Vestas’ full order book impresses

DANISH wind turbine maker Vestas wrong-footed investors yesterday, announcing a bulging order book that contrasted with solar power Evergreen Solar’s bankruptcy filing two days ago.

“Despite global uncertainty, we feel that Vestas is in a good position to get the order intake that we have outlined,” chief executive Ditlev Engel said, referring to a forecast for up to 8,000 MW of orders this year.

Vestas stood by previous guidance for full-year revenue of €7bn (£6.12m) and a margin of seven per cent. It said earnings before interest and tax reached €77m in the three months through June, against a €180m loss a year before.

The firm’s shares rose as much as 23 per cent yesterday.