Vestas reported a weak set of Q2 results but this was expected given the back-end loaded profile of this year. The Q2 orders of 5.7GW were very strong and came in above consensus, driven by both the US and Brazil. This gives good visibility for next year with a stable ASP at €0.75m/MW. Wind turbines’ margin of 6% was soft, while Services’ at 28.4% beat expectations. Vestas narrowed its full-year guidance on revenue and EBIT, and increased its capex.
15 Aug 2019
Soft turbine margins, strong services
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Soft turbine margins, strong services
Vestas Wind Systems A/S (0NMK:LON) | 0 0 0.0% | Mkt Cap: 150,935m
- Published:
15 Aug 2019 -
Author:
Luis Pereira -
Pages:
3
Vestas reported a weak set of Q2 results but this was expected given the back-end loaded profile of this year. The Q2 orders of 5.7GW were very strong and came in above consensus, driven by both the US and Brazil. This gives good visibility for next year with a stable ASP at €0.75m/MW. Wind turbines’ margin of 6% was soft, while Services’ at 28.4% beat expectations. Vestas narrowed its full-year guidance on revenue and EBIT, and increased its capex.