Vestas reports record wind-turbine orders in first quarter
Shares of Danish wind-turbine manufacturer Vestas Wind Systems A/S rose 4.5 percent Friday after the company, which has large manufacturing facilities in Windsor and Brighton, reported record order intake for the first quarter of the year.
Vestas reported declines for both profit and revenue versus the first quarter of 2015. Profit came in at 35 million euros, or $39.7 million, down from $63.5 million a year earlier. Revenue, meanwhile, slid 4 percent to $1.66 billion.
But company officials said Vestas took in 2.4 gigawatts worth of turbine orders in the quarter, an increase of 37 percent over the first quarter last year. The company’s backlog of wind turbine orders and service agreements now stands at $20.4 billion, up 20 percent from this time last year.
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Vestas officials, meanwhile, maintained previously issued guidance on revenue of at least $10.2 billion.
Vestas’ worldwide employee count grew by nearly 1,000 during the first quarter to 21,449 due in large part to the acquisition of service company Availon Holding GmbG.
