLATION AND COMMISSIONING OF 15 V136-3.45 MW TURBINES .TURBINE DELIVERY IS PLANNED FOR THE THIRD QUARTER OF 2019, WHILST COMMISSIONING IS EXPECTED IN THE FIRST QUARTER OF 2020.THE ORDER INCLUDES A 20-YEAR ACTIVE OUTPUT MANAGEMENT 5000 (AOM 5000) SERVICE AGREEMENT FOR THE OPERATION AND MAINTENANCE OF THE WIND PARK.  Full Article

Vestas CFO Anticipates "Very High Activity Level" For End-2018, 2019
Wednesday, 7 Nov 2018 

Nov 7 (Reuters) - VESTAS WIND SYSTEMS A/S CHIEF FINANCIAL OFFICER MARIKA FREDRIKSSON TELLS REUTERS IN AN INTERVIEW::U.S. TARIFFS DON'T IMPACT DEMAND IN THE U.S. MARKET."VERY HAPPY" WITH STABILISING WIND TURBINE PRICING.WE ARE LOOKING INTO A "VERY HIGH ACTIVITY LEVEL" ALSO FOR 2019.THE NEGATIVE CASH FLOW SO FAR THIS YEAR HAD BEEN ANTICIPATED BECAUSE OF BUILD-UP OF INVENTORIES.  Full Article

Vestas Q3 revenue slightly below forecast
Wednesday, 7 Nov 2018 

Nov 7 (Reuters) - Vestas Wind Systems A/S ::SAYS MAINTAINS 2018 GUIDANCE ON REVENUE IN RANGE BETWEEN EUR 10.0BN AND EUR 10.5BN, AND ON EBIT MARGIN BEFORE SPECIAL ITEMS OF 9.5-10.5 PERCENT.Q3 REVENUE 2,811 MILLION EUROS VERSUS 2,875 MILLION EUROS FORECAST IN REUTERS POLL.SAYS TOTAL INVESTMENTS ARE EXPECTED TO AMOUNT TO APPROX. EUR 600M (COMPARED TO PREVIOUSLY APPROX. EUR 500M), AND FREE CASH FLOW IS EXPECTED TO BE MINIMUM EUR 100M IN 2018 (COMPARED TO PREVIOUSLY MINIMUM EUR 400M).Q3 EBIT 276 MILLION EUROS VERSUS 285 MILLION EUROS FORECAST IN REUTERS POLL.Q3 ORDER INTAKE 3,261 MW VERSUS 3,330 MW FORECAST IN REUTERS POLL.CEO SAYS VESTAS DELIVERED INDUSTRY-LEADING RESULTS AND PROFITABILITY IN Q3 OF 2018, INCLUDING ANOTHER ALL-TIME HIGH ORDER BACKLOG AND ALL REGIONS CONTRIBUTING TO A 25 PERCENT INCREASE IN ORDER INTAKE YEAR-ON-YEAR.REVENUE ON PAR WITH LAST YEAR'S Q3 WHILE EARNINGS AND FREE CASH FLOW DECREASED.CEO SAYS ALTHOUGH INDUSTRY REMAINS HIGHLY COMPETITIVE, AVERAGE SELLING PRICE IN Q3 SAW CONTINUED UNDERLYING STABILISATION.CEO SAYS OUR SERVICE BUSINESS PERFORMED WELL WITH 14 PERCENT ORGANIC GROWTH IN QUARTER, WHILE OUR OFFSHORE JOINT VENTURE CONTRIBUTED TO OUR NET PROFIT WITH EUR 23M, UNDERLINING STRENGTH OF OUR THREE-LEGGED BUSINESS MODEL.GUIDANCE FOR 2018 IS UNCHANGED FOR REVENUE AND EBIT MARGIN BEFORE SPECIAL ITEMS WHILE IT HAS BEEN UPDATED FOR TOTAL INVESTMENTS AND FREE CASH FLOW.  Full Article

Vestas Gets 148 MW Order in South Africa From Enel Green Power
Thursday, 1 Nov 2018 

Nov 1 (Reuters) - VESTAS WIND SYSTEMS A/S ::ENEL GREEN POWER HAS AWARDED VESTAS AN ORDER FOR 148 MW SOUTH AFRICAN OYSTER BAY PROJECT.THE WIND PROJECT IS LOCATED IN OYSTER BAY IN THE EASTERN CAPE PROVINCE AND WILL HOST 41 V117-3.45 MW TURBINES DELIVERED IN 3.6 MW POWER OPTIMISED MODE AT A 91,5-METER HUB HEIGHT.VESTAS SOUTHERN AFRICA WILL DELIVER LOCAL CONTENT AND JOB CREATION BY PROCURING LOCALLY PRODUCED TOWERS, ENSURE SKILLS DEVELOPMENT AT PROJECT SITES AND SUPPORT SOCIAL ECONOMIC DEVELOPMENT INITIATIVES IN THE REGIONS.THE OYSTER BAY PROJECT WILL FEATURE VESTASONLINE® BUSINESS SCADA SOLUTION TO LOWER TURBINE DOWNTIME AND OPTIMISE ENERGY OUTPUT.THE CONTRACT FURTHER INCLUDES SUPPLY, INSTALLATION AND COMMISSIONING OF THE WIND TURBINES, AS WELL AS A 5-YEAR ACTIVE OUTPUT MANAGEMENT 5000 (AOM 5000) SERVICE AGREEMENT.TURBINE DELIVERY AND INSTALLATION IS PLANNED FOR THE SECOND HALF OF 2020.  Full Article

Vestas sees U.S. demand for wind turbines peaking in 2020

COPENHAGEN Wind turbine maker Vestas sees U.S. demand peaking in 2020 as government incentives, which have spurred investments in the sector, are phased out.