Vestas grows order intake but disappoints on bottom line

The wind turbine manufacturer maintains expectations for the full year and launches an extravagant share buy-back program.

Photo: Frank Boutrup Schmidt/Vestas

Vestas disappointed in the second quarter this year compared to the same period in 2016.

While a setback was expected, the actual decline was greater than analysts had projected. Revenue dwindled 14 percent to EUR 2,206 million, which is EUR 200 million below expectations, while the result landed at EUR 247 million before taxes. The projected result has been EUR 315 million.

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