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Vestas loss narrows, boosting turnaround hopes

  • Vestas (VWDRY +14.7%) shares soar to their highest level in two and a half years after reporting a narrower Q3 loss and significantly boosting its cash flow forecast for 2013, showing that turnaround efforts may be taking hold.
  • Vestas posted a net loss of €87M in Q3, an improvement from a net loss of €175M a year earlier, partly due to asset sales; revenue fell 24% to €1.44B ($1.9B) as prices fell compared with a year ago.
  • The Danish wind turbine maker now expects free cash flow of €500M-€700M vs. a minimum of €200M it forecast earlier, and says it should hit its cost saving target of €400M by the Q4 2014.
Comments (1)
  • Strike
    , contributor
    Comments (1070) | Send Message
     
    There are so many positives in this quarter that the share price could easily double or even triple within a year. QIII was a blow-out result and the order backlog is increasing exponentially. Great company. I wish I had invested more but was put off by the losses. Now I'm all-in.
    6 Nov 2013, 10:59 PM Reply Like
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