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Announcements

Information regarding news from Vestas

Below you will find company announcements from Vestas Wind Systems A/S such as financial reports, orders, etc. which we, as a listed company, have an obligation to disclose.

News releases and other news from Vestas Wind Systems A/S and the local business units are available on the media site.

Current Share Price

220.90 +0
17 April 2014 07:15 CET
Market cap 44,997 MDKK

Company Announcements

    • 09:05 - 01 Apr 2014

      MHI Vestas Offshore Wind now operational

      Final closing of the joint venture between Vestas and Mitsubishi Heavy Industries (MHI), dedicated to offshore wind power, has now taken place. The new company, MHI Vestas Offshore Wind, has 380 employees and is headquartered in Aarhus, Denmark.

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      Final closing of the joint venture between Vestas and Mitsubishi Heavy Industries (MHI), dedicated to offshore wind power, has now taken place. The new company, MHI Vestas Offshore Wind, has 380 employees and is headquartered in Aarhus, Denmark.

      Following the approval from all relevant authorities, MHI Vestas Offshore Wind has been formally established as of 1 April 2014, ref. company announcements Nos. 41/2013 of 27 September 2013 and 9/2014 of 28 February 2014.

      The joint venture is responsible for the design, further development, procurement, manufacturing, installation, commissioning and service related to the V164-8.0 MW turbine as well as all marketing, sales and after-sales service related to offshore wind. Vestas and MHI have transferred a total of 380 employees to the new entity, which is owned equally by the parent companies.

      Anders Runevad, CEO of Vestas Wind Systems A/S and Vice Chairman of MHI Vestas Offshore Wind, is confident about the future of the new joint venture and states: “The Offshore wind power industry is very challenging and it takes just the right combination of reliable and proven technology, experience, knowledge and track record to succeed. I am confident that MHI Vestas Offshore Wind has exactly that right combination and I look forward to closely following the company towards becoming a global leader in offshore wind power.”

      “I am pleased to see MHI Vestas Offshore Wind now being operational. Vestas and Mitsubishi Heavy Industries each hold invaluable experience and knowledge which makes this joint venture an ideal opportunity and a technologically and financially robust platform to obtain a global leadership position within offshore wind,” says Chairman of the Board of MHI Vestas Offshore Wind, Masafumi Wani.

      From a financial perspective, the closing of the joint venture will only have a marginal impact on Vestas’ 2014 revenues and earnings due to the deconsolidation of the offshore business unit. A gain on the joint venture transaction of around EUR 50m will be booked as a special item.

      Furthermore, the closing will have the following balance sheet impacts for Vestas as from 1 April 2014:

      • a decrease in assets held for sale of EUR 350m as the V164 project and the offshore service order book are transferred to the joint venture,
      • a decrease in liabilities directly associated with assets held for sale of EUR 203m as the offshore service order book is transferred to the joint venture,
      • an increase in payables of EUR 51m primarily related to net project prepayments,
      • an increase in investments in associates of EUR 198m as the joint venture will be treated as an associated company in Vestas’ accounts from the time of closing,
      • an increase in cash at bank and in hand of EUR 50m as capex conducted from 1 September 2013 is reimbursed to Vestas and
      • an increase in retained earnings of EUR 50m due to the expected gain on the joint venture transaction.

      Management of MHI Vestas Offshore Wind
      The Board of Directors of MHI Vestas Offshore Wind consists of representatives from both companies chaired by Masafumi Wani, Chairman of Mitsubishi Heavy Industries Europe, Ltd. Vice Chairman of the Board of Directors is Vestas CEO Anders Runevad. 

      The management team in MHI Vestas Offshore Wind consists of:

      Chief Executive Officer: Jens Tommerup
      Co-Chief Executive Officer: Jin Kato
      Chief Financial Officer: Takao Arai
      Chief Sales Officer: Uffe Vinther-Schou
      Chief Operations Officer: Flemming Ougaard
      Chief Strategy Officer: Masato Yamada
      Chief Technical Officer: Torben Hvid Larsen
      Deputy Chief Technical Officer: Masahide Umaya

      We are already seeing the benefits of building on the capabilities and offshore track record of Vestas and MHI’s long-standing presence in global power markets and within related technologies and we have received tremendous positive feedback from our customers on the establishment of the joint venture. We look forward to taking the next steps in providing very competitive products and services to our customers as an independent company,” says Chief Executive Officer of MHI Vestas Offshore Wind, Jens Tommerup.

      The joint venture will be headquartered at:

      Dusager 4
      8200 Aarhus N
      Denmark

      The joint venture’s homepage is www.mhivestasoffshore.com and the site will become fully operational within a few hours after the disclosure of this announcement.

      Vestas’ future disclosure rules in relation to MHI Vestas Offshore Wind
      Vestas will inform the market through NASDAQ OMX Copenhagen if and when any events taking place in the joint venture are assessed to affect the price formation of the Vestas share, among other things, receipt of orders, which meet the below requirements:

      • Firm and unconditional orders from the joint venture to Vestas for Vestas-produced products (e.g. V112 turbines) with a value in excess of DKK 500m (~EUR 66m).
      • Firm and unconditional orders received by the joint venture with a value in excess of DKK 1bn (~EUR 130m).

      Contact details
      Vestas Wind Systems A/S, Denmark
      Lars Villadsen, Senior Vice President, Investor Relations
      Tel.: +45 9730 0000

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      08:30 - 01 Apr 2014

      Vestas receives 194 MW order in the USA

      Vestas has received a firm and unconditional order for 97 V100-2.0 MW turbines under the EDF Renewable Energy master supply agreement.

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      Vestas has received a firm and unconditional order for 97 V100-2.0 MW turbines under the EDF Renewable Energy master supply agreement.

      Additional information about the project

      Customer: EDF Renewable Energy
      Project name: Undisclosed at the customer’s request
      Location/Country: Texas, USA
      Number of MW: 194 MW
      Number of turbines/turbine type 97 V100-2.0 MW turbines
      Contract type: Supply-only
      Contract scope: The order includes supply and commissioning of the wind turbines, as well as a five-year Active Output Management (AOM 5000) service agreement.
      Time of delivery Delivery is expected to be completed in the fourth quarter of 2015, with commissioning completed the same year.

      Total year-to-date announced order intake in MW: 584 MW, (see vestas.com/investor).

      As the order became firm and unconditional in the first quarter local time in Vestas Americas’ headquarters in Portland, Oregon, USA, the order will count as first-quarter 2014 order intake.

      Contact details
      Vestas Wind Systems A/S, Denmark
      Lars Villadsen, Senior Vice President, Investor Relations
      Tel.: +45 9730 0000

      Vestas Americas, USA
      Chris Brown, President, Vestas-American Wind Technology

      For more information, or to arrange an interview with Chris Brown, please contact:

      Michael Zarin, Head of External Communications
      Tel.: +45 4084 1526

      A news release from Vestas-American Wind Technology regarding the above-mentioned order will also be published on vestas.com under “Company News”.

      Download company announcement (pdf)

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      16:59 - 31 Mar 2014

      Signing and completion of new five-year revolving credit facility of EUR 1bn

      Vestas confirms signing and completion of its new five-year revolving credit facility at a total amount of EUR 1bn.

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      Vestas confirms signing and completion of its new five-year revolving credit facility at a total amount of EUR 1bn.

      With reference to company announcement No. 3/2014 of 3 February 2014, Vestas hereby confirms signing and completion of its new five-year revolving credit facility on 31 March 2014 at a total amount of EUR 1bn. The facility has been successfully increased from the originally agreed total of EUR 850m and is now arranged by a group of six banks comprising of Nordea, DNB, HSBC, SEB, Société Générale and UniCredit.

      Key commercial terms of the facility
      Vestas confirms that the credit facility has been raised on attractive terms that reflect the improved credit profile of Vestas and will provide a stable, long-term financing platform that adequately supports Vestas’ objective of profitable growth.

      Key commercial terms attached to the facility include, inter alia:

      • A total credit facility amount of EUR 1bn.
      • A maturity of five years from the date of signing of the facility documentation.
      • The facility provides for both cash drawings, with a sub-limit of EUR 500m, and issuance of project-related guarantees.
      • The new facility is for general corporate purposes.
      • The new facility is unsecured.

      Rothschild acted as financial adviser to the company in relation to the refinancing and Nordea acted as coordinating bank.

      Vestas is confident that the new credit facility will form a stable foundation for its strategy of profitable growth. Going forward, Vestas will continue to assess its debt financing requirements and options across all non-public and public debt markets.

      Contact details
      Vestas Wind Systems A/S

      Henrik Guldbæk Welch, Senior Vice President, Group Treasury, Tel.: +45 9730 8205 and

      Lars Villadsen, Senior Vice President, Investor Relations, Tel.: +45 9730 7201

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      17:30 - 28 Mar 2014

      Vestas receives 98 MW order in North America

      Vestas has received a firm and unconditional order for 98 MW in North America.

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      Vestas has received a firm and unconditional order for 98 MW in North America.

      Additional information about the project

      Customer: Undisclosed at the customer’s request
      Project name: Undisclosed at the customer’s request
      Location/Country: North America
      Number of MW: 98 MW
      Number of turbines/turbine type Undisclosed at the customer’s request
      Contract type: Supply-only
      Contract scope: The order includes supply and commissioning of the wind turbines, as well as a 15-year Active Output Management (AOM 5000) service agreement.
      Time of delivery Deliveries for the project are expected in late 2014 with commissioning completion expected in early 2015.

      Total year-to-date announced order intake in MW: 342 MW, (see vestas.com/investor).

      Contact details

      Vestas Wind Systems A/S, Denmark
      Lars Villadsen, Senior Vice President, Investor Relations
      Tel.: +45 9730 0000

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      15:30 - 28 Mar 2014

      Share-based incentive programme 2014

      The Board of Directors of Vestas Wind Systems A/S has decided to continue the company’s share-based incentive programme and make a new launch for 2014

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      The Board of Directors of Vestas Wind Systems A/S has decided to continue the company’s share-based incentive programme and make a new launch for 2014

      The Board of Directors of Vestas Wind Systems A/S has decided to continue the company’s share-based incentive programme and make a new launch for 2014 based on the terms and conditions governing the restricted performance shares in 2013, ref. Vestas’ remuneration policy and general guidelines for incentive pay.
      The programme includes the Executive Management, Group Senior Vice Presidents, Senior Vice Presidents, Vice Presidents, Chief Specialists and Chief Project Managers in all business units in the Vestas Group as well as Vestas Wind Systems A/S. The programme for 2014 includes 197 participants.

      The number of performance shares to be granted to each participant for 2014 is based on a target level for each corporate level.

      The actual number of restricted performance shares available for distribution depends on Vestas’ performance on EBIT margin and free cash flow. In addition, specific KPIs have been defined for each of the business areas: Sales, Manufacturing & Global Sourcing and Technology & Service Solutions. The minimum outlook of a free cash flow of EUR 300m and an EBIT margin of 5 per cent must both be significantly exceeded in order for any performance shares to be granted.

      Depending on the performance, the total number of shares to be granted will amount to between 0 and a maximum of 575,000 shares (out of which between 0 and a maximum of 180,000 shares to the Executive Management). With the total present value calculated on the basis of the current share price, the grant will amount to between EUR 0 and a maximum of approx EUR 15m (value at close of NASDAQ OMX Copenhagen on 24 March 2014). The actual number of shares available for distribution will be communicated to each participant in 2015 after the disclosure of Vestas’ annual report for 2014. The number of shares available for distribution may be adjusted in the event of changes in the company’s capital structure.

      Provided that the requirements are met, the shares will be granted in two equal portions in 2017 and 2019 – conditional upon the participant not having handed in her/his notice at the time of grant as set out in the specific terms and conditions of the programme and subject to mandatory law.

      Contact details
      Vestas Wind Systems A/S, Denmark
      Lars Villadsen, Senior Vice President, Investor Relations
      Tel.: +45 9730 0000

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      16:30 - 24 Mar 2014

      Vestas Wind Systems A/S’ Annual General Meeting on 24 March 2014

      Vestas Wind Systems A/S’ Annual General Meeting on 24 March 2014

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      Vestas Wind Systems A/S’ Annual General Meeting on 24 March 2014

      The Annual General Meeting of Vestas Wind Systems A/S has been held today.

      Agenda and resolutions

      1. The Board of Directors’ report (subject was not for voting).
      2. Presentation and adoption of the annual report.
        The annual report 2013 was approved. 
      3. Resolution for the allocation of the result of the year.
        It was resolved that there will be no distribution of dividend for 2013.
      4. Election to the Board of Directors.
        Bert Nordberg, Carsten Bjerg, Eija Pitkänen, Henrik Andersen, Henry Sténson, Jørn Ankær Thomsen, Lars Josefsson and Lykke Friis were elected as members of the board. 
      5. Adoption of the remuneration of the Board of Directors.

        5.1 Approval of the final remuneration of the Board of Directors for 2013.
        The Board of Directors proposed that the remuneration of the Board of Directors and the remuneration of membership of board committees remain unchanged as approved by the general meeting in 2013.
        The final remuneration of the Board of Directors for 2013 was approved.

        5.2 Approval of the level of remuneration of the Board of Directors for 2014.
        The Board of Directors proposed that the level of remuneration for 2014 is based upon a basic remuneration of EUR 47,966 per board member as well as a remuneration of EUR 23,984 per membership of one of the board committees.
        The Board of Directors’ proposal for remuneration for 2014 was adopted. The adoption implies an increase of 10 per cent.
      6. Appointment of auditor.
        PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab was re-appointed as auditor of the company.
      7. Proposals from the Board of Directors and shareholders.

        Proposals from the Board of Directors

        7.1 Amendment (rewording) of articles 6(2-3) and 11 to the articles of association as a consequence of the changes to the Danish Companies Act.
        The amendment to the articles of association was approved.

        7.2 Decision that the annual report may be prepared and presented in English.
        98.78 per cent of the represented capital voted for the proposal, and the proposal was approved.

        7.3 Renewal of the authorisations to increase the company’s share capital (authorisations to issue new shares with or without pre-emptive rights equivalent to 10 per cent of the share capital).
        The Board of Directors was authorised to increase the company’s share capital as per the proposed. The authorisations are valid until 1 March 2019.

        7.4 Authorisation to acquire treasury shares.
        The Board of Directors was authorised to let the company acquire treasury shares as per the proposed.

        Proposals from shareholder

        7.5 Proposals from shareholder Kjeld Beyer, Denmark.

        7.5.a Requirements of accounting details in the notice convening annual general meetings.
        The proposal was not approved.

        7.5.b The company’s financial reports and company announcements must be available in Danish on the company’s website for at least five years.
        The proposal was not approved.

        7.5.c No more than two or three menu items must be required on the website to view the company’s financial reports. The Investor website must be easily accessible and in Danish.
        The proposal was not approved.

        7.5.d Refreshments provided in connection with annual general meetings must reasonably match the outlook for the coming year.
        The proposal was not approved.
      8. Authorisation of the chairman of the general meeting (with a right of substitution) to file and register the adopted resolutions with the Danish Business Authority.
        The chairman of the general meeting was authorised as per the proposed.

      After the Annual General Meeting, the Board of Directors held a statutory board meeting. At the meeting, Bert Nordberg was re-elected as chairman of the Board and Lars Josefsson was re-elected as deputy chairman of the Board.

      Contact details
      Vestas Wind Systems A/S, Denmark
      Lars Villadsen, Senior Vice President, Investor Relations
      Tel.: +45 9730 0000

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      01:10 - 07 Mar 2014

      Vestas receives 99 MW order in Finland

      Vestas has received a firm and unconditional order for two V126-3.3 MW projects in Finland with a total capacity of 99 MW.

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      Vestas has received a firm and unconditional order for two V126-3.3 MW projects in Finland with a total capacity of 99 MW.

      Additional information about the project

      Customer: TuuliWatti Oy
      Project name: Kalajoki and Siikainen
      Location/Country: Kalajoki and Siikainen, Finland
      Number of MW: 99 MW
      Number of turbines/turbine type 30 x V126-3.3 MW turbines
      Contract type: Supply-and-installation
      Contract scope: The order comprises delivery of the wind turbines together with a five-year AOM 5000 service agreement with an option for extension of up to ten years.
      Time of delivery Installation of the Kalajoki project will begin in the fourth quarter of 2014 with commissioning expected in the third quarter of 2015. Installation of the Siikainen project will begin in the third quarter of 2014 with commissioning expected in the first quarter of 2015.

      Total year-to-date announced order intake in MW: 193 MW, (see vestas.com/investor).

      Contact details

      Vestas Wind Systems A/S, Denmark
      Lars Villadsen, Senior Vice President, Investor Relations
      Tel.: +45 9730 0000

      Vestas Northern Europe, Sweden
      Klaus Steen Mortensen, President

      For more information, or to arrange an interview with Klaus Steen Mortensen, please contact:
      Michael Zarin, Head of External Communications Tel: +45 4084 1526 

      A news release from Vestas Northern Europe regarding the above-mentioned order will also be published on vestas.com under “Company News”.

      Download company announcement (pdf)

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      11:10 - 05 Mar 2014

      Vestas receives 72.6 MW order in Germany

      Vestas has received a firm and unconditional order for 22 V112-3.3 MW turbines for Germany.

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      Vestas has received a firm and unconditional order for 22 V112-3.3 MW turbines for Germany.

      Additional information about the project

      Customer: BWP Eider GmbH & Co. KG
      Project name: Bürgerwindpark Eider
      Location/Country: Schleswig-Holstein, Germany
      Number of MW: 72.6 MW
      Number of turbines/turbine type 22 x V112-3.3 MW
      Contract type: Turnkey
      Contract scope: Supply, installation and commissioning of the wind turbines, a VestasOnline® Business SCADA solution as well as a 15-year full-scope service agreement (AOM 5000).
      Time of delivery Delivery of the wind turbines will begin in the third quarter of 2014 and the wind power plant is expected to be commissioned in the fourth quarter of 2014.

      Total year-to-date announced order intake in MW: 94 MW, (see vestas.com/investor).

      Contact details

      Vestas Wind Systems A/S, Denmark
      Lars Villadsen, Senior Vice President, Investor Relations
      Tel.: +45 9730 0000

      Download company announcement (pdf)

      Download news release (pdf)

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      10:35 - 28 Feb 2014

      Vestas and Mitsubishi offshore joint venture receives approval from competition authorities

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      With reference to company announcement No. 41/2013 of 27 September 2013, we are pleased to confirm that the offshore joint venture between Vestas and Mitsubishi has received final approval from the Chinese competition authorities.

      Consequently, all relevant approvals from both European and Asian competition authorities have now been received and final closing of the joint venture is expected to take place in the beginning of the second quarter of 2014.

      Contact details

      Vestas Wind Systems A/S, Denmark
      Lars Villadsen, Senior Vice President, Investor Relations
      Tel.: +45 9730 0000

       

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      09:10 - 28 Feb 2014

      Disclosure requirement regarding share capital and number of votes as per 28 February 2014

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      As per announcement of 10 February 2014, Vestas Wind Systems A/S has completed a capital increase of nominal value DKK 20,370,410 representing 20,370,410 shares of DKK 1.00 nominal value each in connection with a private placement, ref. company announcement No. 6/2014.

      Pursuant to section 6 of Executive Order No. 1442 of 13 December 2013 on Issuers’ Disclosure Obligations, we are pleased to confirm that as per 28 February 2014, Vestas Wind Systems A/S has a share capital of nominal value DKK 224,074,513. The share capital consists of one share class, and each share of DKK 1.00 carries one vote corresponding to a total number of voting rights of 224,074,513.

      Contact details
      Vestas Wind Systems A/S, Denmark
      Lars Villadsen, Senior Vice President, Investor Relations
      Tel.: +45 9730 0000

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      07:15 - 28 Feb 2014

      Notice convening the Annual General Meeting of Vestas Wind Systems A/S

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      To the shareholders of Vestas Wind Systems A/S

      Pursuant to article 4 of the articles of association, you are hereby convened for the Annual General Meeting of Vestas Wind Systems A/S on Monday, 24 March 2014 at 1:00 p.m. (CET) at the Concert Hall Aarhus (Musikhuset Aarhus), Thomas Jensens Allé, 8000 Aarhus C, Denmark.

      Download full convening (pdf)
      More information

       

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      10:20 - 18 Feb 2014

      Information in the market regarding an offshore project

      Information in the market regarding an offshore project

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      Information in the market regarding an offshore project

      Today, there is information in the market regarding Vestas being appointed preferred supplier for an offshore project.

      Vestas can confirm that the Danish company DONG Energy has appointed Vestas as preferred supplier for an offshore project in the UK using V164-8.0 MW turbines.

      Vestas discloses this announcement based on Vestas’ obligation as a Danish listed company, ref. the Securities Trading Act, section 27(2).

      Contact details
      Vestas Wind Systems A/S, Denmark
      Lars Villadsen, Senior Vice President, Investor Relations
      Tel.: +45 9730 0000

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      09:10 - 10 Feb 2014

      Registration of share capital increase of nominally DKK 20,370,410 completed

      Registration of share capital increase of nominally DKK 20,370,410 completed

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      Registration of share capital increase of nominally DKK 20,370,410 completed

      DISCLAIMER – IMPORTANT

      ELECTRONIC VERSIONS OF THE MATERIALS YOU ARE SEEKING TO ACCESS ARE BEING MADE AVAILABLE ON THIS WEBSITE IN GOOD FAITH BY VESTAS WIND A/S (THE “COMPANY”) AND ARE FOR INFORMATION PURPOSES ONLY.

      THESE MATERIALS ARE NOT DIRECTED AT OR ACCESSIBLE BY PERSONS IN THE UNITED STATES OR PERSONS RESIDENT OR LOCATED IN AUSTRALIA, CANADA, JAPAN, SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE THE EXTENSION OF AVAILABILITY OF THE MATERIALS TO WHICH YOU ARE SEEKING ACCESS WOULD BREACH ANY APPLICABLE LAW OR REGULATION.

      These materials do not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States, Australia, Canada, Japan, South Africa or in any jurisdiction in which such offers or sales are unlawful (the “Excluded Territories”). In particular, the securities referred to in these materials have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “Securities Act”) or under the securities legislation of any state of the United States, and may not be offered, sold, resold or delivered, directly or indirectly, in or into the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. The securities referred to in these materials have not been and will not be registered under any applicable securities laws of any state, province, territory, county or jurisdiction of the Excluded Territories. Accordingly, unless an exemption under relevant securities laws is applicable, any such securities may not be offered, sold, resold, taken up, exercised, renounced, transferred, delivered or distributed, directly or indirectly, in or into the Excluded Territories or any other jurisdiction if to do so would constitute a violation of the relevant laws of, or require registration of such securities in, the relevant jurisdiction. There will be no public offer of securities in the United States or any other Excluded Territory.

      Access to the information and documents contained on the following websites may be illegal in certain jurisdictions, and only certain categories of persons may be authorized to access such information and documents. All persons who wish to have access to the documents contained on this website should first ensure that they are not subject to local laws or regulations that prohibit or restrict their right to access this website, or require registration or approval for any acquisition of securities by them. No such registration or approval has been obtained. The Company assumes no responsibility if there is a violation of applicable law and regulations by any person.

      If you are not permitted to view materials on this website or are in any doubt as to whether you are permitted to view these materials, please exit this webpage. These materials must not be released or otherwise forwarded, distributed or sent in or into the United States, Australia, Canada, Japan, South Africa or any jurisdiction in which such offers or sales are unlawful. Persons receiving such documents (including custodians, nominees and trustees) must not distribute or send them in, into or from the United States, Australia, Canada, Japan, or South Africa.

      Confirmation of understanding and acceptance of disclaimer

      1. I warrant that I am not located in the United States and am not resident or located in Australia, Canada, Japan, South Africa or any other jurisdiction where accessing these materials is unlawful.

      2. I agree that I will not transmit or otherwise send any materials contained in this website to any person in the United States, Australia, Canada, Japan, South Africa or any other territory where to do so would breach applicable local law or regulation.

      3. I am resident and physically present outside each of the Excluded Territories and, in that case, I am authorized to access the information and documents on this website without being subject to any legal restriction and without any further action required by the Company.

      4. I have read and understood the disclaimer set out above. I understand that it may affect my rights and I agree to be bound by its terms. I confirm that I am permitted to proceed to electronic versions of the materials.

      I AGREE 

      I DO NOT AGREE

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      16:40 - 04 Feb 2014

      Share capital increase of DKK 20,370,410 will be completed

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      Share capital increase of DKK 20,370,410 will be completed

      DISCLAIMER – IMPORTANT

      ELECTRONIC VERSIONS OF THE MATERIALS YOU ARE SEEKING TO ACCESS ARE BEING MADE AVAILABLE ON THIS WEBSITE IN GOOD FAITH BY VESTAS WIND A/S (THE “COMPANY”) AND ARE FOR INFORMATION PURPOSES ONLY.

      THESE MATERIALS ARE NOT DIRECTED AT OR ACCESSIBLE BY PERSONS IN THE UNITED STATES OR PERSONS RESIDENT OR LOCATED IN AUSTRALIA, CANADA, JAPAN, SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE THE EXTENSION OF AVAILABILITY OF THE MATERIALS TO WHICH YOU ARE SEEKING ACCESS WOULD BREACH ANY APPLICABLE LAW OR REGULATION.

      These materials do not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States, Australia, Canada, Japan, South Africa or in any jurisdiction in which such offers or sales are unlawful (the “Excluded Territories”). In particular, the securities referred to in these materials have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “Securities Act”) or under the securities legislation of any state of the United States, and may not be offered, sold, resold or delivered, directly or indirectly, in or into the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. The securities referred to in these materials have not been and will not be registered under any applicable securities laws of any state, province, territory, county or jurisdiction of the Excluded Territories. Accordingly, unless an exemption under relevant securities laws is applicable, any such securities may not be offered, sold, resold, taken up, exercised, renounced, transferred, delivered or distributed, directly or indirectly, in or into the Excluded Territories or any other jurisdiction if to do so would constitute a violation of the relevant laws of, or require registration of such securities in, the relevant jurisdiction. There will be no public offer of securities in the United States or any other Excluded Territory.

      Access to the information and documents contained on the following websites may be illegal in certain jurisdictions, and only certain categories of persons may be authorized to access such information and documents. All persons who wish to have access to the documents contained on this website should first ensure that they are not subject to local laws or regulations that prohibit or restrict their right to access this website, or require registration or approval for any acquisition of securities by them. No such registration or approval has been obtained. The Company assumes no responsibility if there is a violation of applicable law and regulations by any person.

