Turnover: 10.1 billion EUR (2018)

Country: Denmark

Vestas is a manufacturer of wind power generation systems. The company manufactures and distributes turbines in particular

 

News

Vestas: pleading for shorter commissioning times in Europe 09/08/2023

  • The Danish group has forecast annual sales of between 14 and 15.5 billion euros
  • The target of installing 30 GW of wind power capacity in Europe was missed, with only 15 GW actually installed.
  • The value of Vestas' order book increased to €20 billion, compared with €18.9 billion last year.
  • 80 GW of wind power projects are planned in Europe.
  • The company's services order book continues to grow, compensating for the slowdown in wind turbine sales, and now stands at 31.6 billion euros.

The bad times in the wind energy sector have shaken Danish giant Vestas. 10/08/2022

  • Net loss of 121 million euros in Q2 2022
  • Sales fall from $3.3 billion to 3.2 billion euros
  • Caught up in the sector's difficult economic climate, the wind turbine manufacturer was hard hit by supply difficulties and rising energy costs in the first half of the year

Vestas is one of the largest wind turbine manufacturing companies in the world. In 2017, the company accounted for 16.7% of global wind turbine sales. Its business consists of two parts:

 

  • Turbine manufacturing (about 85% of its turnover)
  • The provision of services, maintenance and warranty extensions (approximately 15% of its turnover)

 

This second aspect is increasingly important as the industry's revenues increased by 10% between 2017 and 2018. Nevertheless, its turnover has been relatively stable for several years. Being listed on the stock exchange, its main shareholders are Vestas Wind Systems (3.2%) and Norges Bank Investment Management (3%).

Studies mentioning this company

The wind turbine market - France

Other companies mentioned:

  • Vestas
  • Goldwind
  • GE Renewable Energy France
  • Enercon
  • Suzlon
  • Siemens Gamesa
  • Boralex
  • New World Wind
  • Sereema
  • Atlantique Offshore Solutions (Chantiers de l'Atlantique)
  • Nordex
  • Singulair
  • Vergnet
The offshore wind market - France

Other companies mentioned:

  • Goldwind
  • Siemens Gamesa
  • Suzlon
  • Vestas
  • Enercon
  • Engie
  • Boralex
  • Atlantique Offshore Solutions (Chantiers de l'Atlantique)