Vestas Issues Dividend, Receives Sharp Reviews from Analysts
Danish manufacturer Vestas Wind Systems A/S is reporting its first full-year profit since 2010 and issuing its first dividend since 2003, but still received a cautious response from analysts after projecting 2015 sales of €6.5 billion (US$7.4 billion), down from €6.9 billion in 2014.
“Turbine makers led by Vestas, General Electric Co., and Siemens AG are enjoying record installations and an outlook for further growth this year,” Bloomberg reports. But “they’re also having to cope with increased competition from regional manufacturers such as Xinjiang Goldwind Science & Technology Co. Ltd. in China and Suzlon Energy Ltd. in India, which may keep turbine prices falling this year.”
Like this story? Subscribe to The Energy Mix and never miss an edition of our free e-digest.
Vestas CEO Anders Runevad said the company’s long-term outlook is sound. “We are very early into the year,” he told Bloomberg, and the 2015 projection “is an early estimate. That doesn’t mean we don’t have an ambition to improve that, much the contrary.” (h/t to InsideClimate News for pointing us to this story)