Vestas’ Third-Quarter Profit and Sales Fall Short of Forecasts as Company Narrows Full-Year Outlook

The company is also narrowing its forecast ranges for profit margin, revenue and investment.

Operating profit in the third quarter before items affecting comparability was EUR 483 million, compared with the average analyst forecast of EUR 526 million. Revenue of EUR 5.7 billion was below the average forecast of EUR 6.0 billion.

For the full year, Vestas now expects revenue of EUR 20.5–21.5 billion. The previous forecast was EUR 20.0–22.0 billion.

The forecast operating margin has been adjusted to 7.5–8.5 percent, from the previous 7.0–9.0 percent.

The investment forecast has been reduced from EUR 1.2 billion to EUR 1.0 billion.