Vestas Shares Gain on Italy Service Contract: Copenhagen Mover

Vestas Wind Systems A/S (VWS) was the biggest winner on Copenhagen’s benchmark index today after the world’s largest wind turbine maker won a 15-year service contract in Italy.

Vestas rose as much as 3.1 percent, today’s biggest jump in the Copenhagen 20 Index. The stock advanced 1.5 kroner, or 2.9 percent, to 52.85 kroner at 10:40 a.m. in the Danish capital. The shares of the Aarhus, Denmark-based company lost 5 percent yesterday.

Vestas said today it will provide maintenance for 10 Italian wind parks owned by ERG Renew SpA in an order that includes 126 turbines. Vestas said Feb. 8 that its service business is now more profitable than the division that sells wind turbines, and that it will be its fastest growing business going forward.

To contact the reporter on this story: Christian Wienberg in Copenhagen at cwienberg@bloomberg.net.

To contact the editor responsible for this story: Tim Quinson at tquinson@bloomberg.net.

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