      If you are not permitted to view materials on this website or are in any doubt as to whether you are permitted to view these materials, please exit this webpage. These materials must not be released or otherwise forwarded, distributed or sent in or into the United States, Australia, Canada, Japan, South Africa or any jurisdiction in which such offers or sales are unlawful. Persons receiving such documents (including custodians, nominees and trustees) must not distribute or send them in, into or from the United States, Australia, Canada, Japan, or South Africa.

      Confirmation of understanding and acceptance of disclaimer

      1. I warrant that I am not located in the United States and am not resident or located in Australia, Canada, Japan, South Africa or any other jurisdiction where accessing these materials is unlawful.

      2. I agree that I will not transmit or otherwise send any materials contained in this website to any person in the United States, Australia, Canada, Japan, South Africa or any other territory where to do so would breach applicable local law or regulation.

      3. I am resident and physically present outside each of the Excluded Territories and, in that case, I am authorized to access the information and documents on this website without being subject to any legal restriction and without any further action required by the Company.

      4. I have read and understood the disclaimer set out above. I understand that it may affect my rights and I agree to be bound by its terms. I confirm that I am permitted to proceed to electronic versions of the materials.

      I AGREE 

      I DO NOT AGREE

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      18:45 - 03 Feb 2014

      Annual report 2013

      – Revenue, EBIT and free cash flow above expectations

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      – Revenue, EBIT and free cash flow above expectations

      Summary: 2013 marked the final year of Vestas’ two-year turnaround. Vestas has delivered on the main focus areas over the turnaround period; annualised fixed capacity costs have been lowered by EUR 484m compared to the fourth quarter of 2011, net investments have been lowered by more than EUR 500m to EUR 239m since 2011 and working capital has been lowered to EUR (596)m – the lowest level ever.

      For full year 2013, revenue amounted to EUR 6,084m, EBIT before special items was EUR 211m and the free cash flow amounted to EUR 1,009m. This was all above the latest expectations of minimum EUR 5.5bn, minimum 2 per cent and around EUR 1bn, respectively. The higher-than-expected revenue and EBIT were primarily driven by a smooth execution in terms of installation and transfer of risk combined with favourable weather conditions in December.

      For 2014, Vestas expects revenue to amount to minimum EUR 6bn with an EBIT margin before special items of at least 5 per cent and a free cash flow of minimum EUR 300m.

      A double-digit EBIT margin in the fourth quarter and a free cash flow generation of more than EUR 1bn in 2013 are major achievements for Vestas and our dedicated employees,” says Anders Runevad, Group President & CEO, and he continues: “Yet, the satisfactory completion of the two-year turnaround is at least as important as it creates a solid starting point for the future strategy for Vestas, where Vestas will continue to focus on profitable growth.”

      Contact details
      Vestas Wind Systems A/S, Denmark

      Investors/analysts 
      Lars Villadsen, Senior Vice President, Investor Relations, Tel.: +45 9730 7201

      Media 
      Michael Zarin, Head of External Communications, Tel.: +45 4084 1526

      Company announcement (pdf)
      Annual report 2013 (pdf)
      Shareholder information (pdf)
      Track record - 31 December 2013 (pdf) 

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      18:25 - 03 Feb 2014

      Agreement on new five-year credit facility of EUR 850m

      Agreement on new five-year credit facility of EUR 850m

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      Agreement on new five-year credit facility of EUR 850m

      THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, SOUTH AFRICA OR ANY JURISDICTION IN WHICH SUCH PUBLICATION OR DISTRIBUTION IS UNLAWFUL.

      Vestas has agreed on a new five-year revolving credit facility at a total amount of EUR 850m. The facility has been agreed with a group of four banks comprising Nordea, DNB, HSBC and SEB. The facility documentation is expected to be completed in the first quarter of 2014.

      Background and existing facilities
      The new facility will replace the existing EUR 650m revolving credit facility expiring in January 2015 with an extension option until mid-2016. In addition, Vestas has a combination of project-related guarantee facilities. Vestas is comfortable that the existing debt structure satisfies the ongoing financing requirements of the business; however, the new five-year credit facility will further extend the company’s maturity profile and strengthen its financial position.

      Key commercial terms of the facility
      The new revolving credit facility and improved funding structure provides a stable, long-term financing platform that adequately supports Vestas’ objective of profitable growth. The facility has been raised on attractive terms that reflect the improved credit profile of Vestas.

      Key commercial terms attached to the facility include, inter alia:

      • A maturity of five years from the date of signing of the facility documentation.
      • The facility provides for both cash drawings and issuance of project-related guarantees.
      • The facility contains a sub-limit of EUR 500m for cash drawings.

      The new facility is for general corporate purposes. In addition, Vestas will be securing new bilateral project-related guarantee facilities. The new revolving credit facility is credit approved subject to documentation and a successful capital increase to be completed by Vestas.

      Rothschild is acting as financial adviser to the company in relation to the refinancing.

      Going forward, Vestas will continue to assess its debt financing requirements and options across all non-public and public debt markets. 

      Post completing of our two-year turnaround plan, the new credit facility is designed to support Vestas’ continued progress across projects, markets and customers. The new facility reflects the strengths of Vestas’ flexible operating business model and allows the company to continue its process of increasing profitability and strong cash generation,” says Marika Fredriksson, Executive Vice President & CFO, and continues: “We are pleased with the support we have received from our key relationship banks and we are grateful for their continued commitment to our company. This agreement is a sign of confidence in Vestas and our strategy for the years ahead. Together with additional capacity for project-related guarantees, this facility puts Vestas on the firm footing to achieve our objective of profitable growth.

      Contact details
      Vestas Wind Systems A/S

      Henrik Guldbæk Welch, Senior Vice President, Group Treasury, Tel.: +45 9730 5621 and

      Lars Villadsen, Senior Vice President, Investor Relations, Tel.: +45 9730 7201

      Download pdf

      Disclaimer and cautionary statement
      The securities referred to in this announcement have not been, and will not be, registered under the Securities Act or under the securities legislation of any state of the United States, and may not be offered, sold, resold or delivered, directly or indirectly, in or into the United States absent registration except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. The securities referred to in this announcement have not been and will not be registered under any applicable securities laws of any state, province, territory, county or jurisdiction of Australia, Canada, Japan, South Africa or in any jurisdiction in which such offers or sales are unlawful (the “Excluded Territories”). Accordingly, unless an exemption under relevant securities laws is applicable, any such securities may not be offered, sold, resold, taken up, exercised, renounced, transferred, delivered or distributed, directly or indirectly, in or into the Excluded Territories or any other jurisdiction if to do so would constitute a violation of the relevant laws of, or require registration of such securities in, the relevant jurisdiction. There will be no public offer of securities in the United States or any Excluded Territory.

      This document contains forward-looking statements concerning Vestas' financial condition, results of operations and business. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. Forward-looking statements are statements of future expectations that are based on management’s current expectations and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance, or events to differ materially from those expressed or implied in these statements.

      Forward-looking statements include, among other things, statements concerning Vestas' potential exposure to market risks and statements expressing management’s expectations, beliefs, estimates, forecasts, projections and assumptions. A number of factors that affect Vestas' future operations and could cause Vestas' results to differ materially from those expressed in the forward-looking statements included in this document, including (without limitation): (a) changes in demand for Vestas' products; (b) currency and interest rate fluctuations; (c) loss of market share and industry competition; (d) environmental and physical risks, including adverse weather conditions; (e) legislative, fiscal, and regulatory developments, including changes in tax or accounting policies; (f) economic and financial market conditions in various countries and regions; (g) political risks, including the risks of expropriation and renegotiation of the terms of contracts with governmental entities, and delays or advancements in the approval of projects; (h) ability to enforce patents; (i) product development risks; (j) cost of commodities; (k) customer credit risks; (l) supply of components; and (m) customer-created delays affecting product installation, grid connections and other revenue-recognition factors.

      All forward-looking statements contained in this document are expressly qualified by the cautionary statements contained or referenced to in this statement. Undue reliance should not be placed on forward-looking statements. Additional factors that may affect future results are contained in Vestas' annual report for the year ended 31 December 2013 (available at www.vestas.com/investor) and these factors also should be considered. Each forward-looking statement speaks only as of the date of this document. Vestas does not undertake any obligation to publicly update or revise any forward-looking statement as a result of new information or future events others than as required by Danish law. In light of these risks, results could differ materially from those stated, implied or inferred from the forward-looking statements contained in this document.

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      18:20 - 03 Feb 2014

      Issue of up to 20,370,410 new shares

      Issue of new shares

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      Issue of new shares

      DISCLAIMER – IMPORTANT

      ELECTRONIC VERSIONS OF THE MATERIALS YOU ARE SEEKING TO ACCESS ARE BEING MADE AVAILABLE ON THIS WEBSITE IN GOOD FAITH BY VESTAS WIND A/S (THE “COMPANY”) AND ARE FOR INFORMATION PURPOSES ONLY.

      THESE MATERIALS ARE NOT DIRECTED AT OR ACCESSIBLE BY PERSONS IN THE UNITED STATES OR PERSONS RESIDENT OR LOCATED IN AUSTRALIA, CANADA, JAPAN, SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE THE EXTENSION OF AVAILABILITY OF THE MATERIALS TO WHICH YOU ARE SEEKING ACCESS WOULD BREACH ANY APPLICABLE LAW OR REGULATION.

      These materials do not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States, Australia, Canada, Japan, South Africa or in any jurisdiction in which such offers or sales are unlawful (the “Excluded Territories”). In particular, the securities referred to in these materials have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “Securities Act”) or under the securities legislation of any state of the United States, and may not be offered, sold, resold or delivered, directly or indirectly, in or into the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. The securities referred to in these materials have not been and will not be registered under any applicable securities laws of any state, province, territory, county or jurisdiction of the Excluded Territories. Accordingly, unless an exemption under relevant securities laws is applicable, any such securities may not be offered, sold, resold, taken up, exercised, renounced, transferred, delivered or distributed, directly or indirectly, in or into the Excluded Territories or any other jurisdiction if to do so would constitute a violation of the relevant laws of, or require registration of such securities in, the relevant jurisdiction. There will be no public offer of securities in the United States or any other Excluded Territory.

      Access to the information and documents contained on the following websites may be illegal in certain jurisdictions, and only certain categories of persons may be authorized to access such information and documents. All persons who wish to have access to the documents contained on this website should first ensure that they are not subject to local laws or regulations that prohibit or restrict their right to access this website, or require registration or approval for any acquisition of securities by them. No such registration or approval has been obtained. The Company assumes no responsibility if there is a violation of applicable law and regulations by any person.

      If you are not permitted to view materials on this website or are in any doubt as to whether you are permitted to view these materials, please exit this webpage. These materials must not be released or otherwise forwarded, distributed or sent in or into the United States, Australia, Canada, Japan, South Africa or any jurisdiction in which such offers or sales are unlawful. Persons receiving such documents (including custodians, nominees and trustees) must not distribute or send them in, into or from the United States, Australia, Canada, Japan, or South Africa.

      Confirmation of understanding and acceptance of disclaimer

      1. I warrant that I am not located in the United States and am not resident or located in Australia, Canada, Japan, South Africa or any other jurisdiction where accessing these materials is unlawful.

      2. I agree that I will not transmit or otherwise send any materials contained in this website to any person in the United States, Australia, Canada, Japan, South Africa or any other territory where to do so would breach applicable local law or regulation.

      3. I am resident and physically present outside each of the Excluded Territories and, in that case, I am authorized to access the information and documents on this website without being subject to any legal restriction and without any further action required by the Company.

      4. I have read and understood the disclaimer set out above. I understand that it may affect my rights and I agree to be bound by its terms. I confirm that I am permitted to proceed to electronic versions of the materials.

      I AGREE 
      I DO NOT AGREE

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      16:55 - 06 Jan 2014

      Vestas upgrades free cash flow expectations for 2013 to approx EUR 1bn

      Vestas upgrades free cash flow expectations for 2013 to approx EUR 1bn

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      Vestas upgrades free cash flow expectations for 2013 to approx EUR 1bn

      Based on preliminary reporting, Vestas upgrades the expectations for the 2013 free cash flow to approx EUR 1bn compared to the previous expectation of EUR 500-700m. The improvement is primarily driven by a better-than-expected development of the net working capital.
       
      As earlier announced, the annual report for 2013 will be disclosed on 4 February 2014.

      Contact details
      Vestas Wind Systems A/S, Denmark
      Lars Villadsen, Senior Vice President, Investor Relations
      Tel.: +45 9730 7201

      Download pdf

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    • 17:10 - 24 Dec 2013

      Vestas receives 110 MW order in the USA

      Vestas has received a firm and unconditional order for 55 V100-2.0 MW turbines in the USA.

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      Vestas has received a firm and unconditional order for 55 V100-2.0 MW turbines in the USA.

      Additional information about the project

      Customer: Undisclosed at the customer’s request
      Project name: Undisclosed at the customer’s request
      Location/Country: USA
      Number of MW: 110 MW
      Number of turbines/turbine type 55 x V100-2.0 MW
      Contract type: Supply-only
      Contract scope: The order includes supply and commissioning of the turbines, as well as a five-year Active Output Management (AOM) 4000 service agreement.
      Time of delivery Deliveries for the wind power plant are expected to take place in the second half of 2014. Commissioning is expected to take place in the first quarter of 2015.

      Total year-to-date announced order intake in MW: 5,138 MW, (see vestas.com/investor).

      Contact details

      Vestas Wind Systems A/S, Denmark
      Lars Villadsen, Senior Vice President, Investor Relations
      Tel.: +45 9730 0000

      Vestas Americas, USA
      Chris Brown, President, Vestas-American Wind Technology 

      For more information, or to arrange an interview with Chris Brown, please contact:

      Andrew Longeteig, Vestas, North America         
      Tel:  +1 503 327 7479

      A news release from Vestas-American Wind Technology regarding the above-mentioned order will also be published on vestas.com under “Company News”.

      Download company announcement (pdf)

      Download news release (pdf)

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      19:10 - 23 Dec 2013

      Vestas receives 150 MW order from an MSA with a potential of up to 568 MW more in the USA

      Vestas has received a firm and unconditional order for 75 V110-2.0 MW turbines with a potential of up to 568 MW more in the USA.

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      Vestas has received a firm and unconditional order for 75 V110-2.0 MW turbines with a potential of up to 568 MW more in the USA.

      Additional information about the project

      Customer: First Wind
      Project name: The Route 66 wind power plant
      Location/Country: Texas, USA
      Number of MW: 150 MW
      Number of turbines/turbine type 75 x V110-2.0 MW turbines
      Contract type: Supply-only
      Contract scope: The order includes supply and commissioning of the wind turbines, as well as a 10-year Active Output Management (AOM) 5000 service agreement.
      Time of delivery Deliveries for the Route 66 wind power plant are expected to take place in early 2015 with commissioning to take place in mid-2015.

      Total year-to-date announced order intake in MW: 5,028 MW, (see vestas.com/investor).

      Contact details

      Vestas Wind Systems A/S, Denmark
      Lars Villadsen, Senior Vice President, Investor Relations
      Tel.: +45 9730 0000

      Vestas Americas, USA
      Chris Brown, President, Vestas-American Wind Technology 

      For more information, or to arrange an interview with Chris Brown, please contact:

      Andrew Longeteig, Vestas, North America         
      Tel:  +1 503 327 7479

      A news release from Vestas-American Wind Technology regarding the above-mentioned order will also be published on vestas.com under “Company News”.

      Download company announcement (pdf)

      Download news release (pdf)

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      08:34 - 23 Dec 2013

      Vestas receives 117 MW order in Jordan

      Vestas has received a firm and unconditional order for 38 V112-3.0 MW turbines for Jordan.

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      Vestas has received a firm and unconditional order for 38 V112-3.0 MW turbines for Jordan.

      Additional information about the project

      Customer: Jordan Wind Project Company
      Project name: Al Tafila
      Location/Country: Jordan
      Number of MW: 117 MW
      Number of turbines/turbine type 38 x V112-3.0 MW
      Contract type: Turnkey
      Contract scope: The contract includes supply, installation and commissioning of the wind turbines, civil and electrical works, a VestasOnline® Business SCADA solution as well as a 10-year custom-designed energy based service agreement for the entire wind power plant.
      Time of delivery Delivery of the wind turbines will begin in the second quarter of 2014 and the wind power plant is expected to be commissioned in the second quarter of 2015.

      Total year-to-date announced order intake in MW: 4,878 MW, (see vestas.com/investor).

      Contact details

      Vestas Wind Systems A/S, Denmark
      Lars Villadsen, Senior Vice President, Investor Relations
      Tel.: +45 9730 0000

      Juan Araluce, Executive Vice President & CSO

      For more information or to arrange an interview with Juan Araluce, please contact:

      Michael Zarin, Head of External communication, Vestas Wind System A/S
      Tel. +45 4084 1526

      Velia Senatore, Communications Partner, Vestas Mediterranean,
      Tel: +39 099 460 6415

      A news release from Vestas Mediterranean regarding the above-mentioned order will also be published on vestas.com under “Company News”.

      Download company announcement (pdf)

      Download news release (pdf)

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      08:30 - 20 Dec 2013

      Vestas receives 220 MW order in the USA and increases the potential of the master supply agreement with EDF from 750 MW to 1,174 MW

      Vestas has received a firm and unconditional order for 110 V100-2.0 MW turbines in the USA and increases the potential of the master supply agreement with EDF announced in September 2013 from 750 MW to 1,174 MW.

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      Vestas has received a firm and unconditional order for 110 V100-2.0 MW turbines in the USA and increases the potential of the master supply agreement with EDF announced in September 2013 from 750 MW to 1,174 MW.

      Additional information about the project

      Customer: EDF Renewable Energy
      Project names: The Hereford 1 and Longhorn North wind power plants
      Location/Country: Texas, USA
      Number of MW: 220 MW
      Number of turbines/turbine type 110 x V100-2.0 MW
      Contract type: Supply-only
      Contract scope: The order includes supply and commissioning of the wind turbines, as well as at least a three-year Active Output Management (AOM) 5000 service agreement for both projects.
      Time of delivery Deliveries for both projects are expected to occur in the second half of 2014 while commissioning will be in the first half of 2015.

      Total year-to-date announced order intake in MW: 4,761 MW, (see vestas.com/investor).

      Contact details

      Vestas Wind Systems A/S, Denmark
      Lars Villadsen, Senior Vice President, Investor Relations
      Tel.: +45 9730 0000 

      Vestas Americas, USA
      Chris Brown, President, Vestas-American Wind Technology 

      For more information, or to arrange an interview with Chris Brown, please contact:

      Andrew Longeteig, Vestas, North America         
      Tel:  +1 503 327 7479

      A news release from Vestas-American Wind Technology regarding the above-mentioned order will also be published on vestas.com under “Company News”.

      Download company announcement (pdf)

      Download news release (pdf)

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      14:15 - 19 Dec 2013

      Vestas receives 50 MW offshore order for the UK

      Vestas has received a firm and unconditional order for 15 V112-3.3 MW offshore turbines for the extension of the Kentish Flats wind farm off the coast of the UK.

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      Vestas has received a firm and unconditional order for 15 V112-3.3 MW offshore turbines for the extension of the Kentish Flats wind farm off the coast of the UK.

      Additional information about the project

      Customer: Vattenfall Wind Power Ltd.
      Project name: Kentish Flats Extension
      Location/Country: Kent, UK
      Number of MW: 49.5 MW
      Number of turbines/turbine type 15 x V112-3.3 MW offshore turbines
      Contract type: Supply-and-installation
      Contract scope: The contract comprises supply, installation and commissioning of the wind turbines as well as a 5-year service and maintenance agreement (AOM 5000).
      Time of delivery Delivery of the turbines will take place in the second quarter of 2015 and the project is expected commissioned in the third quarter of 2015.

      Total year-to-date announced order intake in MW: 4,541 MW, (see vestas.com/investor).

      Contact details

      Vestas Wind Systems A/S, Denmark
      Lars Villadsen, Senior Vice President, Investor Relations
      Tel.: +45 9730 0000

      For media inquiries, please contact:

      Vestas Wind Systems A/S, Denmark
      Michael Zarin, Head of External Communications
      Tel. +45 4084 1526 / email: mizar@vestas.com

      A news release from Vestas Offshore regarding the above-mentioned order will also be published on vestas.com under “Company News”.

      Download company announcement (pdf)

      Download news release (pdf)

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      08:30 - 18 Dec 2013

      Vestas receives 350 MW order in the USA with a potential of up to 636 MW more

      Vestas has received a firm and unconditional order for 350 MW in the USA with a potential of up to 636 MW more.

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      Vestas has received a firm and unconditional order for 350 MW in the USA with a potential of up to 636 MW more.

      Additional information about the project

      Customer: Enel Green Power North America, Inc.
      Project name: Undisclosed.
      Location/Country: USA
      Number of MW: 350 MW
      Number of turbines/turbine type 175 2 MW turbines
      Contract type: Supply-only
      Contract scope: Supply and commissioning of the wind turbines as well as Active Output Management (AOM) 5000 service agreement.
      Time of delivery From 2014 through 2015.

      Total year-to-date announced order intake in MW: 4,491 MW, (see vestas.com/investor).

      Contact details

      Vestas Wind Systems A/S, Denmark
      Lars Villadsen, Senior Vice President, Investor Relations
      Tel.: +45 9730 0000

      Vestas Americas, USA
      Chris Brown, President, Vestas-American Wind Technology 

      For more information, or to arrange an interview with Chris Brown, please contact:

      Andrew Longeteig, Vestas, North America         
      Tel:  +1 503 327 7479

      A news release from Vestas-American Wind Technology regarding the above-mentioned order will also be published on vestas.com under “Company News”.

      Download pdf

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      14:00 - 13 Dec 2013

      Vestas’ financial calendar 2014

      Vestas’ financial calendar 2014

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      Vestas’ financial calendar 2014

      The Vestas Group’s financial calendar for 2014 is as follows:

      4 February 2014
      Disclosure of annual report 2013 and guidance for 2014

      7 February 2014
      Deadline for the company’s shareholders to submit a written request to the Board of Directors that a certain subject be included in the agenda for the Annual General Meeting.

      28 February 2014
      Convening for Annual General Meeting

      24 March 2014
      Annual General Meeting in Aarhus, Denmark

      9 May 2014
      Disclosure of interim financial report for Q1 2014

      20 August 2014
      Disclosure of interim financial report for Q2 2014

      7 November 2014
      Disclosure of interim financial report for Q3 2014

      Contact details
      Vestas Wind Systems A/S, Denmark
      Lars Villadsen, Senior Vice President, Investor Relations
      Tel.: +45 9730 0000

      Download pdf

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      07:55 - 04 Dec 2013

      Information in the market regarding delay of Vestas contract in Mexico

      Information in the market regarding delay of Vestas contract in Mexico

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      Information in the market regarding delay of Vestas contract in Mexico

      Today, there is information in the market that the 396 MW Mareña Renovables project in Mexico (ref. company announcements No. 14/2012 of 12 March 2012 and No. 19/2013 of 15 May 2013) has been further delayed.

      Vestas can confirm that it has agreed to extend the forbearance agreement from 30 November 2013 until 28 February 2014 subject to the fulfillment of certain conditions.

      Vestas discloses this announcement based on Vestas’ obligation as a Danish listed company, ref. the Securities Trading Act, section 27(2).

      Contact details
      Vestas Wind Systems A/S, Denmark
      Lars Villadsen, Senior Vice President, Investor Relations
      Tel.: +45 9730 0000

      Download pdf

       

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      08:30 - 06 Nov 2013

      Interim financial report – third quarter 2013

      Third quarter EBIT improved despite 27 per cent lower revenue. Outlook for 2013 upgraded on EBIT margin and free cash flow. Turnaround continues according to plan.

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      Interim financial report – third quarter 2013

      Summary

      Third quarter EBIT improved despite 27 per cent lower revenue. Outlook for 2013 upgraded on EBIT margin and free cash flow. Turnaround continues according to plan.

      Vestas upgrades the 2013 outlook on EBIT margin before special items from minimum 1 per cent to minimum 2 per cent and free cash flow is upgraded from minimum EUR 200m to EUR 500-700m.

      In the third quarter of 2013, Vestas generated revenue of EUR 1,442m – a decrease of 27 per cent to the year-earlier period. Despite the decrease in revenue, EBIT before special items increased by EUR 54m to EUR 67m due to the lower fixed cost base and improved project margins. The EBIT margin before special items was 4.6 per cent and the free cash flow increased by EUR 198m to EUR 56m compared to the third quarter of 2012.

      The intake of firm and unconditional wind turbine orders was 1,547 MW in the third quarter of 2013. The value of the wind turbine backlog amounted to EUR 7.3bn at 30 September 2013. In addition to the wind turbine order backlog, Vestas had service agreements with contractual future revenue of EUR 6.1bn at the end of September 2013. Thus the value of the combined backlog of wind turbine orders and service agreements stood at EUR 13.4bn – an improvement of EUR 400m during the quarter.

      During the third quarter, Vestas and Mitsubishi Heavy Industries Ltd. have agreed to form a joint venture dedicated to offshore wind energy. 

      In order to increase the flexibility of Vestas’ supply chain, Vestas has divested its machining and casting units to the German industry group VTC Partners GmbH. The divestment led to write downs of EUR 50m which constitutes the majority of the third-quarter special items of EUR 64m.

      Group President & CEO, Anders Runevad said: ”The improved EBIT despite a 27 per cent drop in revenue and another quarter of debt reduction are important results of the ongoing turnaround, and we remain focused on delivering according to plan in the last part of the year.”

      Contact details

      Vestas Wind Systems A/S, Denmark
      Lars Villadsen, Senior Vice President, Investor Relations
      Tel.: +45 9730 0000

      Download pdf

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      17:05 - 04 Nov 2013

      Information in the market regarding project in the USA

      Information in the market regarding project in the USA.

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      Information in the market regarding project in the USA

      Today, there is information in the market regarding a project in the USA.

      As soon as the project translates into a firm and unconditional order in accordance with Vestas’ definition, Vestas will disclose a company announcement about this.

      Vestas discloses this announcement based on Vestas’ obligation as a Danish listed company, ref. the Securities Trading Act, section 27(2).

      Contact details

      Vestas Wind Systems A/S, Denmark
      Lars Villadsen, Senior Vice President, Investor Relations
      Tel.: +45 9730 0000

      Download pdf

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      12:15 - 04 Nov 2013

      Information in the market regarding offshore project in the UK

      Information in the market regarding offshore project in the UK

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      Information in the market regarding offshore project in the UK

      Today, there is information in the market regarding an offshore project in the UK.

