Quarterly sales and profit producer of wind turbines Vestas has surpassed the most courageous expectations of analysts, amid growing demand for renewable energy sources and global efforts to combat climate change.
Vestas Operating profit in the third quarter rose 55% to 429 million euros, exceeding the forecast Refinitiv in 351 million. The adjusted EBIT margin improved to 11.8% from 9.8% a year earlier.
Vestas Shares jumped 10.7%, as the consumption of orders Vestas in the third quarter amounted to 4 738 MW, which is much higher than expected by analysts strap 3 412 MW.
However, Vestas is also struggling with rising prices and falling prices for their products. Its revenues are under pressure because of rising steel prices, the imported components and transport on the background of tensions in world trade.
In the wind industry there has been a sharp decline in prices and increased competition because governments refuse to provide fixed subsidised electricity tariffs in favor of a competitive system based on auctions.
the Average sale price of electricity Vestas amounted to 0.75 million euros per megawatt, which is slightly below the forecast of 0.76 million euros.
on Tuesday the main competitor of Vestas Siemens Gamesa has postponed the forecast for 2020 in terms of profitability the operating profit (EBIT) of 8-10% for two years, complaining the decline in the price of their turbines.
