Vestas Wind Systems (VWSYF) Posts Big Profits, Beats Estimates, Maintains 09 Outlook

Posted by Tate Dwinnell | # |
11:21:22 am on February 11, 2009

Vestas Wind Systems (VWSYF) is the largest wind energy company in the world so its earnings reports provide a good barometer of the state of the sector.  The Danish company posted big revenue and earnings growth in 2008, but as always the market places the most importance on the future.  The company didn’t disappoint there either, maintaining estimates for this year but did acknowledge that job cuts aren’t out of the question if the global economy continues to deteriorate.

The company posted a profit of 316 million euros (double over the year ago period) which smashed estimates of 242 million euros on revenues of 2.48 billion euros (24% increase over year ago quarter). 

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