      As soon as the project translates into a firm and unconditional order in accordance with Vestas’ definition, Vestas will disclose a company announcement about this.

      Vestas discloses this announcement based on Vestas’ obligation as a Danish listed company, ref. the Securities Trading Act, section 27(2).

      Contact details

      Vestas Wind Systems A/S, Denmark
      Lars Villadsen, Senior Vice President, Investor Relations
      Tel.: +45 9730 0000

      Download pdf

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      17:55 - 10 Oct 2013

      Vestas receives 108 MW order in Romania

      Vestas has received a firm and unconditional order for 36 V112-3.0 MW turbines for Romania.

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      Vestas has received a firm and unconditional order for 36 V112-3.0 MW turbines for Romania.

      Additional information about the project

      Customer: S.C. Crucea Wind Farm S.R.L. / STEAG GmbH
      Project name: Crucea North
      Location/Country: Constanta county, province of Dobrogea, Romania
      Number of MW: 108 MW
      Number of turbines/turbine type 36 V112-3.0 MW turbines
      Contract type: Supply-and-installation
      Contract scope: The order includes supply, installation and commissioning of the turbines, along with a VestasOnline® Business SCADA solution and a 10-year service agreement (AOM 4000).
      Time of delivery Delivery is planned to start in April 2014 and commissioning is expected to be completed by December 2014.

      Total year-to-date announced order intake in MW: 3,643 MW.

      Contact details

      Vestas Wind Systems A/S, Denmark
      Lars Villadsen, Senior Vice President, Investor Relations
      Tel.: +45 9730 0000

      Vestas Central Europe
      Thomas Richterich, President

      For more information, or to arrange an interview with Thomas Richterich, please contact:

      Christina Buttler, Communications Partner
      Tel: +49 40 46778 5153/Mobile: +49 (0) 160 90141736

      A news release from Vestas Central Europe regarding the above-mentioned order will also be published on vestas.com.

      Download pdf

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      17:30 - 08 Oct 2013

      Vestas sells its machining and casting units to VTC

      Vestas sells its machining and casting units to VTC.

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      Vestas sells its machining and casting units to VTC

      As part of Vestas’ turnaround plan announced in January 2012 and as also restated in the interim financial report for the second quarter of 2013, Vestas has been negotiating with potential buyers of Vestas’ machining and casting units.

      These negotiations have now been finalised with the signing of a binding sales and supply agreement after which the German industrial group VTC Partners GmbH (“VTC”) will acquire Vestas’ two machining units and four casting units, including approx 1,000 employees in Norway, Sweden, Germany, China and Denmark. The agreement is subject to customary closing conditions, including approvals from relevant authorities in China. VTC is the owner of the Silbitz Group a leading German-based casting group with an existing and proven supplier relationship with Vestas.

      Vestas’ main priority in the divestment of its machining and casting units is to increase the flexibility of Vestas’ supply chain and to secure a buyer that will ensure supply at the required quality and offer reduced and competitive prices for casted components going forward. Finally, the divestment confirms Vestas’ strategy to further concentrate on the core competences of its business.

      The divestment of our machining and casting units is part of the plan to improve our capacity utilisation and to become a more asset-light and scalable company,” says Jean-Marc Lechêne, Executive Vice President and COO of Vestas Wind Systems A/S, and continues: “In outsourcing our machining and casting units, it was important to take the time to find the right partner in order for both parties to benefit from the industrial synergies. VTC will continue to operate with the same high Vestas standards in relation to quality, reliability and safety and I am pleased to say that we consider VTC to be the right partner in all these aspects.

      This transaction offers compelling advantages for both parties involved and VTC plans to invest significantly in the strategic realignment of the group,” adds Dr Thomas Robl, Managing Director of VTC Partners GmbH. “Vestas will receive its components at the same high quality level it is used to, and at the same time it will benefit from VTC’s scale and efficiency in the casting business. Together with our subsidiary the Silbitz Group we are forming a leader in global castings, leveraging our large casting capacity and state-of-the-art machining facilities.

      The transaction has been agreed at a sales price of EUR 1 plus an earn-out element for Vestas of up to EUR 25m. The divestment price implies a further write down of approx EUR 50m consisting of approx EUR 20m in assets held for sale and approx EUR 30m in net current assets, which will be included in special items in the third quarter of 2013.

      It is expected that the divestment will lower Vestas’ costs for casted components by around EUR 30m over the next two years. Due to the additional utilisation that can be brought to the factories under VTC ownership, further cost benefits can be expected in the longer term. The flexible nature of the supply agreement that has been signed as part of the transaction further adds to Vestas’ cost structure becoming more scalable.

      Contact details

      Vestas Wind Systems A/S, Denmark
      Lars Villadsen, Senior Vice President, Investor Relations
      Tel.: +45 9730 0000

      VTC Partners GmbH, Germany
      Richard G. Ramsauer, Managing Director
      Tel.: +49 89 64949 0

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      15:10 - 27 Sep 2013

      Vestas receives 129 MW offshore order in the Netherlands

      Vestas has received a 129 MW firm and unconditional order for 43 V112-3.0 MW offshore turbines for the Netherlands.

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      Vestas has received a 129 MW firm and unconditional order for 43 V112-3.0 MW offshore turbines for the Netherlands.

      Additional information about the project:

      Customer: Eneco
      Project name: Eneco Luchterduinen offshore wind power plant
      Location/Country: The Netherlands
      Number of MW: 129 MW
      Number of turbines/turbine type 43 x V112-3.0 MW offshore turbines
      Contract type: Supply-and-installation
      Contract scope: The order includes supply, installation and commissioning of the wind turbines as well as a 15-year full-scope AOM 5000 service and maintenance agreement.
      Time of delivery Construction of the project will begin mid 2014 with commissioning scheduled for 2015.

      Total year-to-date announced order intake in MW: 3,485 MW.

      Contact details:

      Vestas Wind Systems A/S, Denmark
      Lars Villadsen, Senior Vice President, Investor Relations
      Tel.: +45 9730 0000

      Jens Velling, Press officer, Media Relations, Global MarCom & Corporate Relations
      Tel.: +45 2256 7437

      A news release from Vestas Offshore regarding the above-mentioned order will also be published on vestas.com under “News”.

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      07:55 - 27 Sep 2013

      Vestas and Mitsubishi Heavy Industries form a joint venture dedicated to offshore wind energy

      Vestas and Mitsubishi Heavy Industries form a joint venture dedicated to offshore wind energy.

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      Vestas and Mitsubishi Heavy Industries form a joint venture dedicated to offshore wind energy

      Vestas Wind Systems A/S (Vestas) and Mitsubishi Heavy Industries Ltd. (MHI) have agreed to form a joint venture (JV) dedicated to offshore wind energy (ref. company announcement No. 33/2012 of 27 August 2012).

      The JV will combine Vestas’ and MHI’s current capabilities within offshore wind turbines. Vestas will transfer the development of the V164-8.0 MW, the V112 offshore order book, existing offshore service contracts and approx 300 employees to the JV. MHI will inject EUR 100m in cash into the JV and will inject another EUR 200m based on certain milestone achievements reflecting the natural early product life cycle of the V164 turbine. As part of the JV it has been agreed between the parties that Vestas is contracted by the JV to finalise the planned development of the V164-8.0 MW on behalf of the JV. In addition, Vestas and MHI will provide various services to the JV. The JV will start its business with the current V112 offshore and the V164-8.0 MW turbines. At a later stage, the JV will explore the possibilities of integrating the MHI hydraulic DDT technology into the 8 MW platform which would make the JV positioned to offer a product line-up variety that best suits customer demands.

      Leveraging on the respective strengths of each organisation, the JV will be well-positioned to win an expanding share of the offshore wind turbine market and become a global leader in this attractive and high-growth market; with Vestas’ comprehensive technological capabilities and long-standing track record within the overall wind power market, and the offshore wind segment specifically, and MHI’s strong and long-standing presence in global power markets and related technologies, the JV will benefit from significant synergies.

      The head office of the JV will be located in Aarhus, Denmark, from where the company will handle all aspects from design, further development, procurement and manufacturing related to the V164-8.0 MW turbine as well as all marketing, sales and after-sales service related to offshore wind. Vestas will continue to manufacture and supply the V112 turbines which the JV will offer for offshore projects.

      Masafumi Wani will become Chairman of the Board of Directors (Executive Senior Vice President and Head of Power Systems of MHI), Anders Runevad Vice Chairman (Group President & CEO of Vestas) and Jens Tommerup CEO of the JV (currently President of Vestas Asia Pacific & China). Equity ownership ratios will be 50 per cent for each of MHI and Vestas with an option for MHI to change the ownership ratio to 51 per cent for MHI and 49 per cent for Vestas in April 2016.

      The transaction is subject to customary closing conditions including approval from relevant competition authorities in Europe and Asia and closing is expected to take place around the end of March 2014.

      From a financial perspective, the establishment of the JV will not have any impact on Vestas’ annual accounts for 2013 and is only expected to have a marginal impact on Vestas’ 2014 revenues and earnings due to the deconsolidation of the offshore wind division. An expected gain on the JV transaction of around EUR 40m will be booked as a special item at closing. Any capex related to the development of the V164-8.0 MW turbine after 1 September 2013 will be reimbursed to Vestas by the JV following closing.

      At the time of closing, Vestas expects the following balance sheet impacts:

      • a decrease in development projects in progress of approx EUR 270m as the V164 project is transferred to the JV,
      • an increase in investments in associates of approx EUR 200m as the JV will be treated as an associated company in Vestas’ accounts from the time of closing,
      • an increase in cash at bank and in hand of approx EUR 60m as Vestas will be reimbursed for capex conducted from 1 September 2013,
      • an increase of net working capital of approx EUR 50m as a result of the offshore service projects being transferred to the JV and
      • an increase in retained earnings of approx EUR 40m due to the expected gain on the JV transaction.

      The main markets for offshore wind turbines are the North Sea coastal countries, particularly the UK and Germany. In these and all other markets, today, measures are being taken to support the introduction of wind power generation equipment to supersede outdated coal-fired and nuclear plants, and solid growth in this area is expected to continue going forward. The establishment of the JV between MHI and Vestas is the two partners’ joint response to this market’s robust growth potential.

      Vestas and MHI will work closely with the new company and offer their total support to the development of its business operations.

      Goldman Sachs International, Nordea Investment Banking and SEB Corporate Finance acted as joint financial advisers to Vestas.

      Press and analyst meeting

      For analysts, investors and the media, an information meeting will be held today, Friday 27 September at 10.00 a.m. CEST/9.00 a.m. BST at the Bella Sky Comwell Hotel, Center Boulevard 5, Copenhagen S, Denmark. The information meeting may be attended electronically via vestas.com and a replay of the meeting will subsequently also be available from vestas.com.

      About Vestas

      Today, Vestas has delivered wind energy in 73 countries, providing jobs for around 17,000 passionate people at service and project sites, research facilities, factories and offices all over the world. With 62 per cent more megawatts installed than the closest competitor and more than 50,000 wind turbines equivalent to 57,000 MW of cumulative installed capacity worldwide, Vestas is the world leader in wind energy.

      About MHI

      MHI is one of the world’s leading manufacturers of machinery within power systems, nuclear energy and commercial aviation and aerospace. The company has approx 68,000 employees and consolidated sales of JPY 2,818bn in the fiscal year of 2012. Since delivering Japan’s very first wind turbine for commercial use in 1982, MHI has supplied a total of more than 4,200 units worldwide, having a combined output of almost 4,400 MW. Presently, MHI is undertaking development of a 7 MW wind turbine (known as the “Sea Angel”) adopting the world’s first digitally controlled hydraulic drivetrain. The company is also taking part in a floating wind power plant demonstration and research project being conducted offshore in the Fukushima Prefecture in Japan.

      Contact details

      Vestas Wind Systems A/S, Denmark
      Lars Villadsen, Senior Vice President, Investor Relations
      Tel.: +45 9730 7201

      Morten Albæk, Group Senior Vice President, Global MarCom & Corporate Relations
      Tel.: +45 2256 7437

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      07:55 - 26 Sep 2013

      Vestas receives 400 MW order in the USA

      Vestas has received a 400 MW firm and unconditional order in the USA consisting of 200 V110-2.0 MW turbines.

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      Vestas has received a 400 MW firm and unconditional order in the USA consisting of 200 V110-2.0 MW turbines

      Additional information about the order:

      Customer: Duke Energy Renewables, USA
      Project name: Los Vientos III and Los Vientos IV
      Location/Country: Texas, USA
      Number of MW: 400 MW
      Number of turbines/turbine type 200 V110-2.0 MW turbines
      Contract type: Supply-only
      Contract scope: The contract includes three-year full-scope service agreements (AOM 5000).
      Time of delivery Deliveries for Los Vientos III and IV are scheduled to begin in the first half of 2014 with commissioning expected in 2015 and 2016.

      Total year-to-date announced order intake in MW: 3,356 MW, (see vestas.com/investor).

      Contact details:

      Vestas Wind Systems A/S, Denmark
      Lars Villadsen, Senior Vice President, Investor Relations
      Tel.: +45 9730 0000

      Vestas Americas, USA
      Chris Brown, President, Vestas-American Wind Technology

      For more information, or to arrange an interview with Chris Brown, please contact:

      Andrew Longeteig, Head of External Communications, North America
      Global MarCom & Corporate Relations
      Tel: +1 503 327 7479

      A news release from Vestas-American Wind Technology regarding the above-mentioned order will also be published on vestas.com under “News”.

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      08:30 - 20 Sep 2013

      Vestas receives 60 MW order in the USA as part of turbine supply agreements with a potential of up to 610 MW

      Vestas receives 60 MW order in the USA as part of turbine supply agreements with a potential of up to 610 MW

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      Vestas receives 60 MW order in the USA as part of turbine supply agreements with a potential of up to 610 MW

      Vestas has received a firm and unconditional order in the USA for wind turbine equipment corresponding to 60 MW to secure PTC beyond 2013. This is part of turbine supply agreements with a potential of up to 610 MW. The order has been received from Renewable Energy Systems Americas Inc. (ref. company announcement No. 33/2013 of 2 August 2013).

      Additional information about the project:

      Customer: Renewable Energy Systems Americas Inc. (RES Americas)
      Project name: N/A
      Location/Country: USA
      Number of MW: Wind turbine equipment corresponding to 60 MW as part of turbine supply agreements with a potential of up to 610 MW.
      Number of turbines/turbine type Wind turbine equipment for V100-2.0 MW turbines
      Contract type: Supply-only
      Contract scope: The contract includes delivery of wind turbine equipment together with an Active Output Management (AOM) 4000 service agreement.
      Time of delivery Delivery of the wind turbine equipment and commissioning of the projects are expected to occur in 2014 and 2015.

      Total year-to-date announced order intake in MW: 2,936 MW, (see vestas.com/investor).

      Contact details:

      Vestas Wind Systems A/S, Denmark
      Lars Villadsen, Senior Vice President, Investor Relations
      Tel.: +45 9730 0000

      Vestas Americas, USA
      Chris Brown, President, Vestas-American Wind Technology
      For more information, or to arrange an interview with Chris Brown, please contact:

      Andrew Longeteig, Head of External Communications, North America
      Global MarCom & Corporate Relations
      Tel: +1 503 327 7479

      A news release from Vestas-American Wind Technology regarding the above-mentioned order will also be published on vestas.com under “News”.

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      09:35 - 13 Sep 2013

      Vestas receives 80 MW order together with master supply agreement for a potential of up to 750 MW in the USA

      Vestas receives 80 MW order together with master supply agreement for a potential of up to 750 MW in the USA.

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      Vestas receives 80 MW order together with master supply agreement for a potential of up to 750 MW in the USA

      Vestas has received a firm and unconditional order for 80 MW in the USA. The order has been received from EDF Renewable Energy together with a master supply agreement for a potential of up to 750 MW in the USA (ref. company announcement No. 29/2011 of 30 June 2011).

      Additional information about the project:

      Customer: EDF Renewable Energy
      Project name: At the customer’s request, details concerning the project are undisclosed
      Location/Country: USA
      Number of MW: 80 MW + a master supply agreement for a potential of up to 750 MW in the USA
      Number of turbines/turbine type V100-2.0 MW turbines
      Contract type: Supply-only
      Contract scope: The contract includes delivery of the wind turbines together with an Active Output Management (AOM) 5000 service agreement for up to six years.
      Time of delivery Delivery is expected to take place in 2014 and 2015.

      Total year-to-date announced order intake in MW: 2,876 MW, (see vestas.com/investor).

      Contact details:

      Vestas Wind Systems A/S, Denmark
      Lars Villadsen, Senior Vice President, Investor Relations
      Tel.: +45 9730 0000

      Vestas Americas, USA
      Chris Brown, President

      For more information, or to arrange an interview with Chris Brown, please contact:

      Andrew Longeteig, Head of External Communications, North America
      Global MarCom & Corporate Relations
      Tel: +1 503 327 7479

      A news release from Vestas Americas regarding the above-mentioned order will also be published on vestas.com under “News”.

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      08:35 - 21 Aug 2013

      Interim financial report, second quarter 2013

      Two-year turnaround continues according to plan. Free cash flow improved by EUR 535m and outlook upgraded to at least EUR 200m. Positive EBIT result despite 26 per cent lower revenue. Anders Runevad appointed as new Group President & CEO.

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      Interim financial report, second quarter 2013

      Summary

      Two-year turnaround continues according to plan. Free cash flow improved by EUR 535m and outlook upgraded to at least EUR 200m. Positive EBIT result despite 26 per cent lower revenue. Anders Runevad appointed as new Group President & CEO.

      In the second quarter of 2013, Vestas generated revenue of EUR 1,185m – a decrease of 26 per cent to the year-earlier period. EBIT before special items decreased by EUR 28m to EUR 12m. The EBIT margin before special items was 1.0 per cent and the free cash flow increased by EUR 535m to EUR 197m.

      The intake of firm and unconditional wind turbine orders was 1,641 MW in the second quarter of 2013. Due to uncertainty surrounding a few customers’ ability to comply with the contractual obligations, Vestas has resolved to lower the order backlog value by EUR 0.4bn. Including this adjustment, the value of the wind turbine backlog amounted to EUR 7.1bn at 30 June 2013. In addition to the wind turbine order backlog, Vestas had service agreements with contractual future revenue of EUR 5.9bn at the end of June 2013. Thus the value of the combined backlog of wind turbine orders and service agreements stood at EUR 13bn – an improvement of EUR 600m during the quarter.

      Vestas has decided not to sell the tower factory in Pueblo, USA. Consequently, the factory has been reclassified to property, plant and equipment. Vestas’ machining and casting units are still expected to be divested; however, based on ongoing negotiations with potential buyers, the units have been further written down.

      Today, Vestas has appointed Anders Runevad as new Group President & CEO of Vestas Wind Systems A/S as from 1 September 2013.

      Press and analyst information meeting

      For analysts, investors and the media, an information meeting will be held today, Wednesday, 21 August 2013 at 10 a.m. CEST (9 a.m. BST).

      The information meeting can only be attended electronically via vestas.com/investor, and questions may be asked through a conference call. The telephone numbers for the conference call are:

      Europe: +44 208 817 9301
      USA: +1 718 354 1226
      Denmark: +45 7026 5040

      A replay of the information meeting will subsequently be available from vestas.com/investor.

      Contact details

      Vestas Wind Systems A/S, Denmark
      Lars Villadsen, Senior Vice President, Investor Relations
      Tel.: +45 9730 0000

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      08:30 - 21 Aug 2013

      Vestas appoints Anders Runevad as Group President & CEO

      Vestas Wind Systems A/S appoints Anders Runevad as new Group President & Chief Executive Officer (CEO). He succeeds Ditlev Engel who will leave the company.

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      Vestas Wind Systems A/S appoints Anders Runevad as new Group President & Chief Executive Officer (CEO). He succeeds Ditlev Engel who will leave the company.

      Ditlev Engel has been with the company since 2005 and has during the past 1½ years focused his efforts on leading Vestas’ extensive restructuring programme.

      Following the recent measures taken, it is now the appropriate time to make this change. The company is now entering a new phase, where we want to realise our growth potential, and I am confident that Mr Runevad has the right experience to lead the company going forward. The restructuring programme has resulted in a more competitive company and we thank Mr Engel for his leadership over the past eight years,” says Chairman of the Board of Directors of Vestas Wind Systems A/S, Bert Nordberg.

      I am delighted to be joining Vestas and look forward to leading the company in its next phase of development. I believe that my career has equipped me with the right tools to take on this task,” says newly appointed Group President & CEO of Vestas Wind Systems A/S, Anders Runevad.

      Mr Runevad brings with him extensive experience from the telecom industry, having worked business-to-business, with complex infrastructure projects in an international environment. Additionally, Mr Runevad has in several senior positions led successful restructuring programmes in large organisations. He also has a proven track record of driving growth. Mr Runevad will assume the position on 1 September 2013. Until then, Ms Marika Fredriksson, currently Executive Vice President & CFO of Vestas Wind Systems A/S, will assume the position as acting Group President & CEO.

      Biography – Anders Runevad

      Mr Runevad is an internationally experienced senior executive with experience of leading global organisations. He has worked in the telecom sector during his entire career, mainly in business-to-business, and has successfully developed and executed on strategies both in growth and mature markets.

      Anders Runevad comes from Swedish Ericsson, where he was President of Region West & Central Europe, and a member of the Ericsson Global executive team. He joined Ericsson in 1985, and his positions include President, Ericsson Singapore (1996-2000), Vice President Sales and Marketing, Ericsson Business unit Networks (2000-2004), President, Ericsson Brazil (2004-2006) and Director of the board and Executive Vice President, Sony Ericsson (2006-2010). Mr Runevad holds a Master of Science in Electrical Engineering, Institute of technology, University of Lund.

      Contact details

      Vestas Wind Systems A/S, Denmark

      Lars Villadsen, Senior Vice President, Investor Relations
      Tel.: +45 9730 7201

      Morten Albæk, Group Senior Vice President, Global MarCom & Corporate Relations
      Tel.: +45 2256 7437

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      08:35 - 16 Aug 2013

      Vestas receives notification in connection with claim from 87 individual investors

      Vestas receives notification in connection with claim from 87 individual investors.

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      Vestas receives notification in connection with claim from 87 individual investors

      In company announcement No. 34/2013 of 6 August 2013, Vestas Wind Systems A/S (Vestas) disclosed that the company through a law firm acting on behalf of Deminor International SCRL (Deminor) had received a claim for damages. Deminor stated to represent more than 80 investors and estimated the claim to amount to approx DKK 300m (EUR 40m). The claim was directed against Vestas and ten former and present members of the Board of Directors and the Executive Management.

      The law firm in question has now filed a claim for an amount of DKK 80m (approx EUR 11m) on behalf of 87 individual claimants. Consequently, this is not a class action law suit, but 87 individual claims for damages grouped in one claim.

      At present, Vestas is not mentioned as co-defendant, but is suggested to protect its interests during the law suit. The claim is thus now directed against Bent Erik Carlsen, Ditlev Engel and Henrik Nørremark contrary to the claim nine days ago directed against ten individuals.

      The claim is based on the same arguments as those included in the existing class action lawsuit in the USA, ref. company announcement No. 8/2011 of 21 March 2011.

      Vestas has reviewed the claim with its advisors, and the company still believes that the claim is without merit.

      The matters mentioned in the claim were included in a proposal to carry out a scrutiny submitted at the Annual General Meeting in March this year. The proposal, submitted by Deminor, was not supported by the Annual General Meeting as only 1.5 per cent of the total share capital voted for Deminor’s proposal, ref. company announcement No. 9/2013 of 21 March 2013.

      Contact details

      Vestas Wind Systems A/S, Denmark
      Lars Villadsen, Senior Vice President, Investor Relations
      Tel.: +45 9730 0000

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      16:50 - 06 Aug 2013

      Vestas receives notice of potential lawsuit from Deminor

      Vestas receives notice of potential lawsuit from Deminor.

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      Vestas receives notice of potential lawsuit from Deminor

      Today, Vestas Wind Systems A/S (Vestas) has received a collection letter from a Danish law firm acting on behalf of Deminor International SCRL (Deminor).

      Deminor states to represent a group of more than 80 private and institutional investors including Commerzbank International Portfolio Management.

      The claim is estimated to amount to approx DKK 300m (EUR 40m) and is directed against Vestas and the following former and present members of the Board of Directors and the Executive Management: Bent Erik Carlsen, Jørgen Huno Rasmussen, Jørn Ankær Thomsen, Torsten Erik Rasmussen, Håkan Eriksson, Kurt Anker Nielsen, Freddy Frandsen, Ola Rollén, Ditlev Engel and Henrik Nørremark.

      The potential law suit is based on the same arguments as those included in the existing class action lawsuit in the USA, ref. company announcement No. 8/2011 of 21 March 2011.

      If the claim is not accepted within 10 days, Deminor is expected to initiate a lawsuit in Denmark.

      Vestas has reviewed the claim with its legal and other advisors, and the company believes that the claim is without merit and thus the claim will not be accepted.

      Finally, it should be stressed that Deminor’s proposal to carry out a scrutiny of the matters mentioned in the claim, was only supported by 1.5 per cent of the total capital at the Annual General Meeting on 21 March 2013, ref. company announcement No. 9/2013 of 21 March 2013.

      Contact details

      Vestas Wind Systems A/S, Denmark
      Lars Villadsen, Senior Vice President, Investor Relations
      Tel.: +45 9730 7201

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      14:25 - 02 Aug 2013

      Information in the market regarding projects in the USA

      Information in the market regarding projects in the USA.

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      Information in the market regarding projects in the USA

      Today, there is information in the market regarding Vestas being appointed preferred supplier for two projects in the USA.

      Vestas can confirm that negotiations are ongoing. If these negotiations will result in firm and unconditional orders, Vestas will make a company announcement immediately thereafter.

      Vestas discloses this announcement based on Vestas’ obligation as a Danish listed company, ref. the Securities Trading Act, section 27(2).

      Contact details

      Vestas Wind Systems A/S, Denmark
      Lars Villadsen, Senior Vice President, Investor Relations
      Tel.: +45 9730 0000

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      13:25 - 01 Aug 2013

      Vestas receives 105 MW order in South Africa

      Vestas has received a firm and unconditional order for 35 V112-3.0 MW turbines for three wind power plants in South Africa.

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      Vestas has received a firm and unconditional order for 35 V112-3.0 MW turbines for three wind power plants in South Africa.

