Vestas Wind Systems Has Bigger First-Quarter Loss Than ForecastAlex Morales
Vestas Wind Systems A/S, the wind turbine maker with the most installed capacity, posted a wider first quarter loss than forecast and said its turnaround “continues according to plan” as it boosted its first-quarter operating margin.
The manufacturer’s net loss shrank to 151 million euros from 162 million euros a year earlier, according to a statment to the Copenhagen Stock Exchange today. That compares with the average forecast of five analysts surveyed by Bloomberg for a net loss of 84 million euros. The ebit margin was minus 9.9 percent, an improvement from last year’s minus 18.5 percent.