Vestas Wind Systems A/S

Vestas Wind Systems A/S

18 August 2016

Important legal information

Vestas Wind Systems was founded in western Denmark in the year 1898 and is, according to the firm itself, the only global energy company dedicated exclusively to wind energy. Vestas started producing wind turbines in 1979 and have gained a market leading position with 75 GW of installed wind power and more than 50 GW under service globally. (source: company website)

Today – 18th of August – Vestas Wind Systems Q2 report is out and the results beat analyst expectations significantly. Vestas raise the 2016 full year guidance on revenue, EBIT margin, and free cash flow, according to Nyhetsbyrån Direkt. The company predicts sales of minimum 9,5 billion euro, a 500 million euro raise compared to previously communicated 9 billion euro. Expected EBIT margin for 2016 up 1,5% to minimum 12,5%. Expected free cash flow for 2016 also up, from 600 million euro to a minimum of 800 million euro (incl. the acquisition of Availon Holding). In addition, Vestas is also launching a share buy-back programme, which will continue to deliver tangible shareholder value according to the group President & CEO Anders Runevad.

The share price spiked on Vestas good Q2 results and gained >10% from yesterday´s close in the first hour of trading on the Copenhagen Stock Exchange. The improved guidance is based on better performance than expected in the first half year of 2016 and visibility for the rest of the year.

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Bloomberg consensus set the 12-month target price to DKK 512,39. As of 18th of August 2016, the share price opened at DKK 530. Currently, 16 (66,7%) analysts set Vestas on BUY, 4 (16,7%) on HOLD and 4 (16,7%) on SELL recommendation.

26/11/2022 09:11:32