Unlike its peer Siemens Gamesa, Vestas posted a rather weak set of figures. The result was below consensus all across the board and was lower than our expectations too. Order intake decreased yoy but the order backlog remained strong. Revenues and EBIT both declined despite some positive development in gross profits. However, despite these results, the company kept its FY21 outlook unchanged.
07 May 2021
Odd one out?
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Odd one out?
- Published:
07 May 2021 -
Author:
Kulwinder Rajpal -
Pages:
2
Unlike its peer Siemens Gamesa, Vestas posted a rather weak set of figures. The result was below consensus all across the board and was lower than our expectations too. Order intake decreased yoy but the order backlog remained strong. Revenues and EBIT both declined despite some positive development in gross profits. However, despite these results, the company kept its FY21 outlook unchanged.