      Additional information about the project:

      Customer: Innowind (80 per cent owned by EDF EN)
      Project name: Chaba, Waainek and Grassridge
      Location/Country: Eastern Cape, South Africa
      Number of MW: 105 MW
      Number of turbines/turbine type 35 V112-3.0 MW turbines
      Contract type: Turnkey/EPC
      Contract scope: The contract comprises supply, installation and commissioning of 35 V112-3.0 MW wind turbines, along with a VestasOnline® Business SCADA solution, full scope civil and electrical works as well as a 10-year full-scope service agreement (AOM 4000).
      Time of delivery Delivery of the turbines for the three wind power plants is planned to start mid-2014 and commissioning is expected to start in the third quarter of 2014.

      Total year-to-date announced order intake in MW: 2,137 MW, (see vestas.com/investor).

      Contact details:

      Vestas Wind Systems A/S, Denmark
      Lars Villadsen, Senior Vice President, Investor Relations
      Tel.: +45 9730 0000

      Vestas Central Europe, Germany
      Thomas Richterich, President

      For more information, or to arrange an interview with Thomas Richterich, please contact:

      Christina Buttler, Communications Partner
      Tel: +49 40 46778 5153

      A news release from Vestas Central Europe regarding the above-mentioned order will also be published on vestas.com under “News”.

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      09:15 - 03 Jul 2013

      Vestas receives 93 MW order in South Africa

      Vestas has received a firm and unconditional order for 31 V112-3.0 MW wind turbines for South Africa.

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      Vestas has received a firm and unconditional order for 31 V112-3.0 MW wind turbines for South Africa

      Additional information about the project:

      Customer: Cennergi, a joint venture between Exxaro and Tata Energy
      Project name: Tsitsikamma community wind farm
      Location/Country: Port Elizabeth, Eastern Cape, South Africa
      Number of MW: 93 MW
      Number of turbines/turbine type 31 x V112-3.0 MW wind turbines
      Contract type: Turnkey/EPC
      Contract scope: The contract includes supply, installation and commissioning of the turbines, a VestasOnline® Business SCADA solution, full scope civil and electrical works as well as a 15-year full-scope service agreement (AOM 5000).
      Time of delivery Delivery of the wind turbines is planned to start in the second quarter of 2015 and the wind power plant is expected to be commissioned by the first quarter of 2016.

      Total year-to-date announced order intake in MW: 2,032 MW, (see vestas.com/investor).

      Contact details:

      Vestas Wind Systems A/S, Denmark
      Lars Villadsen, Senior Vice President, Investor Relations
      Tel.: +45 9730 0000

      Vestas Central Europe, Germany
      Thomas Richterich, President

      For more information, or to arrange an interview with Thomas Richterich, please contact:

      Christina Buttler, Communications Partner
      Tel: +49 40 46778 5153

      A news release from Vestas Central Europe regarding the above-mentioned order will also be published on vestas.com under “News”.

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      14:30 - 28 Jun 2013

      Vestas receives 107 MW order in Australia

      Vestas has received a firm and unconditional order for 107 MW in Australia.

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      Vestas has received a firm and unconditional order for 107 MW in Australia

      Additional informationt about the project:

      Customer: Taralga Wind Farm Nominees No.1 Pty Ltd
      Project name: Taralga Wind Farm
      Location/Country: New South Wales, Australia
      Number of MW: 106.8 MW
      Number of turbines/turbine type A combination of V90-2.0 MW, V100-1.8 MW and V90-3.0 MW turbines.
      Contract type: Turnkey/EPC
      Contract scope: The order consists of engineering, procurement and construction of the wind power plant plus a five-year full-scope service agreement (AOM 4000).
      Time of delivery The wind turbines will be manufactured and shipped through the second half of 2013 and the first quarter of 2014, and the wind power plant is expected to be fully operational by the end of 2014.

      Total year-to-date announced order intake in MW: 1,939 MW, (see vestas.com/investor).

      Contact details:

      Vestas Wind Systems A/S, Denmark
      Lars Villadsen, Senior Vice President, Investor Relations
      Tel.: +45 9730 0000

      Vestas Asia Pacific & China, China
      Jens Tommerup, President

      For more information, or to arrange an interview with Jens Tommerup of Vestas Asia Pacific & China, please contact:

      William Lim, Communications Partner, Vestas Asia Pacific & China
      Tel: +86 10 5923 2022

      A news release from Vestas Asia Pacific & China regarding the above-mentioned order will also be published on vestas.com under “News”.

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      09:35 - 28 Jun 2013

      Vestas receives 87 MW order in the Philippines

      Vestas has received a firm and unconditional order for 29 V90-3.0 MW turbines for the Philippines.

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      Vestas has received a firm and unconditional order for 29 V90-3.0 MW turbines for the Philippines

      Additional information about the project:

      Customer: Energy Development Corporation (EDC)
      Project name: Burgos
      Location/Country: Burgos, Ilocos Norte province, Philippines
      Number of MW: 87 MW
      Number of turbines/turbine type 29 x V90-3.0 MW turbines
      Contract type: Turnkey/EPC
      Contract scope: The contract includes delivery, installation and commissioning of the wind turbines, associated civil and electrical works as well as a 10-year AOM5000 service contract.
      Time of delivery Delivery of the wind turbines will begin in the fourth quarter of 2013 and commissioning of the wind power plant is expected to take place during the second half of 2014.

      Total year-to-date announced order intake in MW: 1,832 MW, (see vestas.com/investor).

      Contact details:

      Vestas Wind Systems A/S, Denmark
      Lars Villadsen, Senior Vice President, Investor Relations
      Tel.: +45 9730 0000

      Vestas Asia Pacific & China, China
      Jens Tommerup, President

      For more information, or to arrange an interview with Jens Tommerup, please contact:

      William Lim, Communications Partner, Vestas Asia Pacific & China
      Tel: +8610 5923 2022

      A news release from Vestas Asia Pacific & China regarding the above-mentioned order will also be published on vestas.com under “News”.

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      11:10 - 27 Jun 2013

      Vestas receives 99 MW order in Sweden

      Vestas has received a firm and unconditional order for 99 MW consisting of 33 V112-3.0 MW turbines for Sweden.

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      Vestas has received a firm and unconditional order for 99 MW consisting of 33 V112-3.0 MW turbines for Sweden

      Additional information about the project:

      Customer: Rabbalshede Kraft AB
      Project name: Årjäng and Skaveröd
      Location/Country: Årjäng in Värmland and Skaveröd in Uddevalla, Sweden
      Number of MW: 99 MW
      Number of turbines/turbine type 33 V112-3.0 MW turbines
      Contract type: Supply-and-installation
      Contract scope: The contract includes delivery, installation, and commissioning of the wind turbines as well as an eight-year Active Management Output (AOM) 5000 service agreement.
      Time of delivery Turbine installation is scheduled to begin in the second quarter of 2014.

      Total year-to-date announced order intake in MW: 1,745 MW, (see vestas.com/investor).

      Contact details:

      Vestas Wind Systems A/S, Denmark
      Lars Villadsen, Senior Vice President, Investor Relations
      Tel.: +45 9730 0000

      Vestas Northern Europe, Sweden
      Klaus Steen Mortensen, President

      For more information, or to arrange an interview with Klaus Steen Mortensen, please contact:

      Michael Zarin, Head of External Relations, Global MarCom & Corporate Relations
      Tel.: +45 4084 1526

      A news release from Vestas Northern Europe regarding the above-mentioned order will also be published on vestas.com under “News”.

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      17:50 - 23 Jun 2013

      Information in the market regarding order in the Philippines

      Information in the market regarding order in the Philippines

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      Information in the market regarding order in the Philippines

      Today, there is information in the market regarding an 87 MW project in the Philippines.

      As soon as the project translates into a firm and unconditional order in accordance with Vestas’ definition, Vestas will disclose a company announcement about this.

      Vestas discloses this announcement based on Vestas’ obligation as a Danish listed company, ref. the Securities Trading Act, section 27(2).

      Contact details

      Vestas Wind Systems A/S, Denmark
      Lars Villadsen, Senior Vice President, Investor Relations
      Tel.: +45 9730 0000

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      07:50 - 21 Jun 2013

      Vestas sells two wind power plants in Romania and Bulgaria

      Vestas has entered into an agreement to sell the Romanian project Gebeleisis and the Bulgarian project Hrabrovo for a total enterprise value of EUR 127m.

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      Vestas has entered into an agreement to sell the Romanian project Gebeleisis and the Bulgarian project Hrabrovo for a total enterprise value of EUR 127m

      Vestas has entered into an agreement to sell the Romanian project Gebeleisis and the Bulgarian project Hrabrovo to LUKERG Renew for a total enterprise value of EUR 127m. The wind power plants have been co-developed by Vestas, among other things to increase Vestas’ share of green electricity. Closing of the transactions is expected to take place within the next eight weeks – however, the Hrabrovo transaction is subject to approval by the Bulgarian competition authority.

      The projects are expected to be recognised as revenue and earnings in the second and third quarters of 2013. The free cash flow is expected to be positively impacted by EUR 127m in the second and third quarters of 2013.

      Vestas has decided to sell the two projects as development and ownership of projects is not part of Vestas’ regular business model.

      The above will have no effect on the future operations of Vestas.

      About Gebeleisis

      The Gebeleisis wind power plant is located in the Galati region in Romania, and has been fully operational since February 2013. The wind power plant has a total capacity of 70 MW (35 V90-2.0 MW turbines) and its average annual production is expected to exceed 165 GWh. The value of the project amounts to EUR 109.2m.

      About Hrabrovo

      The Hrabrovo wind power plant is located in the region of Dobrich in Bulgaria, and has been fully operational since March 2012. The wind power plant has a total capacity of 14 MW (seven V90-2.0 MW turbines), and its average annual production is expected to exceed 34 GWh. The value of the project amounts to EUR 17.6m.

      Contact details

      Vestas Wind Systems A/S, Denmark
      Lars Villadsen, Senior Vice President, Investor Relations
      Tel.: +45 9730 7201

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      10:35 - 11 Jun 2013

      Vestas receives 94 MW order in South Africa

      Vestas has received a firm and unconditional order for 47 V90-2.0 MW wind turbines for South Africa.

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      Vestas has received a firm and unconditional order for 47 V90-2.0 MW wind turbines for South Africa

      Additional information about the project:

      Customer: Aurora Wind Power, a joint venture between GDF SUEZ, Investec and Kagiso Investment
      Project name: West Coast One
      Location/Country: Western Cape, South Africa
      Number of MW: 94 MW
      Number of turbines/turbine type 47 x V90-2.0 MW wind turbines
      Contract type: Turnkey
      Contract scope: The contract includes supply, installation and commissioning of the turbines, a VestasOnline® Business SCADA solution, full scope civil and electrical works as well as a 15-year full-scope service agreement (AOM 5000).
      Time of delivery Delivery of the wind turbines is planned to start in the third quarter of 2014 and the wind power plant is expected to be commissioned by May 2015.

      Total year-to-date announced order intake in MW: 1,553 MW, (see vestas.com/investor).

      Contact details:

      Vestas Wind Systems A/S, Denmark
      Lars Villadsen, Senior Vice President, Investor Relations
      Tel.: +45 9730 0000
      Vestas Central Europe, Germany
      Thomas Richterich, President

      For more information, or to arrange an interview with Thomas Richterich, please contact:

      Christina Buttler, Communications Partner
      Tel: +49 40 46778 5153

      A news release from Vestas Central Europe regarding the above-mentioned order will also be published on vestas.com under “News”.

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      09:30 - 30 May 2013

      Vestas receives 90 MW order in Uruguay

      Vestas has received a firm and unconditional order for 30 V112-3.0 MW turbines for Uruguay.

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      Vestas has received a firm and unconditional order for 30 V112-3.0 MW turbines for Uruguay

      Additional information about the project:

      Customer: Compañia Forestal Uruguaya S.A. (COFUSA), Uruguay
      Project name: Pintado Wind Power Plant
      Location/Country: Uruguay
      Number of MW: 90 MW
      Number of turbines/turbine type 30 x V112-3.0 MW turbines
      Contract type: Turnkey
      Contract scope: The contract includes supply, installation and commissioning of the wind turbines, civil and electrical works, a VestasOnline® Business SCADA solution as well as a 15-year full-scope service agreement (AOM 5000).
      Time of delivery Delivery of the wind turbines will begin in the third quarter of 2013 and the wind power plant is expected commissioned by the second quarter of 2014.

      Total year-to-date announced order intake in MW: 1,459 MW, (see vestas.com/investor).

      Contact details:

      Vestas Wind Systems A/S, Denmark
      Lars Villadsen, Senior Vice President, Investor Relations
      Tel.: +45 9730 0000

      Juan Araluce, Executive Vice President and CSO

      For more information or to arrange an interview with Juan Araluce, please contact:

      Velia Senatore, Communications Partner, Vestas Mediterranean,
      Tel: +39 099 460 6415

      A news release from Vestas Mediterranean regarding the above-mentioned order will also be published on vestas.com under “News”.

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      08:15 - 28 May 2013

      Information in the market regarding order in Jordan

      Information in the market regarding order in Jordan.

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      Information in the market regarding order in Jordan

      Today, there is information in the market regarding a 117 MW project in Jordan.

      As soon as the project translates into a firm and unconditional order in accordance with Vestas’ definition, Vestas will disclose a company announcement about this.

      Vestas discloses this announcement based on Vestas’ obligation as a Danish listed company, ref. the Securities Trading Act, section 27(2).

      Contact details

      Vestas Wind Systems A/S, Denmark
      Lars Villadsen, Senior Vice President, Investor Relations
      Tel.: +45 9730 0000

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      11:30 - 24 May 2013

      Case concerning former CFO handed over to the Fraud Squad

      Vestas has handed over case concerning former CFO to the Fraud Squad.

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      Vestas has handed over case concerning former CFO to the Fraud Squad

      In December last year, Vestas’ Board of Directors took steps to involve the State Prosecutor for Serious Economic and International Crime (the Fraud Squad) in the case regarding the former Chief Financial Officer’s (CFO), Henrik Nørremark’s financial transactions in relation to an Indian cooperation partner, ref. company announcement No. 36/2012 of 2 October 2012. This took place at the recommendation of the company’s external lawyers as they together with Vestas’ auditors had had to complete a number of comprehensive joint investigations of the case, without being able to conclude what the money had been spent on. Since then, the Fraud Squad has carried out its preliminary investigations and has, as part of these, interviewed members of the Board of Directors, the Group President & CEO, several executives as well as a number of Vestas employees. At the same time, the Board of Directors has informed the former CFO that he will be held responsible for the losses which the company may suffer due to his transactions.

      Overall, the case involves two matters:

      Firstly, the dismissed former CFO has on his own entered into extensive agreements which have resulted in Vestas making provisions for EUR 18.9m in 2012 to cover possible losses in this connection.

      The amount of EUR 18.9m concerns two actions:

      1. two debt agreements of a total of EUR 4.4m, from which the Indian cooperation partner was released by the CFO without Vestas’ management, the state-authorised public accountants or the company’s external lawyers subsequently being able to find any business-related explanation to this and
      2. an investment of EUR 14.5m in a potential project in India.
        The management of the company in the Indian Group, to which the money was transferred (and which is group-related with the company that was released from the above-mentioned debt by the former CFO), has till now not been able, or willing to explain to Vestas which assets Vestas was supposed to have received in return for the transferred amount.

      Secondly, by entering into these agreements the former CFO exceeded his powers as Group Executive significantly as he was not authorised to bind Vestas the way he did in these specific situations.

      The investigations made by the external auditors and lawyers have proven that neither the Board of Directors nor the Group President & CEO have been involved in or have had any knowledge of the mentioned transactions.

      Regarding the case, the chairman of the Board of Directors, Bert Nordberg, says:

      The Vestas Board wants to have all aspects of this case investigated and the missing money returned. We therefore first asked the company’s external lawyers and auditors to carry out a number of extensive investigations. These proved that neither the Board nor the Group President & CEO have been involved in or have had any knowledge of the mentioned transactions.

      However, the investigations were completed without the lawyers or the auditors being able to find any further clarification of what the money was spent on. On this background, the Board requested the Fraud Squad to initiate an investigation and at the same time, we informed the former CFO that the Board intends to hold him responsible for the losses which the company may suffer due to his transactions.

      The reason why we have not previously mentioned this development is merely out of consideration for the investigation,” says Bert Nordberg.

      Contact details

      Vestas Wind Systems A/S

      Morten Albæk
      Group Senior Vice President, Global MarCom & Corporate Relations
      Tel.: +45 4167 6569

      or

      Lars Villadsen
      Senior Vice President, Investor Relations
      Tel.: +45 9730 7201

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      13:15 - 23 May 2013

      Vestas receives 155 MW order in Mexico

      Vestas has received a firm and unconditional order for 47 V112-3.3 MW turbines for Mexico.

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      Vestas has received a firm and unconditional order for 47 V112-3.3 MW turbines for Mexico

      Additional information about the project:

      Customer: IEnova
      Project name: Energia Sierra Juarez
      Location/Country: Mexico
      Number of MW: 155.1 MW
      Number of turbines/turbine type 47 x V112-3.3 MW
      Contract type: Supply-only
      Contract scope: The contract includes supply and commissioning of the wind turbines, a VestasOnline® Business SCADA solution as well as a five-year AOM 5000 service agreement.
      Time of delivery Delivery of the wind turbines will begin in the third quarter of 2014 and the wind power plant is expected to be commissioned by the first quarter of 2015.

      Total year-to-date announced order intake in MW: 1,369 MW, (see vestas.com/investor).

      Contact details:

      Vestas Wind Systems A/S, Denmark
      Lars Villadsen, Senior Vice President, Investor Relations
      Tel.: +45 9730 0000

      Juan Araluce, Executive Vice President and CSO

      For more information or to arrange an interview with Juan Araluce, please contact:

      Velia Senatore, Communications Partner, Vestas Mediterranean,
      Tel: +39 099 460 6415

      A news release from Vestas Mediterranean regarding the above-mentioned order will also be published on vestas.com under “News”.

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      09:40 - 22 May 2013

      Information in the market regarding order in Mexico

      Information in the market regarding order in Mexico.

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      Information in the market regarding order in Mexico

      Today, there is information in the market regarding a 155 MW project in Mexico.

      As soon as the project translates into a firm and unconditional order in accordance with Vestas’ definition, Vestas will disclose a company announcement about this.

      Vestas discloses this announcement based on Vestas’ obligation as a Danish listed company, ref. the Securities Trading Act, section 27(2).

      Contact details

      Vestas Wind Systems A/S, Denmark
      Lars Villadsen, Senior Vice President, Investor Relations
      Tel.: +45 9730 0000

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      18:20 - 15 May 2013

      Information in the market regarding delay of Vestas contract in Mexico

      Information in the market regarding delay of Vestas contract in Mexico.

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      Information in the market regarding delay of Vestas contract in Mexico

      Today, there is information in the market that the installation of the 396 MW Mareña Renovables project in Mexico (ref. company announcement No. 14/2012 of 12 March 2012) has been delayed.

      Vestas can confirm that access to the project sites has continued to be impacted by minority opposition groups, which has caused significant delays in the construction of the project.

      Based on the delay, Mareña Renovables has today entered into a forbearance agreement with the project lenders until 30 July 2013, which they expect to be extended subject to certain milestones being achieved; and with Vestas until 30 November 2013.

      Vestas discloses this announcement based on Vestas’ obligation as a Danish listed company, ref. the Securities Trading Act, section 27(2).

      Contact details

      Vestas Wind Systems A/S, Denmark
      Lars Villadsen, Senior Vice President, Investor Relations
      Tel.: +45 9730 0000

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      08:30 - 08 May 2013

      Interim financial report, first quarter 2013

      Full-year guidance maintained. Turnaround continues according to plan. EBIT and free cash flow significantly improved.

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      Full-year guidance maintained. Turnaround continues according to plan. EBIT and free cash flow significantly improved.

      Summary

      Full-year guidance maintained. Turnaround continues according to plan. EBIT and free cash flow significantly improved.

      Vestas maintains its full-year guidance and the focus on cost reductions, low investments and increased capacity utilisation continues. In the first quarter of 2013, Vestas generated revenue of EUR 1,096m – a decrease of 1 per cent to the year-earlier period. EBIT before special items increased by EUR 96m to EUR (108)m. The EBIT margin before special items was (9.9) per cent – an improvement of 8.6 percentage points compared to the first quarter of 2012. The free cash flow increased by EUR 235m to EUR (60)m.

      The intake of firm and unconditional wind turbine orders was 644 MW in the first quarter of 2013 and the value of the wind turbine backlog amounted to EUR 7.0bn at 31 March 2013. In addition to the wind turbine order backlog, Vestas had service agreements with contractual future revenue of EUR 5.4bn at the end of March 2013, and thus the value of the combined backlog of wind turbine orders and service agreements stood at EUR 12.4bn which equals the level at the end of 2012.

      Over the last 12 months, warranty consumption as a percentage of revenue was less than 1.5 per cent. The very low level is a result of the continued quality focus and the improved performance of the wind turbines.

      The safety level at Vestas’ workplaces improved substantially as the Industrial injuries per one million working hours declined by 36 per cent to 1.8 compared to the first quarter of 2012. The share of renewable energy increased by 14 percentage points to 58 per cent.

      It is satisfying to see that the Vestas turnaround continues according to plan and that results are becoming increasingly visible. Compared to the first quarter of 2012, we have improved earnings and free cash flow substantially,” says Ditlev Engel, Group President & CEO and continues: “Furthermore, the fact that we have been able to accelerate the prototype installation of the V164 turbine and release new variants of our 2 and 3 MW platforms while at the same time, keeping investments low stands as evidence of our efforts paying off.

      Finally, I would like to emphasise the importance of our increased focus on improving the management of our working capital. For the first time in five years, we were able to free up liquidity by reducing the net working capital during the first quarter. This development was the major contributor to our substantial free cash flow improvement,” Ditlev Engel concludes.

      Press and analyst meeting

      For analysts, investors and the media, an information meeting will be held today,

      Wednesday, 8 May 2013 at 10 a.m. CEST (9 a.m. BST) at Vestas’ Headquarters
      Hedeager 44, 8200 Aarhus N, Denmark.

      The information meeting will be held in English (with simultaneous interpretation into Danish) and webcast live via vestas.com/investor.

      The meeting may be attended electronically, and questions may be asked through a conference call.

      The telephone numbers for the conference call are:

      Europe: +44 208 817 9301
      USA: +1 718 354 1226
      Denmark: +45 7026 5040

      A replay of the information meeting will subsequently be available on vestas.com/investor.

      Contact details

      Vestas Wind Systems A/S, Denmark
      Lars Villadsen, Senior Vice President, Investor Relations
      Tel.: +45 9730 0000

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      16:40 - 24 Apr 2013

      Vestas receives 110 MW order in Chile

      Vestas has received a firm and unconditional order for 57 V100 turbines for Chile.

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      Vestas has received a firm and unconditional order for 57 V100 turbines for Chile

      Additonal information about the project:

      Customer: Empresas Públicas de Medellín E.S.P., Colombia
      Project name: Los Cururos
      Location/Country: Chile
      Number of MW: 109.6 MW
      Number of turbines/turbine type 22 x V100-1.8 MW and 35 x V100-2.0 MW
      Contract type: Turnkey
      Contract scope: The contract includes supply, installation and commissioning of the wind turbines, civil and electrical works, a VestasOnline® Business SCADA solution as well as a 10-year AOM 4000 service agreement.
      Time of delivery Delivery of the wind turbines will begin in the third quarter of 2013 and the wind power plant is expected commissioned by the third quarter of 2014.

      Total year-to-date announced order intake in MW: 814 MW, (see vestas.com/investor).

      Contact details:

      Vestas Wind Systems A/S, Denmark
      Lars Villadsen, Senior Vice President, Investor Relations
      Tel.: +45 9730 0000

      Juan Araluce, Executive Vice President and CSO

      For more information or to arrange an interview with Juan Araluce, please contact:

      Velia Senatore, Communications Partner, Vestas Mediterranean,
      Tel: +39 099 460 6415

      A news release from Vestas Mediterranean regarding the above-mentioned order will also be published on vestas.com under “News”.

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      08:50 - 23 Apr 2013

      Vestas receives a 10-year service contract renewal for 120 MW

      Vestas has received a service contract renewal for the wind power plant Prinses Amaliawindpark in the Netherlands for a total capacity of 120 MW.

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      Vestas has received a service contract renewal for the wind power plant Prinses Amaliawindpark in the Netherlands for a total capacity of 120 MW

      Additional information:

      Customer: Eneco, the Netherlands
      Project name: Prinses Amaliawindpark
      Location/Country: The Netherlands
      Number of MW/turbines: 120 MW / 60 x V80-2.0 MW turbines
      Duration of service contracts: 10 years
      Contract scope: The service contract includes Vestas’ Active Output Management (AOM) 5000 service option (year 6-16) with a 95 per cent energy-based availability guarantee.

      Contact details:

      Vestas Wind Systems A/S, Denmark
      Lars Villadsen, Senior Vice President, Investor Relations
      Tel.: +45 9730 0000

      A news release from Vestas Offshore regarding the above-mentioned order will also be published on vestas.com under “News”.

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      08:35 - 15 Apr 2013

      Vestas appoints new Chief Financial Officer

      Vestas Wind Systems A/S appoints Marika Fredriksson as new Chief Financial Officer (CFO) and member of the Executive Management. She succeeds Dag Gunnar Andresen who unfortunately has decided to leave the company by the end of this month due to personal reasons.

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      Vestas Wind Systems A/S appoints Marika Fredriksson as new Chief Financial Officer (CFO) and member of the Executive Management. She succeeds Dag Gunnar Andresen who unfortunately has decided to leave the company by the end of this month due to personal reasons

      Vestas Wind Systems A/S appoints Marika Fredriksson as new Chief Financial Officer (CFO) and member of the Executive Management. Marika Fredriksson, a Swedish national, will take up the position as CFO of Vestas on 1 May this year. She succeeds Dag Gunnar Andresen who unfortunately has decided to leave the company by the end of this month due to personal reasons.

      Marika Fredriksson has extensive experience in the role as CFO with 15 years in various industries and companies such as Gambro (2009-2012), Autoliv (2008-2009) and Volvo Construction Equipment (1996-2008). Over the years, Marika Fredriksson has also successfully participated in turnaround processes, change management and M&A. Marika Fredriksson has gained international experience by managing change programs in various parts of the world as well as key acquisitions in Korea, the USA and China. She holds a Masters’ degree from the Swedish School of Economics in Helsinki where she lived during three years.

