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MarketScreener Homepage  >  Equities  >  NASDAQ OMX COPENHAGEN  >  Vestas Wind Systems A/S    VWS   DK0010268606

VESTAS WIND SYSTEMS A/S

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Vestas Wind A/S : Systems Swung to 2Q Net Loss; Reintroduces Fiscal Year Guidance

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08/11/2020 | 02:54am EDT

By Dominic Chopping

 

Vestas Wind Systems AS said Tuesday that it swung to a second-quarter net loss as earnings were weighed by provisions, but that the company has reintroduced full-year guidance as visibility improved.

The Danish wind-turbine maker swung to a net loss attributable to shareholders of 7 million euros ($8.2 million), from a profit of EUR90 million a year earlier, missing an analyst's consensus of a EUR75 million profit according to a FactSet poll.

Revenue rose 67% to EUR3.54 billion compared with the consensus view of EUR2.67 billion, as order intake slipped to EUR3.2 billion from EUR4.3 billion. The total turbine and service order backlog rose to EUR35.1 billion from EUR31.5 billion.

Earnings took a hit from warranty provisions of EUR175 million in the second quarter. The extraordinary provisions cover a specific repair and upgrade of a confined, albeit considerable number of blades that are already installed, it said.

Vestas reintroduced guidance that it dropped in April, expecting full-year revenue at EUR14 billion-EUR15 billion.

However, it lowered EBIT margin before special items guidance to 5%-7% from 7%-9% previously, due to warranty provisions as well as additional costs resulting from the increased complexity around logistics and supply chain caused by the pandemic.

 

Write to Dominic Chopping at dominic.chopping@wsj.com

 

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Financials
Sales 2020 14 445 M 17 123 M 17 123 M
Net income 2020 581 M 689 M 689 M
Net cash 2020 2 368 M 2 807 M 2 807 M
P/E ratio 2020 44,1x
Yield 2020 0,76%
Capitalization 25 612 M 30 309 M 30 360 M
EV / Sales 2020 1,61x
EV / Sales 2021 1,56x
Nbr of Employees 25 865
Free-Float 99,4%
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Technical analysis trends VESTAS WIND SYSTEMS A/S
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TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 23
Average target price 120,10 €
Last Close Price 130,79 €
Spread / Highest target 18,3%
Spread / Average Target -8,17%
Spread / Lowest Target -46,1%
EPS Revisions
Managers
NameTitle
Henrik Andersen President & Group Chief Executive Officer
Anders Erik Runevad Chief Executive Officer
Bert Åke Stefan Nordberg Chairman
Tommy Rahbek Nielsen Chief Operating Officer
Marika Fredriksson Chief Financial Officer & Executive Vice President