Wind turbine manufacturer Vestas sees profits slide
Danish wind turbine manufacturing giant Vestas has reported a drop in profits of 17% in its latest revenue report.
The company closed its UK factory last year, prompting unanswered calls for the government to nationalise the site.
At the time the business said the UK site was no longer profitable and it was taking the action as profits would dip as a result of the recession.
That prediction appears to have come true with Vestas saying today (August 19) its second-quarter revenue was EUR 1,007m, a drop of 17% compared to the second quarter of 2009.
However, the second-quarter order intake was 3,031 MW, which was the highest level ever recorded and on a level with the order intake for the whole of 2009.
A spokesman for the company explained: “At half-year, Vestas had obtained about half of the forecasted firm and unconditional orders of 8,000 to 9,000 for 2010.
“The value of the backlog of firm and unconditional orders amounted to EUR 5.2 billion at 30 June.”
Vestas also reported its own renewable energy use was now 49% of its total energy consumption in the quarter.
Click here to read the report in full.
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