      I would like to thank Dag Andresen for his important contribution to Vestas. At the same time, I am very pleased that we have managed to find an excellent new CFO in Marika Fredriksson, who will be joining Vestas on 1 May 2013. I am certain that she has the right competences, commitment and cultural fit into our Executive Management team,” says Group President & CEO, Ditlev Engel.

      In Marika Fredriksson we have found a new CFO with the calibre and capabilities addressing Vestas’ needs. I would like to thank Dag Andresen for his contribution to the company during the past year,” says Chairman of the board of Vestas Wind Systems A/S, Bert Nordberg.

      With the appointment of the new CFO, the Executive Management team at Vestas Wind Systems A/S consists of Ditlev Engel (Group President & CEO), Anders Vedel (Chief Turbines Officer), Juan Araluce (Chief Sales Officer), Jean-Mark Lechêne (Chief Operating Officer) and Marika Fredriksson (Chief Financial Officer).

      Contact details

      Vestas Wind Systems A/S, Denmark Lars Villadsen,
      Senior Vice President, Investor Relations
      Tel.: +45 9730 7201

      or

      Morten Albæk, Group Senior Vice President,
      Global MarCom & Corporate Relations
      Tel.: +45 4098 3174

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      16:25 - 08 Apr 2013

      Major shareholder announcement – Marathon Asset Management LLP

      Major shareholder announcement – Marathon Asset Management LLP.

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      Major shareholder announcement – Marathon Asset Management LLP

      Vestas has been informed that Marathon Asset Management LLP, UK, has increased their holding of Vestas shares to 10,623,330 shares (5.22 per cent).

      Contact details

      Vestas Wind Systems A/S, Denmark
      Lars Villadsen, Senior Vice President, Investor Relations
      Telephone +45 9730 0000

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      08:30 - 08 Apr 2013

      Vestas receives 299 MW order in Canada

      Vestas receives 299 MW order in Canada.

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      Vestas receives 299 MW order in Canada

      Additional information about the project:

      Customer: A joint venture of EDF Renewable Energy and Enbridge, in Alberta, Canada
      Project name: Blackspring Ridge Wind Project
      Location/Country: Canada
      Number of MW: 299 MW
      Number of turbines/turbine type 166 V100-1.8 MW turbines
      Contract type: Supply-only
      Contract scope: Supply and commissioning of the wind turbines, a VestasOnline® Business SCADA system as well as a 20-year service and maintenance agreement (AOM 5000).
      Time of delivery Deliveries are scheduled for the second half of 2013 with commissioning expected to take place mid-2014.

      Total year-to-date announced order intake in MW: 570 MW, (see vestas.com/investor).

      Contact details:

      Vestas Wind Systems A/S, Denmark
      Lars Villadsen, Senior Vice President, Investor Relations
      Tel.: +45 9730 0000

      Vestas-Canadian Wind Technology, Inc.
      Chris Brown, President

      Andrew Longeteig, Communications, North America
      Tel.: +1 503 327 7479

      A news release from Vestas-Canadian Wind Technology regarding the above-mentioned order will also be published on vestas.com under “News”.

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      11:50 - 05 Apr 2013

      Information in the market regarding order in Uruguay

      Information in the market regarding order in Uruguay.

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      Information in the market regarding order in Uruguay

      Today, there is information in the market regarding Vestas being close to signing an order in Uruguay.

      Vestas can confirm that negotiations regarding a project in Uruguay are ongoing. If these negotiations will result in a firm and unconditional order, Vestas will make a company announcement immediately thereafter.

      Vestas discloses this announcement based on Vestas’ obligation as a Danish listed company, ref. the Securities Trading Act, section 27(2).

      Contact details

      Vestas Wind Systems A/S, Denmark
      Lars Villadsen, Senior Vice President, Investor Relations
      Tel.: +45 9730 0000

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      16:20 - 29 Mar 2013

      Vestas receives 105 MW order in Ukraine

      Vestas has received a firm and unconditional order for 35 V112-3.0 MW turbines for Ukraine.

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      Vestas has received a firm and unconditional order for 35 V112-3.0 MW turbines for Ukraine

      Additional information about the project:

      Customer: The DTEK Group, Ukraine
      Project name: Botievo II
      Location/Country: Ukraine
      Number of MW: 105 MW
      Number of turbines/turbine type 35 x V112-3.0 MW turbines
      Contract type: Supply-and-installation
      Contract scope: The contract includes supply, installation and commissioning of 35 V112-3.0 MW turbines, together with a VestasOnline® Business SCADA system and an AOM 4000 service agreement.
      Time of delivery The turbines are planned to be delivered at the end of 2013 and are scheduled to be commissioned in the summer of 2014.

      Total year-to-date announced order intake in MW: 271 MW, (see vestas.com/investor).

      Contact details:

      Vestas Wind Systems A/S, Denmark
      Lars Villadsen, Senior Vice President, Investor Relations
      Tel.: +45 9730 0000

      Vestas Central Europe, Germany
      Thomas Richterich, President

      For more information or to arrange an interview with Thomas Richterich, please contact:

      Christina Buttler, Communications Partner
      Tel: +49 40 46778 5153

      Download pdf

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      13:40 - 22 Mar 2013

      Share based incentive programme 2013

      Share based incentive programme 2013.

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      Share based incentive programme 2013

      At the annual general meeting held on 21 March 2013, the revised remuneration policy and general guidelines for incentive pay for the Board of Directors and the Executive Management of Vestas Wind Systems A/S were adopted. The new share based incentive programme will be based on restricted performance shares instead of share options which were used in previous programmes.

      The Board of Directors has set out the terms and conditions governing the restricted performance share programme for the year 2013 for all participants including the Executive Management.

      The programme includes the Executive Management, Group Senior Vice Presidents, Senior Vice Presidents, Vice Presidents, Chief Specialists and Chief Project Managers in all business units in the Vestas Group of companies as well as Vestas Wind Systems A/S. The programme for 2013 includes 230 participants.

      The number of shares to be granted to each participant for 2013 is based on a target level for each corporate level. The grant will take place in 2016 and 2018. As a prerequisite for any grant of restricted performance shares, the minimum requirements set forth in Vestas’ global bonus programme for 2013 must be reached by Vestas for the performance year 2013.

      The actual number of restricted performance shares available for distribution may range between 50 per cent and 150 per cent of the target level and is determined by Vestas’ performance in the financial year 2013 as defined in Vestas’ global bonus programme. For 2013, the minimum requirements for grant are an EBIT margin before special items of 3.7 per cent and a free cash flow of EUR 220m. If these minimum requirements are met, a total of 225,000 shares will be granted from the programme.

      Beside the KPI’s for Vestas’ performance on EBIT and free cash flow, specific KPIs are defined for each business area: Sales, Manufacturing & Global Sourcing and Technology & Service Solutions. If all KPI’s are reached on target level, a total of 450,000 shares will be granted from the programme with the total present value calculated based on the current share value amounting to DKK 21m (value at close of Nasdaq OMX Copenhagen on 21 March 2013). The maximum grant of shares is 675,000 shares. For 2013, the Executive Management will be granted a total of 75,000 shares if the minimum requirements are met.

      The actual level of restricted performance shares available for distribution will be communicated to each participant in 2014 after the disclosure of Vestas’ annual report for 2013. The number of shares available for distribution may be adjusted in the event of changes in the company’s capital structure.

      Provided that the minimum requirements are met, the restricted performance shares are to be granted in two equal portions in 2016 and 2018 – conditional upon the continued employment of the participant at the time of grant as set out in the specific terms and conditions of the programme and subject to mandatory law.

      Contact details

      Vestas Wind Systems A/S, Denmark
      Lars Villadsen, Senior Vice President, Investor Relations
      Tel.: +45 9730 0000

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      17:35 - 21 Mar 2013

      Vestas Wind Systems A/S’ Annual General Meeting on 21 March 2013

      Vestas Wind Systems A/S’ Annual General Meeting on 21 March 2013.

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      Vestas Wind Systems A/S’ Annual General Meeting on 21 March 2013

      The Annual General Meeting of Vestas Wind Systems A/S has been held today.

      Agenda

      1. The Board of Directors’ report (subject was not for voting)

      2. Presentation and adoption of the annual report
      The annual report 2012 was approved.

      3. Resolution for the allocation of the result of the year
      It was resolved that there will be no distribution of dividend for 2012.

      4. Election to the Board of Directors

      4.1 The Board of Directors proposed that eight members were elected to the Board of Directors
      The Board of Directors’ proposal was adopted.

      4.2 Election of members to the Board of Directors
      Bert Nordberg, Carsten Bjerg, Eija Pitkänen, Henrik Andersen, Henry Sténson, Jørgen Huno Rasmussen, Jørn Ankær Thomsen and Lars Josefsson were re-elected or elected as members of the board.

      5. Adoption of the remuneration of the Board of Directors

      5.1 Approval of the final remuneration of the Board of Directors for 2012
      93 per cent of the represented capital voted for the proposal, and the final remuneration of the Board of Directors for 2012 was thus approved.

      5.2 Approval of the level of remuneration of the Board of Directors for 2013
      a) The Board of Directors proposed that the basic remuneration and remuneration per membership of one of the board committees should be kept at the same level as in 2012
      98 per cent of the represented capital voted for the proposal, and the Board of Directors’ proposal for remuneration for 2013 was thus adopted.

      As a consequence of the approval of the above item, the separate proposal from a shareholder regarding reduction of the remuneration of the Board of Directors was revoked.

      6. Re-appointment of PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab as the company’s auditor
      PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab was re-appointed as auditor of the company

      7. Proposal from the Board of Directors and shareholders

      Proposal from the Board of Directors

      7.1 Amendment to the articles of association article 3 (authorisation to increase the share capital)
      The amendment to the articles of association was approved.

      7.2 Amendment to the articles of association article 10(1) (authority to bind the company)
      The amendment to the articles of association was approved.

      7.3 Adoption of the remuneration policy for the Board of Directors and the Executive Management
      The remuneration policy was adopted.

      7.4 Adoption of the general guidelines for incentive pay of the Board of Directors and the Executive Management
      The general guidelines for incentive pay were adopted.

      7.5 Authorisation to acquire treasury shares
      The Board of Directors was authorised to let the company acquire treasury shares as per the proposed.

      Proposal from shareholders

      7.6 Proposal from Deminor International SCRL/CVBA, Belgium, that a scrutiny should be carried out by an independent scrutinizer pursuant to sections 150-152 of the Danish Companies Act
      10 per cent of the represented capital (1.5 per cent of the total capital) voted for the proposal, and the proposal was thus not adopted.

      7.7 Proposals from Uni Chemical Partner ApS, Denmark

      a) It was recommended that the Board of Directors placed a responsibility for the company’s negative development with the present CEO Ditlev Engel
      4 per cent of the represented capital voted for the proposal, and the proposal was thus not adopted.

      b) It was recommended that the Board of Directors negotiated a 50 per cent reduction of salary and benefits for the company’s CEO Ditlev Engel
      3 per cent of the represented capital voted for the proposal, and the proposal was thus not adopted.

      c) It was recommended that the Board of Directors negotiated a 15 per cent reduction of salaries and benefits to all other employees in the Vestas Group
      0.5 per cent of the represented capital voted for the proposal, and the proposal was thus not adopted.

      After the Annual General Meeting, the Board of Directors held a statutory board meeting. At the meeting, Bert Nordberg was re-elected as chairman of the Board and Lars Josefsson was re-elected as deputy chairman of the Board.

      Contact details

      Vestas Wind Systems A/S, Denmark
      Lars Villadsen, Senior Vice President, Investor Relations
      Tel.: +45 9730 0000

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      04:45 - 01 Mar 2013

      Information in the market regarding project in the Philippines

      Information in the market regarding project in the Philippines

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      Information in the market regarding project in the Philippines

      Today, there is information in the market regarding Vestas having been appointed preferred supplier for the Burgos wind project in the Philippines.

      Vestas can confirm that Energy Development Corporation has appointed Vestas preferred supplier for the Burgos wind project in the Philippines. If this results in a firm and unconditional order, Vestas will make a company announcement immediately thereafter.

      Vestas discloses this announcement based on Vestas’ obligation as a Danish listed company, ref. the Securities Trading Act, section 27(2).

      Contact details

      Vestas Wind Systems A/S, Denmark
      Lars Villadsen, Senior Vice President, Investor Relations
      Tel.: +45 9730 0000

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      07:00 - 25 Feb 2013

      Convening for Vestas Wind Systems A/S' Annual General Meeting

      To the shareholders of Vestas Wind Systems A/S.

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      To the shareholders of Vestas Wind Systems A/S

      Pursuant to article 4 of the articles of association, you are hereby convened for the Annual General Meeting of Vestas Wind Systems A/S on Thursday, 21 March 2013 at 1:00 p.m. (CET) at the Concert Hall Aarhus (Musikhuset Aarhus), Thomas Jensens Allé, 8000 Aarhus C, Denmark.

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      08:30 - 06 Feb 2013

      Annual report 2012

      – Vestas is prepared for a tough 2013.

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      – Vestas is prepared for a tough 2013

      Summary

      2012 was a challenging year for the wind power industry and for Vestas. Revenue amounted to EUR 7.2bn, EBIT before special items was EUR 4m and free cash flow amounted to EUR (359)m. A total of EUR 701m was recognised as special items primarily driven by write-downs. For 2013, Vestas expects shipments of 4-5 GW, revenue to amount to at least EUR 5.5bn with an EBIT margin before special items of at least 1 per cent and a positive free cash flow.

      Press and analyst meeting in Aarhus, Denmark

      In connection with the disclosure of this annual report, an information meeting will be held today, Wednesday, 6 February 2013 at 10 a.m. CET (9 a.m. GMT) for analysts, investors and the media at:

      Vestas Wind Systems A/S
      Hedeager 44
      8200 Aarhus N
      Denmark

      Further details at vestas.com/investor.

      Contact details

      Vestas Wind Systems A/S, Denmark

      Investors/analysts

      Lars Villadsen, Senior Vice President, Investor Relations
      Tel.: +45 9730 7201

      Media

      Mikkel Friis-Thomsen, Media Relations
      Tel.: + 45 4098 3174

      Attachments (pdf's)

      Company announcement No. 7/2013 
      Annual report 2012

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      15:25 - 21 Jan 2013

      Information in the market regarding Dutch offshore project

      Information in the market regarding Dutch offshore project

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      Information in the market regarding Dutch offshore project

      With reference to today’s information in the market, we kindly refer to Vestas Wind Systems A/S’ company announcement No. 45/2011 of 7 November 2011.

      If this will result in a firm and unconditional order, Vestas will make a company announcement immediately thereafter.

      Vestas discloses this announcement based on Vestas’ obligation as a Danish listed company, ref. the Securities Trading Act, section 27(2).

      Contact details

      Vestas Wind Systems A/S, Denmark
      Lars Villadsen, Senior Vice President, Investor Relations
      Tel.: +45 9730 0000

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      14:35 - 17 Jan 2013

      Major shareholder announcement – BlackRock, Inc.

      Major shareholder announcement – BlackRock, Inc.

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      Major shareholder announcement – BlackRock, Inc.

      Vestas has been informed that BlackRock, Inc., USA has reduced their holding of Vestas shares from 10,259,405 shares (ref. company announcement No. 31/2012 of 20 August 2012) to 10,013,772 (4.92 per cent).

      Contact details

      Vestas Wind Systems A/S, Denmark
      Lars Villadsen, Senior Vice President, Investor Relations
      Tel.: +45 9730 0000

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      14:55 - 16 Jan 2013

      Vestas to supply towers for third parties for North American wind power projects

      The company has signed an agreement to supply towers for a number of non-Vestas wind power projects over the next two years.

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      The company has signed an agreement to supply towers for a number of non-Vestas wind power projects over the next two years

      Vestas is implementing its plan to create a more flexible and scalable business to adapt the company to the uncertain market situation in the wind industry. Part of this plan is to more effectively use the existing production capacity. This new agreement is a step in securing this.

      The agreement means Vestas will ramp up at its tower factory in Pueblo, Colorado, USA. Vestas soon will begin manufacturing the first part of the third-party tower supply agreement that could use up to 25 per cent of the production capacity. The agreement will create more than 100 jobs by the end of the first quarter of 2013.

      We are pleased with this new agreement. Vestas is known for having industry-leading quality in our manufacturing processes and facilities, and it is satisfying that other companies recognise this by choosing to use our factories to produce components for their projects,” said Jean-Marc Lechêne, Executive Vice President & COO for Vestas Wind Systems A/S.

      Vestas is continuously evaluating its manufacturing footprint and opportunities to utilise the current production capacity better. Producing components for third parties is part of this strategy, and although we have had other smaller orders, this new agreement is the first major step in realising this plan,” Lechêne said.

      Our tower factory employees are very excited about this new order,” said Tony Knopp, Vice President of Vestas Towers America, Inc., in Pueblo. “The extension of the Production Tax Credit (PTC) at the beginning of the year also was an important factor in securing this contract, and we are now in the process of evaluating our ramp-up plan.

      Contact details

      Vestas Wind Systems A/S, Denmark
      Lars Villadsen, Senior Vice President, Investor Relations
      Tel.: +45 9730 0000

      Vestas, North America, USA
      Andrew Longeteig, Head of External Communications
      Tel.: +1 503 953 3427

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      08:40 - 14 Jan 2013

      Vestas receives request for scrutiny

      Vestas receives request for scrutiny.

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      Vestas receives request for scrutiny

      A Vestas Wind Systems A/S shareholder has requested that the company’s Annual General Meeting, taking place on Thursday 21 March 2013, decides that a number of issues come under scrutiny and that an independent auditor to carry out the scrutiny will be appointed at the Annual General Meeting. The request for scrutiny has been made by Deminor, Avenue Edmond Van Nieuwenhuyselaan 6 b. 8, 1160 Brussels, Belgium, who states that they own one Vestas share. The received request is attached hereto.

      The Board of Directors will recommend the shareholders to vote against the request for scrutiny as it concern issues which have already been fully reviewed or otherwise are being investigated by the Board. In the opinion of the Board, additional investigations will be unnecessary and only obstruct the work of the Board and impose needless costs on the company.

      Convening for Vestas Wind Systems A/S’ Annual General Meeting will be published at the company’s website on 25 February 2013.

      Contact details

      Vestas Wind Systems A/S, Denmark
      Lars Villadsen, Senior Vice President, Investor Relations
      Tel.: +45 9730 0000

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      09:55 - 11 Jan 2013

      Vestas obtains final credit approval of credit facilities

      Vestas obtains final credit approval of credit facilities.

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      Vestas obtains final credit approval of credit facilities

      With reference to company announcement No. 45/2012 of 26 November 2012, Vestas hereby confirms that final credit approval and documentation of the mentioned agreement on credit facilities has now been obtained.

      Vestas’ credit facilities consist of credit lines of EUR 1,155m and a corporate Eurobond of EUR 600m.

      In addition to the credit facilities, Vestas has made an agreement on new guarantee facilities for issuance of project related guarantees.

      Contact details

      Vestas Wind Systems A/S, Denmark

      Henrik Guldbæk Welch, SVP, Head of Group Treasury and
      Lars Villadsen, SVP, Head of Investor Relations

      Tel. +45 9730 0000

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      15:50 - 03 Jan 2013

      Vestas signs 90 MW purchase agreement

      Vestas signs 90 MW purchase agreement.

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      Vestas signs 90 MW purchase agreement

      With reference to company announcement No. 44/2012 of 20 November 2012, Vestas confirms the signature of a firm and unconditional purchase agreement for the Talinay Oriente project in Chile.

      Additional information about the project:

      Customer: Enel Group
      Project name: Talinay Oriente wind power plant
      Location/Country: Chile (Limari province)
      Number of MW: 90 MW
      Number of turbines/turbine type 30 x V90-2.0 MW and 15 x V100-2.0 MW
      Contract type: Turnkey contract
      Contract scope: Supply, installation, civil and electrical works and a three-year service and maintenance agreement (AOM 4000).
      Time of delivery The project is expected to be commissioned in Q1 2013.

      Total year-to-date announced order intake in MW: 90 MW, (see vestas.com/investor).

      Contact details:

      Vestas Wind Systems A/S, Denmark
      Lars Villadsen, Senior Vice President, Investor Relations
      Tel.: +45 9730 0000

      Juan Araluce, Chief Sales Officer, Vestas Wind Systems A/S and
      Acting President, Vestas Mediterranean

      For more information and/or to arrange an interview with Juan Araluce, please contact:

      Velia Senatore, Communications Partner, External Relations, GMCR, Italy
      Tel.: +39 099 460 6415

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    • 10:40 - 21 Dec 2012

      Vestas’ financial calendar 2013

      Vestas’ financial calendar 2013

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      Vestas’ financial calendar 2013

      The Vestas Group’s financial calendar for 2013 is as follows:   

      6 February 2013  Disclosure of annual report 2012 and guidance for 2013 
      6 February 2013 Deadline for the company’s shareholders to submit a written request to the Board of Directors that a certain
      subject be included in the agenda for the Annual General Meeting 
      25 February 2013 Convening for Annual General Meeting
      21 March 2013  Annual General Meeting in Aarhus, Denmark
      8 May 2013  Disclosure of interim financial report for Q1 2013 
      21 August 2013  Disclosure of interim financial report for H1 2013 
      6 November 2013  Disclosure of interim financial report for Q3 2013 

      Contact details

      Vestas Wind Systems A/S, Denmark
      Lars Villadsen, Senior Vice President, Investor Relations
      Tel.: +45 9730 0000

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      08:40 - 21 Dec 2012

      Vestas receives 74 MW order in South Africa

      Vestas has received a firm and unconditional order for 41 V100-1.8 MW turbines for South Africa.

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      Vestas has received a firm and unconditional order for 41 V100-1.8 MW turbines for South Africa

      Additional information about the project:

      Customer: At the customer’s request, further details about the customer cannot be disclosed.
      Project name: At the customer’s request, further details about the project cannot be disclosed. 
      Location/Country: South Africa 
      Number of MW: 73.8 MW 
      Number of turbines/turbine type: 41 x V100-1.8 MW turbines
      Contract type: Supply-and-installation
      Contract scope: The contract includes supply, installation and commissioning of the wind turbines, a VestasOnline® Business SCADA solution, as well as a 15-year full-scope service agreement (AOM 5000). 
      Time of delivery: Delivery of the turbines is planned for the fourth quarter of 2013 and the wind power plant is expected to be commissioned by February 2014.

      Total year-to-date announced order intake in MW: 3,049 MW.

      Contact details

      Vestas Wind Systems A/S, Denmark
      Lars Villadsen, Senior Vice President, Investor Relations
      Tel.: +45 9730 0000

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      11:20 - 26 Nov 2012

      Agreement on credit facilities reached

      Agreement on credit facilities reached.

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      Agreement on credit facilities reached

      In July 2012 (ref. company announcement No. 30/2012 of 31 July 2012), Vestas agreed with its lenders to defer the half-year testing of the financial covenants. Following this and during the autumn of 2012, Vestas has conducted a thorough review of the future funding requirements of the company’s new operating business model.

      The review shows that with the new operating business model, Vestas will be capable of reducing its debt in the years to come. 

      Consequently, the lenders and Vestas have agreed on the following facilities and loans:

      • A revised EUR 900m syndicated loan facility with the existing lender group of nine international banks structured as a EUR 250m amortising term loan and a EUR 650m revolving credit facility. The revised facility will replace the current syndicated facility of EUR 1,300m.
      • Revised term loans on an amortising basis with the European Investment Bank for EUR 200m and with the Nordic Investment Bank for EUR 55m.
        The terms loans will be amortised by January 2015 and the revolving credit facility will expire in January 2015 with an option to extend it for another two years.

      The thorough review also concludes that the revised facilities are sufficient to support the company’s new operating business model without the need for an equity issue.

      The terms of the revolving credit facility and the term loans are subject to final credit approval and documentation. Once this is completed, Vestas will have credit facilities of EUR 1,155m and a corporate Eurobond of EUR 600m. In addition to this, Vestas is securing new project related guarantee facilities.

      Vestas’ President and CEO Ditlev Engel says: “We are satisfied to have reached an agreement with our lenders. It is in the interest of Vestas to reduce our debt and we now look forward to focusing all our efforts on the continuous development of a more scalable Vestas.

      Vestas’ CFO, Dag Andresen adds: “Vestas’ new operating business model has demonstrated its strength as our future funding requirement is now at a lower level, and we are confident that with the revised facilities Vestas will be well covered.”

      Contact details

      Vestas Wind Systems A/S, Denmark

      Henrik Guldbæk Welch, SVP, Head of Group Treasury and
      Lars Villadsen, SVP, Head of Investor Relations
      Tel. +45 9730 0000

      Disclaimer and cautionary statement

      This document contains forward-looking statements concerning Vestas' financial condition, results of operations and business. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. Forward-looking statements are statements of future expectations that are based on management’s current expectations and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance, or events to differ materially from those expressed or implied in these statements.

      Forward-looking statements include, among other things, statements concerning Vestas' potential exposure to market risks and statements expressing management’s expectations, beliefs, estimates, forecasts, projections and assumptions. A number of factors that affect Vestas' future operations and could cause Vestas' results to differ materially from those expressed in the forward-looking statements included in this document, including (without limitation): (a) changes in demand for Vestas' products; (b) currency and interest rate fluctuations; (c) loss of market share and industry competition; (d) environmental and physical risks, including adverse weather conditions; (e) legislative, fiscal, and regulatory developments, including changes in tax or accounting policies; (f) economic and financial market conditions in various countries and regions; (g) political risks, including the risks of expropriation and renegotiation of the terms of contracts with governmental entities, and delays or advancements in the approval of projects; (h) ability to enforce patents; (i) product development risks; (j) cost of commodities; (k) customer credit risks; (l) supply of components; and (m) customer-created delays affecting product installation, grid connections and other revenue-recognition factors.

      All forward-looking statements contained in this document are expressly qualified by the cautionary statements contained or referenced to in this statement. Undue reliance should not be placed on forward-looking statements. Additional factors that may affect future results are contained in Vestas' annual report for the year ended 31 December 2011 (available at vestas.com/investor) and these factors also should be considered. Each forward-looking statement speaks only as of the date of this document. Vestas does not undertake any obligation to publicly update or revise any forward-looking statement as a result of new information or future events others than as required by Danish law. In light of these risks, results could differ materially from those stated, implied or inferred from the forward-looking statements contained in this document.

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      11:35 - 20 Nov 2012

      Information in the market regarding project in Chile

      Information in the market regarding project in Chile.

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      Information in the market regarding project in Chile

      Today, there is information in the market regarding Enel buying Vestas’ 90 MW project in Chile.

      Vestas can confirm that Enel has signed a conditional purchase agreement for Vestas’ Talinay project in Chile (ref. news release from Vestas Mediterranean of 15 September 2011). As soon as the agreement becomes firm and unconditional, Vestas will immediately thereafter make a company announcement concerning this.

      Vestas discloses this announcement based on Vestas’ obligation as a Danish listed company, ref. the Securities Trading Act, section 27(2).

      Contact details

      Vestas Wind Systems A/S, Denmark
      Lars Villadsen, Senior Vice President, Investor Relations
      Tel.: +45 9730 0000

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      11:15 - 15 Nov 2012

      Vestas receives 67 MW order in South Africa

      Vestas has received a firm and unconditional order for 37 V100-1.8 MW wind turbines for South Africa.

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      Vestas has received a firm and unconditional order for 37 V100-1.8 MW wind turbines for South Africa

      Additional information about the project:

      Customer: Umoya Energy
      Project name: Hopefield Wind Farm 
      Location/Country: Hopefield, South Africa 
      Number of MW: 66.6 MW
      Number of wind turbines/type: 37 x V100-1.8 MW wind turbines 
      Contract type: Turnkey
      Contract scope: The contract includes supply, installation and commissioning of the wind turbines, civil and electrical works, a VestasOnline® Business SCADA solution as well as a 15-year full-scope service agreement (AOM 5000).
      Time of delivery: Delivery of the wind turbines will begin in the second quarter of 2013 and the wind power plant is expected commissioned by February 2014.

      Total year-to-date announced order intake in MW: 2,936 MW.

      Contact details

      Vestas Wind Systems A/S, Denmark
      Lars Villadsen, Senior Vice President, Investor Relations
      Tel.: +45 9730 0000

      Vestas Central Europe, Germany
      Dr. Wolfgang J. Schmitz, President

      For more information and/or to arrange an interview with Dr. Wolfgang J. Schmitz, please contact:
      Christina Buttler, Communications Partner, Vestas Central Europe,
      Tel: +49 40 46778 5153.

      A news release from Vestas Central Europe regarding the above-mentioned order will also be published on vestas.com under “News”.

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      17:45 - 09 Nov 2012

      Update on agreement between EDPR and Vestas

      Update on agreement between EDPR and Vestas.

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      Update on agreement between EDPR and Vestas

      With reference to company announcement No. 19/2010 of 26 April 2010, EDPR and Vestas have agreed to extend the delivery period of the wind turbines covered by the 1,500 MW master supply agreement to also cover deliveries until 2015.

      This will not change Vestas’ forecast of around 6.3 GW of shipments in 2012.

      Contact details

      Vestas Wind Systems A/S, Denmark
      Lars Villadsen, Senior Vice President, Investor Relations
      Tel.: +45 9730 0000

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      08:30 - 07 Nov 2012

      Interim financial report, third quarter 2012

      Third quarter revenue, EBIT and cash flow as expected. Fourth quarter uncertainty remains high. Additional cost savings of EUR 150m in 2013 will reduce costs by more than EUR 400m.

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      Third quarter revenue, EBIT and cash flow as expected. Fourth quarter uncertainty remains high. Additional cost savings of EUR 150m in 2013 will reduce costs by more than EUR 400m

      Summary

      Vestas generated revenue of EUR 1,988m in the third quarter of 2012 – an increase of 49 per cent to the year-earlier period. EBIT before special items increased by EUR 105m to EUR 13m. The EBIT margin before special items was 0.7 per cent – an improvement of 7.6 percentage points compared to the loss-making third quarter 2011. EBIT after special items was EUR (140)m – negatively impacted by writedowns of development projects and other assets. The free cash flow decreased to EUR (142)m from EUR 276m in the third quarter of 2011. The net debt at 30 September 2012 amounted to EUR 1,287m; an increase of 12 per cent during the quarter. The intake of firm and unconditional wind turbine orders was 401 MW in the third quarter of 2012 and the value of the wind turbine backlog amounted to EUR 8.3bn at 30 September 2012. In addition to the wind turbine order backlog, Vestas had service agreements with contractual future revenue of EUR 4.9bn at the end of September 2012, and thus the value of the combined backlog of wind turbine orders and service agreements stood at EUR 13.2bn. The high safety level at Vestas’ workplaces improved by 20 per cent and the share of renewable energy increased to 58 per cent.

      Vestas retains its full-year guidance of an EBIT margin before special items of 0-4 per cent and revenue of EUR 6,500-8,000m, including service revenue, which now is expected to rise to nearly EUR 900m versus the previous guidance of approx EUR 850m. Service EBIT margin before allocation of Group costs is still expected to be approx 17 per cent. Shipments are expected to be approx 6.3 GW. As a consequence of writedowns of R&D projects, closure of R&D centres and scaling down of the activities in India, special items are now expected to amount to EUR 225-250m versus the previous guidance of EUR 75-125m. Investments are lowered by EUR 100m to EUR 350m. The free cash flow is now expected to amount to EUR (500)-0m versus the previous guidance of a positive free cash flow. The change is due to weaker expectations for the 2012 order intake and uncertainty on the exact timing of cash inflows and outflows during the last weeks of 2012 and the first weeks of 2013.

      Vestas is evaluating its manufacturing footprint including identification of outsourcing and divestment opportunities and is preparing the organisation for a manufacturing (shipment) level of approx 5 GW. Consequently, Vestas expects to reduce its headcount further during 2013 through divestments, continuation of hiring freeze and layoffs. This is expected to bring down the number of employees to around 16,000 by the end of 2013 compared to 22,721 by the end of 2011 and an expected number of around 18,000 by the end of 2012 or early 2013. The additional cost savings are expected to amount to more than EUR 150m on an annual basis, reducing the costs by more than EUR 400m from year-end 2011 to year-end 2013.

      Press and analyst meeting

      For analysts, investors and the media, an information meeting will be held today,

      Wednesday, 7 November 2012 at 10 a.m. CET (9 a.m. GMT) at Vestas’ Headquarters, Hedeager 44, 8200 Aarhus N, Denmark.

      The information meeting will be held in English (with simultaneous interpretation into Danish) and webcast live via vestas.com/investor.

      The meeting may be attended electronically, and questions may be asked through a conference call.

      The telephone numbers for the conference call are:

      Europe:    +44 208 817 9301
      USA:        +1 718 354 1226
      Denmark: +45 7026 5040

      A replay of the information meeting will subsequently be available on www.vestas.com/investor.

      Contact details

      Vestas Wind Systems A/S, Denmark
      Lars Villadsen, Senior Vice President, Investor Relations
      Tel.: +45 9730 0000

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      08:20 - 15 Oct 2012

      Vestas receives service contract renewals for a total capacity of 533 MW

      Vestas has received service contract renewals at eight Canadian wind power plants for a total capacity of 533 MW.

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      Vestas has received service contract renewals at eight Canadian wind power plants for a total capacity of 533 MW

      Additional information:

      Customer:International Power Canada
      Project name: Prince Edward Island: West Cape, Norway - New Brunswick: Caribou- Ontario: Point-Aux-Roches, AIM, Harrow, Lake Erieau, East Lake St. Clair
      Location/Country: New Brunswick, Ontario and Prince Edward Island in Canada 
      Number of MW/turbines: 533 MW/276 turbines
      Duration of service contracts: 10 years 
      Contract scope: The service contracts include Vestas’ Active Output Management (AOM) 4000 service option, which consists of guaranteed availability, scheduled and unscheduled maintenance, replacement of major components and spare parts, and a VestasOnline® surveillance system.

      Contact details

      Vestas Wind Systems A/S, Denmark
      Lars Villadsen, Senior Vice President, Investor Relations
      Tel.: +45 9730 0000

      For more information and/or to arrange an interview with Martha Wyrsch, President of Vestas-Canadian Wind Technology, please contact:

      Andrew Longeteig, Vestas, North America
      Tel.: +1 503 327 7479

      A news release from Vestas-Canadian Wind Technology regarding the above-mentioned order will also be published on vestas.com/media under “News.”

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      08:50 - 08 Oct 2012

      Vestas receives 114 MW order in Peru

      Vestas has received a firm and unconditional order for 114 MW in Peru.

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      Vestas has received a firm and unconditional order for 114 MW in Peru

      Additional information about the project:

      Customer: ContourGlobal
      Project name: Cupisnique and Talara wind power plants 
      Location/Country: Peru 
      Number of MW: 114 MW 
      Number of turbines/turbine type(s): 45 x V100 platform and 17 x V100-1.8 MW turbines 
      Contract type: Turnkey  Contract scope: The contract includes civil and electrical works, supply, installation and commissioning of the wind turbines, a VestasOnline® Business SCADA system, as well as a 10-year service and maintenance agreement including the Active Output Management package AOM 4000. 
      Time of delivery: Delivery of the first turbines is expected to start in Q1 2013 and the wind power plants are expected to be commercially operational during Q4 2013.

      Total year-to-date announced order intake in MW: 2,590 MW.

      Contact details

      Vestas Wind Systems A/S, Denmark
      Lars Villadsen, Senior Vice President, Investor Relations
      Tel.: +45 9730 0000

      Juan Araluce, Acting President, Vestas Mediterranean and
      Chief Sales Officer, Vestas Wind Systems A/S

      For more information and/or to arrange an interview with Juan Araluce, please contact:
      Mirella Amalia Vitale, Senior Director, GMCCI MED, Spain
      Tel.: +34 91 362 80 14

      A news release from Vestas Mediterranean regarding the above-mentioned order will also be published on vestas.com under “News”.

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      10:20 - 04 Oct 2012

      Information in the market regarding order in Peru

      Information in the market regarding order in Peru.

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      Information in the market regarding order in Peru

      Today there is information in the market regarding Vestas having received an order in Peru.

      Vestas can confirm that ContourGlobal and Vestas have signed a conditional contract for a 114 MW project in Peru. As soon as the order becomes firm and unconditional, Vestas will immediately thereafter make a company announcement concerning this.

      Vestas discloses this announcement based on Vestas’ obligation as a Danish listed company, ref. the Securities Trading Act, section 27(2).

      Contact details

      Vestas Wind Systems A/S, Denmark
      Lars Villadsen, Senior Vice President, Investor Relations
      Tel.: +45 9730 0000

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      21:05 - 02 Oct 2012

      Capacity of V164 offshore turbine increased to 8 MW

      Capacity of V164 offshore turbine increased to 8 MW.

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      Capacity of V164 offshore turbine increased to 8 MW

      The V164 platform was from the very beginning developed with a possible potential of increasing the turbine size. The progress in the technology development has now shown that an 8 MW version will offer lower cost of energy and at the same time keep the reliability and structural integrity of the turbine unchanged.

      The balance of plant will be reduced due to the increased power output per turbine. This means that the cost of energy will be reduced as the number of turbines, foundations, etc., as well as the required number of service visits will also decrease.

      The development of the new V164-8.0 MW turbine is progressing according to schedule and several main components are close to completion.

      • The blade mould for the 80-metre blades is ready at Vestas’ testing facilities on the Isle of Wight, UK, and the production of the first blade for testing purposes will be initiated during Q4.
      • The prototype hub has been casted and is ready for testing.
      • The generator and gear box will be ready for testing in Q1 2013.

      Vestas is currently constructing a test bench capable of testing the complete drivetrain of the V164-8.0 MW turbine at our testing facilities in Aarhus, Denmark. The test bench will be commissioned in January 2013.

      Vestas still expects the first prototype of the V164-8.0 MW turbine to be installed in Oesterild, Denmark, in 2014.

      Contact details

      Vestas Wind Systems A/S, Denmark
      Lars Villadsen, Senior Vice President, Investor Relations
      Tel.: +45 9730 7201

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      18:55 - 02 Oct 2012

      Vestas has terminated its former Chief Financial Officer’s severance agreement

      Vestas has terminated its former Chief Financial Officer’s severance agreement.

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      Vestas has terminated its former Chief Financial Officer’s severance agreement

      Following an approach from the Danish newspaper Jyllands-Posten, stating that on 3 October 2012, they will bring an article regarding Vestas’ termination of its former CFO’s severance agreement, the following information can be given: The Board of Directors of Vestas Wind Systems A/S has on 6 September 2012 terminated the severance agreement with Henrik Nørremark.

      The reason for this unusual step is that the management of Vestas has become aware of two agreements in India concluded by Henrik Nørremark on behalf of Vestas in the autumn of 2011, which neither the Board nor the CEO knew about. Henrik Nørremark seems to have entered into these agreements in violation of the company's internal provisions regulating his power to bind the company as well as the company’s interests in general. Through his dispositions, he appears to have caused Vestas a loss of EUR 4m, possibly up to EUR 18m. By all appearances, the EUR 4m has been lost, since Henrik Nørremark has waived this amount as part of one of the agreements, while it is being examined to which extent the other EUR 14m, which has been transferred to two Indian companies, might be reversed.

      Vestas has made provisions to cover any potential losses as mentioned above.
      The decision to terminate the severance agreement with Henrik Nørremark was made after the Board’s nomination and compensation committee had conducted a thorough audit and legal investigation that brought these dispositions to light.

      Chairman of the Board of Directors, Mr Bert Nordberg, says: "The investigations we have carried out so far show that both the previous and the current Board and the CEO have been kept unaware of these transactions."

      Bert Nordberg also emphasises that he is pleased that the company has decided initially to revoke Henrik Nørremark’s severance agreement and asked its lawyers to make further investigations:

      "We have not yet taken a position on whether there are grounds for legal claims. It is a complex investigation which is going on; so any legal claim will depend on the legal assessment of any additional information, which it is possible for auditors and lawyers to obtain during the investigation process.”

      Contact details

      Vestas Wind Systems A/S, Denmark
      Lars Villadsen, Senior Vice President, Investor Relations,
      Tel. +45 9730 7201

      or

      Morten Albæk, Group Senior Vice President, Global MarCom & Corporate Relations,
      Tel. +45 4167 6569

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      08:45 - 25 Sep 2012

      Vestas signs renewal for service contracts for 192 MW with FRI-EL Green Power in Italy

      Vestas signs renewal for service contracts for 192 MW with FRI-EL Green Power in Italy.

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      Vestas signs renewal for service contracts for 192 MW with FRI-EL Green Power in Italy

      Vestas has signed with FRI-EL Green Power S.p.A. 15-year service contracts for four wind power plants in Italy for a total capacity of 192 MW, including 110 units of V90-3.0 MW, V90-2.0 MW and V52-850 kW wind turbines.

      The four wind power plants produce approximately 350,000 MWh per year, which is enough to meet the residential electricity consumption of more than 307,000 people in Italy and save the environment from about 135,000 tons of CO2 emissions on an annual basis. Installed between 2006 and 2008, the power plants are located in the regions of Campania, Apulia, Sardinia and Basilicata.

      The contracts include a 15-year service agreement with Vestas’ latest Active Output Management (AOM) 5000 service option. Consisting of scheduled and unscheduled maintenance, the AOM 5000 introduces an energy-based guarantee, which ensures the turbines are fully operational when the wind is blowing. Thus, Vestas guarantees the customer an energy-based availability through a challenging capture ratio of the available wind energy for each site covered minimising the wind power plants’ lost production.

      FRI-EL Green Power will also benefit from an enhanced engineering package which comprises solutions for blade and gearbox boroscopic inspections as well as the Vestas Turbine Monitoring solution to help the customer understand better the turbine performance and to analyse any fault conditions.

      Through these service agreements, the customer will also benefit from the Vestas Weather & Power Forecast, a high-quality, site specific, continuous weather and production forecasting system. It enables the optimisation of maintenance schedules by identifying low wind periods during which service is to be performed. It also improves customers' business by delivering precise power forecasting, and it fulfils the grid requirements established.

      The contracts have been signed by four special purpose companies owned by FRI-EL Green Power. The latter is highly specialised in the production and sale of energy from renewable sources. As of today, the company has a total generating capacity of 471 MW with wind representing the predominant energy source followed by biomass and biogas.

      “The renewal of these four advanced service contracts, taking place after the recent signature of the Gorgoglione contract for the first V112 wind power plant in Italy, is yet another sign of our solid partnership with Vestas. It also demonstrates our will to continue to have Vestas as the only service provider for 110 turbines for the next 15 years. We decided to award Vestas these contracts, as we have full confidence in Vestas’ service capabilities,” states Josef Gostner, Vice President and CEO, FRI-EL Green Power.

      “We are honoured by FRI-EL Green Power’s loyalty towards Vestas,” comments Juan Araluce, Acting President, Vestas Mediterranean and Chief Sales Officer, Vestas Wind Systems A/S, who continues, “We are ready to deliver at our best to consolidate even more this long lasting partnership. Vestas’ predictive and corrective systems combined with an integrated network of online tools and systems monitoring more than 22,000 turbines worldwide and qualified local service teams allow us to offer our customers comprehensive service and maintenance for a higher energy output.”

      With the accomplishment of this agreement, during 2012, Vestas in Italy has secured long term service contracts for around 1 GW and more than 70 per cent of these related to the already installed fleet.

      Contact details

      Juan Araluce, Chief Sales Officer, Vestas Wind Systems A/S and
      Acting President, Vestas Mediterranean

      Lars Villadsen, Senior Vice President, Investor Relations,
      Vestas Wind Systems A/S, Tel.: +45 9730 0000

      For media inquiries, please contact
      Matthew Keith Whitby, Denmark  
      Tel.: +45 9730 3505   

      Velia Senatore, Italy
      Tel.: +39 099 460 6415

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      15:30 - 17 Sep 2012

      Vestas launches new V126-3.0 MW turbine with structural shell blade design

      Tomorrow, at the Husum Wind Energy fair in Germany, Vestas will present its new V126-3.0 MW turbine.

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      Tomorrow, at the Husum Wind Energy fair in Germany, Vestas will present its new V126-3.0 MW turbine

      The turbine is the latest variant of the 3 MW platform on which the V112-3.0 MW is built. Vestas will continue to optimise this platform in order to offer further options to the customers.

      The new V126-3.0 MW turbine has a rotor diameter of 126 metres to target low wind conditions (i.e. wind class IEC III) and features a structural shell blade design. The well-known blade design halves the capital investment in new production lines, improves flexibility in manufacturing, and at the same time maintains the reliability and high quality of Vestas’ turbines.

      The V126-3.0 MW turbine is mainly targeting the European markets. In August 2010, Vestas released the first turbine in its new 3 MW platform, the V112-3.0 MW turbine, which has been very well received by the market, resulting in an intake of firm and unconditional orders of more than 3 GW since the release.

      Anders Vedel, Executive Vice President, Turbines R&D said: “The rotor swept area of the new V126-3.0 MW wind turbine has been increased by 27 per cent and the turbine is specifically designed to yield maximum power production on low wind sites. There is a huge need for larger rotor sizes in the low wind market, particularly in Europe, and the V126-3.0 MW offers a new option for customers who want to combine the proven technology and serviceability of the 3 MW platform with greater power output in low wind sites. Furthermore, the structural shell blade design halves the investments in new production lines.”

      The first prototype of the V126-3.0 MW turbine is expected to be installed in Østerild in Denmark during the second quarter of 2013.

      To learn more about the new turbine, please follow this link: www.worldofwind.vestas.com/presentations/v126_ca.

      Contact details

      Vestas Wind Systems A/S, Denmark

      Lars Villadsen, Senior Vice President, Investor Relations
      Tel.: +45 9730 0000

      Mikkel Friis Thomsen, Media & External Relations
      Tel: +45 4098 3174

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      23:50 - 27 Aug 2012

      Information in the market regarding potential strategic cooperation with Mitsubishi Heavy Industries

      Information in the market regarding potential strategic cooperation with Mitsubishi Heavy Industries.

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      Information in the market regarding potential strategic cooperation with Mitsubishi Heavy Industries

      Today, there is information in the market that Vestas is in dialogue with Mitsubishi Heavy Industries.

      Vestas can confirm that there is an ongoing dialogue between the two companies regarding a potential strategic cooperation.

      If the dialogue results in an agreement, Vestas will make a company announcement on the issue immediately thereafter.

      Vestas discloses this announcement based on Vestas’ obligation as a Danish listed company, ref. the Securities Trading Act, section 27(2).

      Contact details

      Vestas Wind Systems A/S, Denmark
      Lars Villadsen, Senior Vice President, Investor Relations
      Tel.: +45 9730 0000

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      08:35 - 22 Aug 2012

      Interim financial report - second quarter and first half year 2012

      2012 outlook for EBIT, revenue and cash flow retained. Preparation for 2013 intensifies with additional redundancies of 1,400 employees.

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      2012 outlook for EBIT, revenue and cash flow retained. Preparation for 2013 intensifies with additional redundancies of 1,400 employees.

      Summary

      2012 outlook for EBIT, revenue and cash flow retained. Preparation for 2013 intensifies with additional redundancies of 1,400 employees.

      Vestas generated revenue of EUR 1,611m in the second quarter of 2012 – an increase of 15 per cent to the year-earlier period. EBIT before special items declined by 48 per cent to EUR 40m. The EBIT margin before special items was 2.5 per cent – an improvement of 21 percentage points compared to the loss-making first quarter 2012. EBIT after special items was EUR 18m. The free cash flow decreased to EUR (338)m from EUR (63)m in the second quarter of 2011. For the first half of 2012, the free cash flow was EUR 139m lower than in the first half of 2011. The net debt at 30 June 2012 amounted to EUR 1,147m; an increase of 7 per cent compared to the end of June 2011. The intake of firm and unconditional orders was 945 MW in the second quarter of 2012 and the value of the backlog of firm and unconditional orders amounted to EUR 9.6bn at 30 June 2012. In addition to the turbine order backlog, Vestas had service agreements with contractual future revenue of EUR 4.8bn at the end of June 2012, and thus the value of the combined backlog of turbine orders and service agreements stood at EUR 14.4bn – the highest level ever recorded. The high safety level at Vestas’ workplaces was maintained and the share of renewable energy increased to 52 per cent.

      Vestas retains its full-year guidance of an EBIT margin of 0-4 per cent before special items, revenue of EUR 6,500-8,000m and a positive free cash flow. However among other things due to a lower order intake in the first half year and delays of grid connections in China, shipments are now expected to amount to approx 6.3 GW against the previous expectation of approx 7 GW. Investments are now expected to be EUR 450m against the previous guidance of EUR 550m. Due to a lower cost base, expectations for the service EBIT margin before allocation of Group costs are raised to 17 per cent. 

      In order to make sure that Vestas will be profitable with an expected manufacturing level (shipments) of around 5 GW in 2013, Vestas now intensifies the adjustment of the organisation. Consequently, Vestas now expects the number of employees at year-end to be around 19,000 against the previous guidance of 20,400. This will contribute to a fixed cost reduction of more than EUR 250m with full effect as from the end of 2012. As a consequence of the intensified redundancy plan, special items are now expected to amount to EUR 75-125m.

      Vestas has initiated a process to identify outsourcing opportunities and also seeks to involve its suppliers in larger parts of the supply chain than is the case today. The intention is to further increase the manufacturing flexibility and to reduce Vestas’ capital requirement.

      Vestas expects to realise savings of approx EUR 30m (EBIT impact) in 2012 related to the ongoing product cost-out program. Savings will be realised late in the year and Vestas expects the savings to increase significantly in 2013.

      As announced on 31 July 2012, Vestas has agreed with its lenders to defer the half-year 2012 testing of the financial covenants contained in Vestas’ banking facilities. Furthermore, the lenders have allowed drawings, which in the opinion of Vestas are sufficient for the continued operation of Vestas on usual terms as the company expects to test on normal terms in the future.

      Contact details

      Vestas Wind Systems A/S, Denmark
      Lars Villadsen, Senior Vice President, Investor Relations
      Tel.: +45 9730 0000

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      19:35 - 20 Aug 2012

      Major shareholder announcement – BlackRock, Inc

      BlackRock, Inc. has increased their holdings of Vestas shares to 10,259,405 shares (5.04 per cent).

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      BlackRock, Inc. has increased their holdings of Vestas shares to 10,259,405 shares (5.04 per cent)

      Today, Vestas has received information from BlackRock Investment Management (UK) Limited, 12 Throgmorton Avenue, London EC2N 2DL, UK that BlackRock, Inc. has increased their holdings of Vestas shares to 10,259,405 shares (5.04 per cent).

      Contact details

      Vestas Wind Systems A/S, Denmark
      Lars Villadsen, Senior Vice President, Investor Relations
      Tel.: +45 9730 0000

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      14:25 - 31 Jul 2012

      Preliminary first half-year 2012 figures and update on credit facilities

      Preliminary first half-year 2012 figures and update on credit facilities.

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      Preliminary first half-year 2012 figures and update on credit facilities

      Vestas has decided to disclose some preliminary financial figures for the first half year of 2012 and to update the market on its credit facilities. The interim financial report for the first half year of 2012 will be disclosed as scheduled on 22 August 2012.

      The below figures are preliminary and are still in the process of being finally reviewed as some of the figures may be affected by among other things the final  evaluations of provisions, deferred tax assets  and other items with accounting judgements.

      Vestas returns to profitability in the second quarter after loss-making first quarter

       

      Q2 2012* 

      Q1 2012 

      Change 

      Produced and shipped (MW) 

      2,160

      931 

      132% 

      Revenue (mEUR) 

      1,611 

      1,105 

      46% 

      EBIT before special items (mEUR) 

      40 

      (204) 

      EUR 244m

      EBIT margin before special items (%) 

      2.5 

      (18.5)

      21% points 

      EBIT after special items (mEUR) 

      18 

      (245) 

      EUR 263m

      Free cash flow (mEUR) 

      (338) 

      (295) 

      EUR (43)m 

      * Preliminary figures

      Update on credit facilities

      Vestas has experienced a strong improvement in earnings and activity level in the second quarter of 2012 compared to the first quarter of the year. Despite this, financial covenants testing is affected by the disappointing results realised by Vestas in the second half year of 2011 and the first quarter of 2012, which mainly related to the cost overruns in relation to the introduction of new technology.

      Vestas has therefore agreed with its lenders to defer the half-year 2012 testing of the financial covenants contained in Vestas’ banking facilities and the lenders have allowed drawings, which in the opinion of Vestas are sufficient for the continued operation of Vestas on usual terms since the company expects to test on normal terms in the future.

      Vestas considers this to be a temporary issue and in the light of the company’s positive results in the second quarter of 2012 combined with the large backlog of firm and unconditional orders, Vestas expects to meet the financial covenants contained in its current banking facilities in the near-term future.

      Preliminary financial figures

       

      Q2
      2012*

      Q2
      2011

      Change

      H1
      2012* 

      H1
      2011 

      Change

      Produced and shipped (MW) 

      2,160

       1,417

       52

       3,091

      2,051

      51

      Revenue (mEUR) 

      1,611

       1,401

      15

      2,716

      2,461

      10

      Gross profit (mEUR) 

      248

      248

      0

      260

      348

      (25)

      EBITDA before special items (mEUR) 

      161

      150

      7

      71

      150

      (53)

      EBIT before special items (mEUR) 

      40

      77

      (48)

      (164)

      8

      -

      EBIT margin before special items (%)

      2.5

      5.5

      -

      (6.0)

      0.3

      -

      EBIT after special items (mEUR) 

      18

      77

      (77)

      (227)

      8

      -

      Profit/(loss) for the period (mEUR) 

      (8)

      55

      -

      (170)

      (30)

      -

      Free cash flow (mEUR) 

      (338)

      (63)

      -

      (633)

      (494)

      -

      * Preliminary figures

      Contact details

      Vestas Wind Systems A/S, Denmark
      Lars Villadsen, Senior Vice President, Investor Relations
      Tel.: +45 9730 0000

      Disclaimer and cautionary statement

      This document contains forward-looking statements concerning Vestas' financial condition, results of operations and business. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. Forward-looking statements are statements of future expectations that are based on management’s current expectations and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance, or events to differ materially from those expressed or implied in these statements.

      Forward-looking statements include, among other things, statements concerning Vestas' potential exposure to market risks and statements expressing management’s expectations, beliefs, estimates, forecasts, projections and assumptions. A number of factors that affect Vestas' future operations and could cause Vestas' results to differ materially from those expressed in the forward-looking statements included in this document, including (without limitation): (a) changes in demand for Vestas' products; (b) currency and interest rate fluctuations; (c) loss of market share and industry competition; (d) environmental and physical risks, including adverse weather conditions; (e) legislative, fiscal, and regulatory developments, including changes in tax or accounting policies; (f) economic and financial market conditions in various countries and regions; (g) political risks, including the risks of expropriation and renegotiation of the terms of contracts with governmental entities, and delays or advancements in the approval of projects; (h) ability to enforce patents; (i) product development risks; (j) cost of commodities; (k) customer credit risks; (l) supply of components; and (m) customer-created delays affecting product installation, grid connections and other revenue-recognition factors.

      All forward-looking statements contained in this document are expressly qualified by the cautionary statements contained or referenced to in this statement. Undue reliance should not be placed on forward-looking statements. Additional factors that may affect future results are contained in Vestas' annual report for the year ended 31 December 2011 (available at www.vestas.com/investor) and these factors also should be considered. Each forward-looking statement speaks only as of the date of this document. Vestas does not undertake any obligation to publicly update or revise any forward-looking statement as a result of new information or future events others than as required by Danish law. In light of these risks, results could differ materially from those stated, implied or inferred from the forward-looking statements contained in this document.

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      09:05 - 29 Jun 2012

      Vestas appoints new Chief Operating Officer

      Vestas appoints new Chief Operating Officer.

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      Vestas appoints new Chief Operating Officer

      Vestas Wind Systems A/S has appointed Jean-Marc Lechêne, age 53, as new Chief Operating Officer (COO) with the responsibility for Vestas’ manufacturing and sourcing. Jean-Marc Lechêne’s main task will be to ensure the cost out process on key technologies in close collaboration with Vestas’ R&D unit, Vestas Turbines R&D. Jean-Marc Lechêne will become a member of Vestas’ Executive Management team.

      Jean-Marc Lechêne has considerable experience in the production industry, working in global leading companies in France, the USA, Canada and China. In Jean-Marc Lechêne’s previous positions he has had the operational responsibility for several factories and the task of redefining strategy and improving profitability. Recently, Jean-Marc Lechêne has worked as a private consultant implementing major cost reduction projects. From 2008 to 2011, he was general director at Michelin (Heavy Weight Tires Europe). From 1993 to 2008, he held several key positions at Lafarge – the world’s second largest cement production company – latest as Executive Vice President and President of cement operations. From 1988 to 1993, Jean-Marc Lechêne worked as senior manager at McKinsey & Co in France.

      Jean-Marc Lechêne holds an MBA from INSEAD and a master’s degree from École des Mines de Paris, a leading French engineering school.

      Bert Nordberg, chairman of the Board of Directors of Vestas Wind Systems A/S, points out why Jean-Marc Lechêne has the right profile as COO for Vestas:

      It is crucial for Vestas that our operation is lean and effective, making sure our production setup is as cost effective as possible while not compromising the quality of our products and the safety for our employees. Jean-Marc Lechêne brings in a strong background of this to Vestas, with a proven track record of results from his previous positions.”

      Ditlev Engel, President and CEO of Vestas Wind Systems A/S underlines the importance of Jean-Marc Lechêne’s profile in making Vestas a profitable company:

      During his career, Jean-Marc has been working with several major cost out and restructuring projects, and this experience is vital for Vestas and the focus we have on ensuring that we make our key products more profitable. I also welcome Jean-Marc as part of the Vestas Executive Management team, and I look forward to the contributions he will bring to our company.”

      Jean-Marc Lechêne himself explains why he has accepted the position as COO for Vestas:

      During my professional life I have gained a considerable experience in working with restructuring and cost out projects in large global companies and I believe this background is just the right for the situation that Vestas is now in. But I also look very much forward to working in a company that has a strong impact on the world’s future energy mix by providing products and services with industry leading quality and performance.

      Jean-Marc Lechêne will move to Denmark and start in his new position as of 1 July 2012.

      With the appointment of Jean-Marc Lechêne as COO of Vestas, the Executive Management at Vestas Wind Systems A/S will consist of President and CEO Ditlev Engel, Chief Turbines Officer Anders Vedel, Chief Sales Officer Juan Araluce and Chief Financial Officer Dag Andresen. The position as responsible for Global Solutions & Services has not yet been filled. Anders Vedel (CTO) is currently also responsible for this area.

      Contact details

      Lars Villadsen 
      Senior Vice President, Investor Relations
      Tel: +45 9730 0000

      Media contacts
      Jens Velling, Communication Partner, External Relations

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      15:00 - 28 Jun 2012

      Vestas receives 216 MW offshore order in Belgium

      Vestas has received a firm and unconditional order for 72 x V112-3.0 MW turbines for the Northwind Offshore Wind Farm in Belgium.

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      Vestas has received a firm and unconditional order for 72 x V112-3.0 MW turbines for the Northwind Offshore Wind Farm in Belgium

      Additional information about the project:

      Customer: Northwind NV 
      Project name: Northwind Offshore Wind Farm 
      Location/Country: Belgium Number of MW: 216 MW 
      Number of turbines/turbine type: 72 x V112-3.0 MW 
      Contract type: Supply-and-installation  
      Contract scope: Supply, installation and a 15-year service and maintenance agreement (AOM 4000). 
      Time of delivery: Delivery of the turbines will take place during Q2 2013 and the project is expected commissioned in Q2 2014.

      Total year-to-date announced order intake in MW: 1,973 MW.

      Contact details

      Vestas Wind Systems A/S, Denmark
      Lars Villadsen, Senior Vice President, Investor Relations
      Tel.: +45 9730 0000

      For more information and/or to arrange an interview with, Uffe Vinther-Schou, Senior Vice President, Vestas Offshore A/S please contact:

      Kasper Ibsen Beck, Media Director
      Tel.: +45 9730 0000
      A news release from Vestas Offshore regarding the above-mentioned order will also be published on vestas.com under “News”.

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      14:10 - 28 Jun 2012

      Election of group representatives for the Board of Directors of Vestas Wind Systems A/S

      Election of group representatives for the Board of Directors of Vestas Wind Systems A/S.

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      Election of group representatives for the Board of Directors of Vestas Wind Systems A/S

      The employees of the Vestas Group's Danish companies have held the ordinary election for representation in the Board of Directors according to the current law on employee representation.

      Effective as from today, the following employees will join the Board of Directors of Vestas Wind Systems A/S as group representatives:

       

      Name   Job/position   Place of employment 
      Michael Abildgaard Lisbjerg  Production Worker  Vestas Manufacturing A/S
      Nacelles 
      Kim Hvid Thomsen  Production Worker  Vestas Manufacturing A/S
      Nacelles 

      Contact details

      Vestas Wind Systems A/S, Denmark
      Lars Villadsen, Senior Vice President, Investor Relations
      Tel.: +45 9730 0000

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      15:35 - 27 Jun 2012

      Vestas receives 90 MW order in Sweden

      Vestas has received a firm and unconditional order for 30 x V90-3.0 MW wind turbines for Sweden.

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      Vestas has received a firm and unconditional order for 30 x V90-3.0 MW wind turbines for Sweden

      Additional information about the project:

      Customer: O2 Vind AB
      Project name: Glötesvålen
      Location/Country: Sweden
      Number of MW: 90 MW
      Number of turbines/turbine type: 30 x V90-3.0 MW
      Contract type: Supply-and-installation
      Contract scope: Supply, installation and commissioning of the turbines and a 15-year service and maintenance agreement (AOM 5000).
      Time of delivery: Delivery of the turbines will take place during May 2014 and the project is expected completed in January 2015.

      Total year-to-date announced order intake in MW: 1,757 MW.

      Contact details

      Vestas Wind Systems A/S, Denmark
      Lars Villadsen, Senior Vice President, Investor Relations
      Tel.: +45 9730 0000

      Vestas Northern Europe, Sweden
      Klaus Steen Mortensen, President
      Tel.: +46 40 376 700

      A news release from Vestas Wind Systems A/S regarding the above-mentioned order will also be published on vestas.com under “News”.

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      13:40 - 26 Jun 2012

      Election of company employee representatives for the Board of Directors of Vestas Wind Systems A/S

      Election of company employee representatives for the Board of Directors of Vestas Wind Systems A/S.

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      Election of company employee representatives for the Board of Directors of Vestas Wind Systems A/S

      The employees of Vestas Wind Systems A/S have held the ordinary election for representation in the Board of Directors according to the current law on employee representation.

      Effective as from today, the following employees will join the Board of Directors of Vestas Wind Systems A/S as company representatives:

      Name   Job/position  Place of employment  
      Sussie Dvinge Agerbo  Management Assistant  Vestas Wind Systems A/S
      Turbines R&D 
      Knud Bjarne Hansen  Senior Vice President  Vestas Wind Systems A/S
      Turbines R&D 

      On 28 June 2012, the ordinary election among the employees in the Vestas Group’s Danish companies will take place according to the current law on employee representation.

      Contact details

      Vestas Wind Systems A/S, Denmark
      Lars Villadsen, Senior Vice President, Investor Relations
      Tel.: +45 9730 0000

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      05:10 - 26 Jun 2012

      Vestas unites its Asia Pacific and China sales business units

      Vestas unites its Asia Pacific and China sales business units.

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      Vestas unites its Asia Pacific and China sales business units

      As part of the restructuring of Vestas aimed at reducing fixed costs, improve profitability and increase customer focus, Vestas has decided to unite its two current sales business units – Vestas Asia Pacific and Vestas China. As a consequence of this reorganisation, Sean Sutton, President of Vestas Asia Pacific, has left Vestas after mutual agreement.

      Going forward, Jens Tommerup, President of Vestas China, will take on the role as head of the new, united sales business unit for China and Asia Pacific.

      The new setup will align Vestas’ efforts in a region where the Chinese and Asian markets already are closely interlinked. The creation of a combined sales business unit for China and Asia Pacific will support Vestas’ ability to share best practises across Asia, ultimately benefitting Vestas’ customers.

      Contact details

      Vestas Wind Systems A/S, Denmark
      Lars Villadsen, Senior Vice President, Investor Relations
      Tel.: +45 9730 0000

      Vestas Wind Systems A/S, Denmark
      Juan Araluce, Chief Sales Officer

      For media inquiries, please contact
      Jens Velling, Media & External Relations
      Tel.: +45 9730 0000

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      10:00 - 25 Jun 2012

      Vestas secures its largest service contract renewal for 1,897 MW

      Vestas secures its largest service contract renewal for 1,897 MW.

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      Vestas secures its largest service contract renewal for 1,897 MW

      Vestas has signed its largest ever service and maintenance renewal agreement with EDP Renováveis (EDPR) to service more than 1,100 turbines across 30 wind power plants in the United States and Europe for up to seven years.

      The global service agreement represents a total capacity of 1,897 MW. More than 70 per cent of the turbines covered by this agreement are in the United States, while the remaining wind power plants are in Spain, France, Romania, Portugal and Italy.

      This service agreement is a demonstration of our customer focus, service orientation and versatility in different wind markets and site conditions. It also proves that Vestas continuously delivers the highest business case certainty and return on investment through its enhanced service solutions and highly qualified global service team,” said Ditlev Engel, President and CEO of Vestas Wind Systems A/S. "Close, regular dialogue with our customers, a focus on safety and excellence, and the most extensive experience in the industry allowed Vestas to win this business and extend the excellent relationship with our customer.”

      Through this agreement, Vestas proves its technological leadership and capitalises on its service capability by using local service teams and six regional performance, diagnostic and surveillance centres monitoring almost 22,000 turbines globally, equivalent to 37.5 GW.

      We are excited to continue strengthening our partnership with one of the world’s largest renewable energy companies. Thanks to our service organisation’s strong performance across our fleet at global level, we are able to offer EDPR the best possible service and maintenance on the market,” said Juan Araluce, Chief Sales Officer of Vestas Wind Systems A/S and acting President of Vestas Mediterranean. “Vestas and EDPR have built a strong relationship over the years. This service contract ensures further long-term collaboration with this key player, as well as long-term jobs for the many Vestas employees who provide maintenance for these turbines.”

      The contract includes a variety of service products such as the Active Output Management (AOM) 4000 package. AOM 4000 is a full-scope service contract consisting of scheduled and unscheduled maintenance and consumables. This service package offers solid risk management for customers who want an availability guarantee measured against an agreed threshold. The AOM 4000 offers customers Vestas’ exceptional track record in service performance, avoiding unforeseen operational costs.

      Contact details

      Vestas Wind Systems A/S
      Lars Villadsen, Senior Vice President, Investor relations 
      Tel: +45 9730 0000

      Vestas Wind Systems A/S
      Juan Araluce, Chief Sales Officer and Acting President Vestas Mediterranean

      For media inquiries, please contact
      Maria J. Vazquez, Communications
      Vestas Mediterranean, Spain
      Tel.: +34 91 362 82 00

       

      Andrew Longeteig, Communications
      Vestas Americas, USA
      Tel.: +1 503327 7479, @: anlon@vestas.com

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      08:00 - 25 Jun 2012

      Vestas phases out the kilowatt platform and terminates the production at its Hohhot factory in China

      Vestas phases out the kilowatt platform and terminates the production at its Hohhot factory in China

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      Vestas phases out the kilowatt platform and terminates the production at its Hohhot factory in China

      On the basis of thorough internal analyses, Vestas projects a low market demand for the kilowatt platform in the coming years. Therefore, Vestas has decided to phase out the production of the kilowatt platform, including the V52-850 kW and V60-850 kW turbines.

      Consequently, Vestas will terminate the production at its factory in Hohhot, China, where 300-350 employees will be made redundant.

      Vestas will honour all firm sales commitments for kilowatt turbines and make sure that any ongoing negotiations for kilowatt orders will be finalised considering the customers’ needs and Vestas’ profitability. Servicing the kilowatt platform will remain an important business for Vestas and we will continue to offer comprehensive service solutions to the owners and operators of the kilowatt turbines.

      Vestas remains firmly committed to China and has confidence in China’s long-term growth in the wind energy industry in spite of the termination of the production at the Hohhot factory. The optimisation of Vestas’ overall business will bring the total number of employees in China to approx 2,600, spread across two production bases in Tianjin and Xuzhou and two offices in Beijing and Shanghai, respectively.

      The termination of the production at the Hohhot factory will come into force over the summer and will lead to annual savings of around EUR 10m. The cost of closing the factory is covered by the 2012 guidance for special items of EUR 50-100m.

      Contact details

      Vestas Wind Systems A/S, Denmark
      Lars Villadsen, Senior Vice President, Investor Relations
      Tel.: +45 9730 0000

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      08:40 - 04 Jun 2012

      Major shareholder announcement – BlackRock, Inc

      Major shareholder announcement – BlackRock, Inc

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      Major shareholder announcement – BlackRock, Inc

      Vestas has been informed that BlackRock, Inc., USA has reduced their holding of Vestas shares from 10,238,578 shares (ref. company announcement No. 32/2010 of 8 September 2010) to 8,179,963 (4.02 per cent).

      Contact details

      Vestas Wind Systems A/S, Denmark
      Lars Villadsen
      Senior Vice President, Investor Relations
      Telephone +45 9730 0000

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      15:35 - 21 May 2012

      Information in the market regarding projects in South Africa

      Information in the market regarding projects in South Africa

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      Information in the market regarding projects in South Africa

      Today, there is information in the market regarding Vestas being appointed preferred supplier for five projects in South Africa.

      Vestas can confirm we have been appointed preferred supplier for five projects in South Africa with a total capacity of 297 MW. If the further negotiations between the developers and Vestas will result in firm and unconditional orders, Vestas will make a company announcement immediately thereafter.

      Vestas discloses this announcement based on Vestas’ obligation as a Danish listed company, ref. the Securities Trading Act, section 27(2).

      Contact details

      Vestas Wind Systems A/S, Denmark
      Lars Villadsen
      Senior Vice President, Investor Relations
      Tel.: +45 9730 0000

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      08:30 - 02 May 2012

      Interim financial report, first quarter 2012

      Outlook for EBIT, cash flow and revenue retained. Disappointing first quarter revenue and earnings due to low level of deliveries, too high turbine costs and additional unexpected warranty provisions of EUR 40m.

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      Outlook for EBIT, cash flow and revenue retained. Disappointing first quarter revenue and earnings due to low level of deliveries, too high turbine costs and additional unexpected warranty provisions of EUR 40m.

      Summary

      Vestas generated revenue of EUR 1,105m in the first quarter of 2012 – an increase of 4 per cent to the year-earlier period. EBIT before special items declined by EUR 135m to EUR (204)m. The EBIT margin before special items was (18.5) per cent. After special items of EUR 41m, EBIT was EUR (245)m. The free cash flow improved to EUR (295)m from EUR (431)m in the first quarter of 2011. The net debt at 31 March 2012 amounted to EUR 850m; an increase of EUR 305m during the quarter. The intake of firm and unconditional orders was 1,269 MW in the first quarter of 2012 and the backlog of firm and unconditional orders amounted to EUR 10.0bn at 31 March 2012 – which is the highest level ever recorded. In addition to the order backlog, Vestas had service agreements with contractual future revenue of EUR 4.2bn at the end of March 2012. Safety at Vestas’ workplaces improved once again and the share of renewable energy increased to 44 per cent.

      Monitoring data from Vestas’ Performance and Diagnostics centres have shown that 376 V90-3.0 MW gearboxes delivered to Vestas from June 2009 to September 2011 may potentially need additional maintenance, repair or replacement due to malfunctioning bearings. Thus, additional provisions of EUR 40m have been made in the quarter. Vestas will pursue all relevant actions with regards to potential compensation from the suppliers.

      Vestas retains its full-year guidance of an EBIT margin of 0-4 per cent, revenue of EUR 6,500-8,000m, a positive free cash flow, shipments of approx 7 GW and investments of EUR 550m. Due to the additional provisions made for the V90-3.0 MW gearboxes, warranty provisions for the year are now expected to be around 3 per cent of the expected full-year revenue, against the previous guidance of less than 3 per cent of full-year revenue.

      Vestas continues the adjustment of the organisation and still expects the number of employees at year-end to be around 20,400. This will contribute to a fixed cost reduction of more than EUR 150m with full effect as from the end of 2012. During the third quarter of 2012, Vestas will make a decision on its future footprint in the US market in case the PTC scheme is not extended.

      The development of the potentially leading offshore platform, the V164-7.0 MW turbine, continues; however, to align the expected serial production date with Vestas’ current offshore market outlook, Vestas has reduced the pace of development. The prototype is now expected to be installed in Denmark during 2014.

      Vestas has received inquiries from potential partners on the further development of the V164-7.0 MW turbine.

      Contact details

      Vestas Wind Systems A/S, Denmark
      Lars Villadsen
      Senior Vice President, Investor Relations
      Tel.: +45 9730 0000


      To see the full interim financial report for the first quarter of 2012, please see the attached pdf.

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      15:40 - 27 Apr 2012

      Vestas receives 90 MW order in Ukraine

      Vestas has received a firm and unconditional order for 30 V112-3.0 MW wind turbines for Ukraine.

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      Vestas has received a firm and unconditional order for 30 V112-3.0 MW wind turbines for Ukraine.

      Additional information about the project

      Customer: DTEK Group
      Project name: Botievo project
      Location/Country: Zaporozhye region, Ukraine
      Number of MW: 90 MW Number of turbines/turbine type: 30 x V112-3.0 MW turbines
      Contract type: Supply-and-installation
      Contract scope: The contract includes supply, installation and commissioning of the turbines as well as a VestasOnline® Business SCADA system.
      Time of delivery: The project is scheduled to be completed in the fourth quarter of 2012.

      Total year-to-date announced order intake in MW: 1.055 MW.

      Contact details

      Vestas Wind Systems A/S, Denmark
      Lars Villadsen
      Senior Vice President, Investor Relations
      Tel.: +45 9730 0000

      For more information and/or to arrange an interview with Dr. Wolfgang J. Schmitz, President of Vestas Central Europe, Germany, please contact:

      Christina Buttler
      Communications Advisor
      Tel: +49 40 46778 5153
      Mobile: +49 (0) 160 90141736

      A news release from Vestas Central Europe regarding the above-mentioned order will also be published on vestas.com under “News”.

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      10:10 - 27 Apr 2012

      Vestas appoints new Chief Financial Officer (CFO)

      Vestas appoints new Chief Financial Officer (CFO)

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      Vestas appoints new Chief Financial Officer (CFO)

      Vestas Wind Systems A/S has appointed Dag Gunnar Andresen, 48, as new Chief Financial Officer (CFO) and member of the Executive Management. He is expected to take up office around 1 August this year.

      The new CFO not only has considerable experience within financial management. Dag Andresen also has extensive knowledge of the energy sector, as he recently held a position as CFO of Scandinavia's largest energy company, Vattenfall AB, which is also one of Sweden’s three largest companies.

      In Vattenfall Dag Andresen was member of the Executive Management from 2008 to 2011, and before that he held senior positions in other companies like Nordea (2001-2008), Den Norske Bank (DNB) (2000-2001), the Nordic Investment Bank (1996-2000) and in the Norwegian industrial Group Kvaerner (1994-1996).

      He has been educated at business schools in Oslo and Helsinki, as well as at the three international management schools, IMD in Switzerland and Stanford and Harvard, both in the USA. Furthermore, Dag Andresen pursued a career in the Norwegian Navy and the Norwegian Air Force from 1984 to 1990.

      For the Chairman of Vestas, Mr Bert Nordberg, it has been crucial to attract a major financial force:

      "With Dag Andresen at the table Vestas will be provided with one of the absolutely best forces within this area. His professional background, the significant results he has achieved and not least the testimonials he gets, are all very convincing. As he moreover has a thorough knowledge of the energy sector from within, we have fulfilled all our wishes for the new CFO profile," says Nordberg.

      With the appointment of the new Chief Financial Officer, Vestas furthermore strengthens communications with analysts and investors, which CEO Ditlev Engel has attached great importance to:

      "Vestas needs exactly the background that Dag Andresen brings along. Not only the financial management skills, but certainly also his major experience in managing the contact to the stock market as well as the financial markets. I look forward to the contributions he can bring to the Executive Management and I have no doubt that he has not only the skills, but also the personality to undertake this important assignment,” says Ditlev Engel.

      Andresen himself sees the CFO position as an offer he could not refuse:

      “When you consider the huge environmental challenges the world is facing, there is no doubt in my mind that Vestas is one of the absolutely most exciting companies to be part of. Even though I am of course aware that there is a need for significant tightening in the company in order to increase the profitability again. I am used to such challenges, I am fond of them and therefore I look very much forward to contributing to get Vestas back on the earnings track again,” says Dag Andresen.

      With the appointment of the new CFO, the Executive Management team at Vestas Wind Systems A/S consists of President and CEO, Ditlev Engel, Anders Vedel (Chief Turbines Officer), Juan Araluce (Chief Sales Officer) and Dag Andresen (Chief Financial Officer).

      The remaining two executive positions, which were established in January, responsible for Global Solutions & Services and Manufacturing, respectively, have not yet been filled. Until that happens, the overall responsibility for Global Solutions & Services lies with Anders Vedel, while the responsibility for Manufacturing for the moment lies with Ditlev Engel.

      Contact details

      Chairman of the Board of Directors, Mr Bert Nordberg
      Group President & CEO, Mr Ditlev Engel
      Chief Financial Officer, CFO, Mr Dag Andresen,

      via
      Press Officer, Mr Kasper Ibsen Beck: Tel +45 22 87 87 73.

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      08:50 - 19 Apr 2012

      Information in the market regarding order in Ukraine

      Today there is information in the market regarding Vestas having received an order in Ukraine.

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      Today there is information in the market regarding Vestas having received an order in Ukraine.

      Vestas can confirm that the DTEK Group and Vestas have signed a conditional order for the Botievo project in Ukraine. As soon as the order becomes firm and unconditional, Vestas will immediately thereafter make a company announcement concerning this.

      Vestas discloses this announcement based on Vestas’ obligation as a Danish listed company, ref. the Securities Trading Act, section 27(2).

      Contact details

      Vestas Wind Systems A/S, Denmark
      Lars Villadsen
      Senior Vice President, Investor Relations
      Tel.: +45 9730 0000

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      18:40 - 29 Mar 2012

      Vestas Wind Systems A/S’ AGM on 29 March 2012

      Vestas Wind Systems A/S’ Annual General Meeting on 29 March 2012

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      Vestas Wind Systems A/S’ Annual General Meeting on 29 March 2012

      Vestas Wind Systems A/S’ Annual General Meeting on 29 March 2012

      The Annual General Meeting of Vestas Wind Systems A/S has been held today.

      Items 1 to 3 of the agenda were discussed and approved as presented. There will be no distribution of dividend for 2011.

      Furthermore, the board members proposed by the Board of Directors were all re-elected or elected, ref. item 4 of the agenda.

      Item 5 of the agenda was discussed and approved as presented.

      PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab was re-appointed as auditor of the company, ref. item 6 of the agenda.

      In relation to item 7.1 of the agenda, the proposal was discussed and approved. The company’s articles of association will consequently be amended to the effect that the Board of Directors can consist of five to ten members. In this connection, the wording for Article 8(1) will be as follows:

      ”The Company shall be managed by a Board of Directors composed of five to ten members elected by the General Meeting. In addition, the Board of Directors shall include such members as are elected by the employees under the relevant provisions of the Danish Companies Act. Board members elected by the shareholders in the General Meeting shall retire at the following Annual General Meeting. However, such Board members shall be eligible for re-election.”

      Ref. item 7.2 of the agenda, the Board of Directors was authorised to let the company acquire treasury shares in the period until the next Annual General Meeting. After such acquisition, Vestas’ combined portfolio of treasury shares must not exceed 10 per cent of the share capital.

      After the Annual General Meeting, the Board of Directors held a statutory board meeting. At the meeting Bert Nordberg was elected as Chairman of the Board and Lars Josefsson was elected as Deputy Chairman of the Board.

      Any questions may be addressed to the Executive Management at Vestas Wind Systems A/S, tel. +45 9730 0000.

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      11:10 - 12 Mar 2012

      Vestas receives 396 MW order in Mexico

      Vestas has received a firm and unconditional order for 132 V90-3.0 MW turbines for Mexico.

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      Vestas has received a firm and unconditional order for 132 V90-3.0 MW turbines for Mexico.

      Additional information about the project

      Customer: Mareña Renovables (a consortium comprising: Macquarie Mexican Infrastructure Fund; Mitsubishi Corporation and PGGM).
      Project name: Mareña Renovables project
      Location/Country: The state of Oaxaca, “Isthmus of Tehuantepec” region, Mexico.
      Number of MW: 396 MW Number of turbines/turbine type: 132 x V90-3.0 MW wind turbines
      Contract type: Turnkey Contract scope: The contract includes civil and electrical works, supply, installation and commissioning of the wind turbines, a VestasOnline® Business SCADA system, as well as a 10-year service and maintenance agreement including the Active Output Management package ‘AOM 5000’. Time of delivery: Delivery of the turbines will start in the second quarter of 2012.

      Total year-to-date announced order intake in MW: 865 MW.

      Contact details

      Vestas Wind Systems A/S, Denmark
      Lars Villadsen
      Senior Vice President, Investor Relations
      Tel.: +45 9730 0000

      Juan Araluce
      Chief Sales Officer, Vestas Wind Systems A/S, Denmark
      Acting President, Vestas Mediterranean, Spain

      For more information and/or to arrange an interview with Juan Araluce, please contact:
      Maria J. Vázquez
      Communications, Vestas Mediterranean, Spain
      Tel.:+34 91 362 82 00

      A news release from Vestas Mediterranean regarding the above-mentioned order will also be published on vestas.com under “News”.

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      12:25 - 09 Mar 2012

      Share based incentive programme 2012

      Share based incentive programme 2012

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      Share based incentive programme 2012

      The Board of Directors of Vestas Wind Systems A/S has decided to continue the share option programme and make a new launch for 2012 based on the terms and conditions governing the incentive programme 2010 to 2012 as set out in the board meeting held on 26 October 2009.

      The programme includes the Executive Management, all Executive Vice Presidents, Group Senior Vice Presidents, Senior Vice Presidents, Vice Presidents, Chief Specialists and Chief Project Managers in all business units as well as Vestas Wind Systems A/S. The programme for 2012 includes 330 participants.

      The number of options allotted to each participant is based on the amount of options granted to the different management levels in the 2010 programme. The total present value calculated in accordance with the Black-Scholes model amounts to DKK 26m. A total of 1,004,723 options will be issued, and the number of options allotted would be 100,262 options for the Executive Management and 904,461 options for the other participating executives.

      The exercise price for the options is determined by the Nomination & Compensation Committee at the average stock exchange quotation price on the NASDAQ OMX Copenhagen (all transactions) in the period 9 to 20 January 2012. The exercise price is DKK 60.66. The exercise price of the share options is adjusted for any dividend paid at a later stage. The allotment for 2012 will take place in connection with the Board of Directors’ approval of the company’s annual report for 2012.

      The options may be exercised no earlier than three years after the allotment, i.e. from 2016, and will normally lapse if they have not been exercised by the end of 2017 the latest. If the participants terminate their employment themselves before the earliest time of exercise, the options will lapse. As for the Executive Management, Executive Vice Presidents and Group Senior Vice Presidents, they must for a period of three years after exercise of the options hold shares in the company corresponding to 50 per cent of the profit gained by the participants after deduction of calculated tax.

      The number of options allotted under the programme will appear from the annual report for 2012.

      As for information regarding the existing option programmes, reference is made to note 32 in the annual report for 2011.

      Contact details

      Vestas Wind Systems A/S, Denmark
      Bent Erik Carlsen
      Chairman of the Board or Lars Villadsen, Senior Vice President, Investor Relations
      Tel.: +45 9730 0000

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      12:20 - 07 Mar 2012

      Vestas receives 82 MW order in Poland

      Vestas has received a firm and unconditional order for 82 MW in Poland.

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      Vestas has received a firm and unconditional order for 82 MW in Poland.

      Additional information about the project 

      Customer: Iberdrola Engineering and Construction Poland Sp. z o.o.
      Project name: Marszewo project
      Location/Country: Marszewo, north-west of Słupsk/Zajaczkowo, Poland
      Number of MW: 82 MW
      Number of turbines/turbine type: 22 x V80-2.0 MW turbines, 19 x V90-2.0 MW turbines
      Contract type: Supply-and-installation
      Contract scope: The contract includes supply, installation and commissioning of the turbines, a VestasOnline® Business SCADA solution as well as a three-year service and maintenance agreement (AOM 4000).
      Time of delivery: Delivery of the turbines is scheduled to start at the end of 2012 and to be completed in 2013.

      Total year-to-date announced order intake in MW: 469 MW.

      Contact details

      Vestas Wind Systems A/S, Denmark
      Lars Villadsen
      Senior Vice President, Investor Relations
      Tel.: +45 9730 0000

      Vestas Northern Europe, Sweden
      Klaus Steen Mortensen
      President
      Tel.: +46 40 376 700

      A news release from Vestas Northern Europe regarding the above-mentioned order will also be published on vestas.com under “News”.

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      00:40 - 01 Mar 2012

      Convening for the Annual General Meeting of Vestas

      To the shareholders of Vestas Wind Systems A/S

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      To the shareholders of Vestas Wind Systems A/S

      Pursuant to Article 4 of the Articles of Association, you are hereby convened for the Annual General Meeting of Vestas Wind Systems A/S on Thursday, 29 March 2012 at 2:00 p.m. (CET) at the Concert Hall (Musikhuset) Aarhus, Thomas Jensens Allé, 8000 Aarhus C, Denmark.

      Attachments:
      The agenda for the Annual General Meeting of Vestas Wind Systems A/S
      Vestas' shareholder information 1/2012

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      16:20 - 27 Feb 2012

      Vestas receives 102 MW order in the USA

      Vestas has received a firm and unconditional order for 102 MW in the USA.

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      Vestas has received a firm and unconditional order for 102 MW in the USA.

      Additional information about the project

      Customer: At the customer’s request, details concerning the customer are undisclosed.

      Project name: At the customer’s request, details concerning the project are undisclosed.

      Location/Country: USA

      Number of MW: 102 MW

      Number of turbines/turbine type(s): At the customer’s request, details concerning the number of turbines and turbine types are undisclosed.

      Contract type: Supply-only

      Contract scope: Supply and commissioning of the wind turbines, a VestasOnline® Business SCADA system as well as a five-year service and maintenance agreement.

      Time of delivery: Second half of 2012

      Total year-to-date announced order intake in MW: 387 MW.

      Contact details

      Vestas Wind Systems A/S, Denmark
      Lars Villadsen
      Senior Specialist, Investor Relations
      Tel.: +45 9730 0000

      Vestas-American Wind Technology, Inc., USA
      Martha Wyrsch
      President

      Andrew Longeteig
      Communications, USA,
      Tel.: +1 503 327 7479

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      17:55 - 21 Feb 2012

      Vestas receives 150 MW order in the USA

      Vestas has received a firm and unconditional order for 150 MW in the USA.

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      Vestas has received a firm and unconditional order for 150 MW in the USA.

      Additional information about the project

      Customer: At the customer’s request, details concerning the customer are undisclosed
      Project name: At the customer’s request, details concerning the project are undisclosed
      Location/Country: USA
      Number of MW: 150 MW
      Number of turbines/turbine type(s): At the customer’s request, details concerning the number of turbines and turbine types are undisclosed
      Contract type: Supply-only
      Contract scope: Supply and commissioning of the wind turbines, a VestasOnline® Business SCADA system as well as a five-year service and maintenance agreement
      Time of delivery: Second half of 2012

      Total year-to-date announced order intake in MW: 285 MW.

      Contact details

      Vestas Wind Systems A/S, Denmark
      Lars Villadsen
      Senior Specialist, Investor Relations
      Tel.: +45 9730 0000

      Vestas-American Wind Technology, Inc., USA
      Martha Wyrsch
      President

      Andrew Longeteig
      Communications, USA
      Tel.: +1 503 327 7479

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      13:25 - 16 Feb 2012

      Election of members to the Board of Directors

      Election of members to the Board of Directors

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      Election of members to the Board of Directors

      Reference is made to Vestas Wind Systems A/S company announcement No. 7/2012 of 8 February 2012, which informed that the Vestas chairmanship, Mr Bent Erik Carlsen and Mr Torsten Erik Rasmussen, and board member Mr Freddy Frandsen, will not stand for re-election for the Board of Directors at the Annual General Meeting on 29 March 2012.

      The remaining board members elected by the annual general meeting have all informed the Board that they will stand for re-election.

      The Board has now completed its search process for new Board members and is pleased to inform that it proposes Mr Bert Nordberg, Mr Lars Olof Josefsson and Mrs Eija Pitkänen elected to the Board of Directors of Vestas Wind Systems A/S at the Annual General Meeting on 29 March 2012.

      Mr Nordberg is currently the President and CEO of Sony Ericsson Mobile Communications as well as Executive Vice President in the Ericsson Group. Mr Nordberg brings strong experience from reorganising a global high-tech company with 7,000 employees through a crisis while simultaneously developing the product portfolio and increasing sales volumes.

      Mr Josefsson served as President of Sandvik Mining and Construction, a division of the Sandvik Group, until the end of 2011 and is known for having contributed significantly to growing a heavy industrials company into an undisputed global market leader with exceptional customer focus and results.

      Mrs Pitkänen currently serves as Vice President, Head of Corporate Responsibility, at Telia Sonera. She has been a frontrunner in developing global sustainability in several international companies

      Following the Annual General Meeting, and assuming that that they are elected, the Board expects to appoint Mr Nordberg as Chairman and Mr Josefsson as Deputy Chairman of the Board of Directors.

      (Extended biographies for the proposed candidates can be found in the attached pdf).

      The Board of Directors finds that the proposed candidates represent broad international business management experience and believes that the candidates will provide a strong and diverse skillset to the Board of Vestas Wind Systems A/S.

      Contact details

      Vestas Wind Systems A/S, Denmark
      Bent Erik Carlsen
      Chairman of the Board of Directors

      via Kristian Skipper Pedersen
      Tel.: +45 4161 0344 


      Biographies for the proposed candidates for the Board of Directors

      - see attached pdf.

      Download pdf

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      03:45 - 08 Feb 2012

      Annual report 2011

      2011 was a tough year with two profit warnings

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      2011 was a tough year with two profit warnings

      Summary

      2011 was a very challenging year for the wind industry. The same applies to Vestas which had to issue two profit warnings and abandon its Triple15 targets. In 2011, Vestas recorded revenue of EUR 5.8bn and an EBIT margin before special items of (0.7) per cent, slightly below the preliminary financial figures for 2011 announced on 3 January 2012 due to later-than-expected deliveries.

      The results and revenue for the year are, however, substantially lower than the original expectations of an EBIT margin of 7 per cent and revenue of EUR 7bn, which is disappointing. It should be emphasised that the projects in questions have not been cancelled but postponed and that they are expected to be handed over and recognised as income in 2012, however, at a lower contribution margin due to higher costs than originally anticipated.

      On the other hand, the intake of firm and unconditional orders of 7,397 MW with a value of EUR 7.3bn, was in line with expectations.

      Net working capital amounted to EUR (71)m, an improvement of EUR 743m. The improvement was attributable especially to the reduction of component inventories following a successful make-to-order implementation, higher pre-payments and trade payables.

      Outlook

      Based on, among other things, input from a number of the company’s large shareholders, Vestas has decided to reduce the number of outlook parameters it provides to the public. Furthermore, Vestas has decided to introduce guidance ranges for earnings (EBIT), revenue and the free cash flow to take into account the heavy fluctuations characterising these items depending on timing of order intake, production, shipments and final delivery to the customers.

      For 2012, Vestas expects to achieve an EBIT margin of between 0-4 per cent and revenue of EUR 6,500-8,000m, including service revenue, which is expected to rise to approx EUR 850m with an EBIT margin of around 14 per cent. The EBIT margin will be adversely affected primarily by too high production costs for the V112-3.0 MW turbine and the GridStreamer™ technology, which will be reduced in the course of the year and by an expected increase in depreciation and amortisation charges of approx EUR 100m. Total warranty and product provisions are expected to account for less than 3 per cent of the expected revenue for the year.

      Shipments which are expected to increase to approx 7 GW with the present production plans will peak in the middle of the year, while deliveries may fluctuate heavily over the quarters. It should be emphasised that Vestas’ accounting policies only allow it to recognise ”supply-only” and ”supply-and-installation” projects as income when the risk has finally passed to the customer, irrespective of whether Vestas has already produced, shipped and installed the turbines. Disruptions in production and challenges in relation to wind turbine installation, for example bad weather, lack of grid connections and similar matters may thus cause delays that could affect Vestas’ financial results for 2012.

      Total investments are expected to be EUR 550m, of which investments in intangible assets are expected to amount to EUR 350m, which among other things, includes higher investments in the development of the V164-7.0 MW offshore turbine. Total research and development expenditure is now expected to amount to EUR 450m in 2012. The lower investments in intangible assets and R&D expenditure are caused by a more focused R&D organisation.

      The free cash flow is expected to positive in 2012.

      Press and analyst meeting in Aarhus, Denmark
      Wednesday, 8 February 2012 at 2 p.m. (CET).

      In connection with the disclosure of this annual report, an information meeting will be held today, Wednesday at 2 p.m. (CET) for analysts, investors and the media at:

      Vestas Wind Systems A/S
      Hedeager 44
      8200 Aarhus N
      Denmark

      Further details at www.vestas.com/investor.

      Any questions may be addressed to Ditlev Engel, President and CEO or to Lars Villadsen, Senior Specialist, Investor Relations, telephone +45 9730 4593. 

      Company announcement No. 8/2012
      Track record as of 31 December 2011

      Download: Annual report 2011

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      03:30 - 08 Feb 2012

      Election of members to the Board of Vestas Wind Systems A/S

      Election of members to the Board of Vestas Wind Systems A/S

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      Election of members to the Board of Vestas Wind Systems A/S

      At Vestas Wind Systems A/S’ board meeting discussing the annual report for 2011, the chairmanship, Bent Erik Carlsen and Torsten Erik Rasmussen, informed the Board that they will not stand for re-election for the Board of Directors at the Annual General Meeting on 29 March 2012.

      Furthermore, board member, Freddy Frandsen, informed the Board that he will not stand for re-election.

      The remaining board members elected by the annual general meeting have all informed the Board that they will stand for re-election.

      Contact details

      Vestas Wind Systems A/S, Denmark
      Bent Erik Carlsen
      Chairman of the Board of Directors

      via Kristian Skipper-Pedersen
      Tel.: +45 4161 0344

      Download pdf

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      21:20 - 07 Feb 2012

      Change in the Executive Management of Vestas

      Change in the Executive Management of Vestas

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      Change in the Executive Management of Vestas

      The Board of Directors of Vestas Wind Systems A/S has today received a thorough briefing on the conditions which during the last months have led to profit warnings. As a consequence of this, CFO and Deputy CEO, Henrik Nørremark resigns.

      Contact details

      Vestas Wind Systems A/S, Denmark
      Bent Erik Carlsen
      Chairman of the Board of Directors

      via Kristian Skipper-Pedersen
      Tel.: +45 4161 0344

      Download pdf

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      09:50 - 07 Feb 2012

      Major shareholder announcement – Capital Research and Management Company

      Major shareholder announcement – Capital Research and Management Company

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      Major shareholder announcement – Capital Research and Management Company

      Vestas has been informed that Capital Research and Management Company (CRMC), a 100 per cent owned subsidiary of The Capital Group Companies, Inc. (CGC), USA has reduced their holding of Vestas shares from 10,651,072 shares (ref. company announcement No. 37/2010 of 28 September 2010) to 10,143,805 (4.98 per cent).

      Contact details

      Vestas Wind Systems A/S, Denmark
      Lars Villadsen
      Senior Specialist, Investor Relations
      Telephone +45 9730 0000

      Download pdf

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      12:50 - 16 Jan 2012

      Information in the market regarding offshore project in Belgium

      Information in the market regarding offshore project in Belgium

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      Information in the market regarding offshore project in Belgium

      Today there is information in the market regarding a 216 MW offshore project in Belgium.

      Vestas can confirm that Northwind NV and Vestas have signed a conditional contract for the Northwind offshore wind farm project in Belgium. As soon as the contract becomes firm and unconditional, Vestas will immediately thereafter make a company announcement concerning this.

      Vestas discloses this announcement based on Vestas’ obligation as a Danish listed company, ref. the Securities Trading Act, section 27(2).

      Contact details

      Vestas Wind Systems A/S, Denmark
      Lars Villadsen
      Senior Specialist, Investor Relations
      Tel.: +45 9730 0000

      Download pdf

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      08:20 - 12 Jan 2012

      Vestas reorganises to increase customer focus and earnings and to reduce investments

      Vestas reorganises to increase customer focus and earnings and to reduce investments required for future growth

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      Vestas reorganises to increase customer focus and earnings and to reduce investments required for future growth

      Summary

      • Vestas will reduce its fixed costs by more than EUR 150m – with full effect as from the end of 2012 – primarily through streamlining of support functions and closing of factories to align capacity with market demand. A total of 2,335 employees are expected to be made redundant.
      • The reorganisation will make Vestas an even more inclusive organisation. Executive Management is extended to six members to allow greater functional focus on all key parts of the value chain and to drive a stronger performance management.
      • A Global Solution and Services unit will contribute to improving the performance of both existing and upcoming wind power plants and accelerate the development of the services and solution business.
      • Manufacturing is consolidated to capture cost synergies and reduce capital required for future growth as well as to increase flexibility in case of a prolonged industry slowdown.
      • In addition to the planned layoffs of 2,335 employees in the coming months, Vestas prepares for a potential slowdown in the US in case the present Production Tax Credit (PTC) is not extended. This can result in lay off of an additional 1,600 employees at plants in the US. The potential savings in this respect will be in addition to the more than EUR 150m mentioned above.

      Attachments: 
      News release No. 1
      News release No. 2

      Download pdf

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      12:05 - 06 Jan 2012

      Information in the market regarding project in Kenya

      Information in the market regarding project in Kenya

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      Information in the market regarding project in Kenya

      Today there is information in the market regarding a 310 MW project in Kenya.

      Vestas can confirm that Lake Turkana Wind Power (LTWP) and Vestas have signed a conditional order for the Lake Turkana Wind Power project in Kenya. As soon as the order becomes firm and unconditional, Vestas will immediately thereafter make a company announcement concerning this.

      Vestas discloses this announcement based on Vestas’ obligation as a Danish listed company, ref. the Securities Trading Act, section 27(2).

      Contact details

      Vestas Wind Systems A/S, Denmark
      Peter W. Kruse
      Senior Vice President, Group Communications
      Tel.: +45 9730 0000

      Download pdf

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      18:00 - 03 Jan 2012

      Preliminary financial highlights for the financial year 2011

      Preliminary financial highlights for the financial year 2011

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      Peliminary financial highlights for the financial year 2011

      Summary

      Based on the first reported figures concerning Vestas’ level of activity as per 31 December 2011, which have not yet been consolidated and reviewed, the below preliminary financial highlights for the financial year 2011 can be disclosed. Some of the figures may also be affected by the final exchange rate statement. The annual report for 2011 will be presented on 8 February 2012:

      • Order intake for 2011 amounted to 7.4 GW at a total value of approx EUR 7.3bn. The forecast was 7-8 GW.
      • Preliminary statements of Vestas’ cash at bank and in hand indicate that Vestas still expects to realise a positive free cash flow in 2011, in spite of the fact that shipments amounted to 5.1 GW compared to previous expectations of 5.5 GW. Together with order intake, shipments are the most important factors for cash flow generation.
      • Revenue of approx EUR 400m with an EBIT of approx EUR 130m is expected to be deferred from 2011 to the first quarter of 2012 due to delays in transfer of risk from Vestas to the customers.
      • Costs are expected to be approx EUR 125m higher than expected, of which EUR 100m is predominantly related to the development costs for industrialisation of the V112-3.0 MW turbine, the GridStreamer technology for the 2 MW platform and the higher-than-expected product costs.
      • As a consequence of the deferred revenue and earnings as well as the higher-than-expected costs, revenue for 2011 is now expected to amount to approx EUR 6bn and the EBIT margin to approx 0 per cent.
      • During the fourth quarter of 2011, Vestas expects to generate revenue of approx EUR 2.2bn and an EBIT of approx EUR 85m.
        The earlier mentioned commissioning problems at the generator factory in Travemünde, Germany, have been brought under control and are being solved. They are not expected to have a negative effect on operations in 2012.
      • The preparation of the implementation of the new organisation is progressing faster than originally expected. Accordingly, the significant change of the whole organisation will now be presented on Thursday, 12 January 2012. At the same day, a press meeting will be held at 2 pm CET at the Radisson Blu Royal Hotel in Copenhagen, Denmark.

      The figures mentioned in this company announcement, will be finally confirmed in connection with the disclosure of the annual report for 2011 on 8 February 2012.

      Conference call

      In continuation of this announcement, a conference call for analysts, investors and the media will be held today, on 3 January 2012 at 6.30 pm CET.

      President and CEO, Ditlev Engel, and Executive Vice President and CFO, Henrik Nørremark, will present the main elements of this announcement. The conference call will then be open for questions.

      The conference call will be held in English, and the telephone numbers for the conference call are:

      Europe:  +44 845 634 0041
      USA:   +1 718 354 1226
      Denmark: +45 70 26 50 40

      A replay will subsequently be available at one of the following numbers: +44 20 7769 6425 or +45 7025 2100 – Conference code: 6435 145#. 

      For the full announcement, see attached pdf.

      Download pdf

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    • 11:20 - 30 Dec 2011

      Vestas’ financial calendar 2012

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      The Vestas Group's financial calendar for 2012 is as follows

       

      8 February 2012  Disclosure of annual report 2011 and more detailed guidance for 2012 
      15 February 2012  Deadline for the company’s shareholders to claim a certain subject be included in the agenda for the annual general meeting.
      The claim must be sent to the Board of Directors in writing. 
      1 March 2012  Convening for annual general meeting
      29 March 2012  Annual general meeting in Aarhus, Denmark 
      2 May 2012  Disclosure of interim financial report for Q1 2012 
      22 August 2012  Disclosure of interim financial report for H1 2012 
      7 November 2012  Disclosure of interim financial report for Q3 2012

      Contact details

      Vestas Wind Systems A/S, Denmark
      Peter W. Kruse
      Senior Vice President, Group Communications
      Tel.: +45 9730 0000

      Attachment: Vestas’ financial calendar 2012

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      11:05 - 30 Dec 2011

      Vestas receives 69 MW order for Sweden

      Vestas has received a firm and unconditional order for 23 V112-3.0 MW wind turbines to Sweden.

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      Vestas has received a firm and unconditional order for 23 V112-3.0 MW wind turbines to Sweden.

      Additional information about the project

      Customer: Arise Windpower AB and Platina Partners LLP
      Project name: Jädraås
      Location/Country: Jädraås, Sweden
      Number of MW: 69 MW
      Number of turbines/turbine type: 23 x V112-3.0 MW turbines
      Contract type: Supply-and-installation
      Contract scope: The contract includes supply, installation, commissioning of the turbines and a 15-year Active Output Management service agreement.
      Time of delivery: The project is scheduled to be completed in the very beginning of 2013.

      Total year-to-date announced order intake in MW: 6,004 MW, (see www.vestas.com/investor).

      Contact details

      Vestas Wind Systems A/S, Denmark
      Peter Kruse
      Senior Vice President, Group Communications
      Tel.: +45 9730 0000

      Vestas Northern Europe, Sweden
      Klaus Steen Mortensen
      President
      Tel.: +46 40 376 700

      A news release from Vestas Northern Europe regarding the above-mentioned order will also be published on vestas.com under “News”.

      Attachment: Vestas receives 69 MW order for Sweden

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      16:50 - 29 Dec 2011

      Vestas receives 254 MW order in Brazil

      Vestas has received a firm and unconditional order for 127 V100-2.0 MW wind turbines for Brazil.

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      Vestas has received a firm and unconditional order for 127 V100-2.0 MW wind turbines for Brazil.

      Additional information about the project

      Customer: CPFL Renováveis
      Project name: Campos dos Ventos and São Benedito
      Location/Country: Rio Grande do Norte in Brazil
      Number of MW: 254 MW
      Number of turbines/turbine type: 127 x V100-2.0 MW wind turbines
      Contract type: Supply-and-installation
      Contract scope: The contract includes supply, installation and commissioning of the turbines as well as a VestasOnline® Business SCADA system and a ten-year service contract with an AOM 4000 solution.
      Time of delivery: Delivery of the turbines is scheduled to start in the first half of 2013 with completion estimated for the first half of 2014.

      Total year-to-date announced order intake in MW: 5,935 MW, (see www.vestas.com/investor).

      Contact details

      Vestas Wind Systems A/S, Denmark
      Peter Kruse
      Senior Vice President, Group Communications
      Tel.: +45 9730 0000

      Vestas Mediterranean, Spain
      Juan Araluce
      President

      For more information and/or to arrange an interview with Juan Araluce, please contact:

      Maria J. Vázquez
      Communications, Vestas Mediterranean, Spain
      Tel.:+34 91 362 82 00

      A news release from Vestas Mediterranean regarding the above-mentioned order will also be published on vestas.com under “News”.

      Attachment: Vestas receives 254 MW order in Brazil

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      08:30 - 12 Dec 2011

      Vestas receives 96 MW order in Sweden

      Vestas has received a firm and unconditional order for 32 V112-3.0 MW wind turbines for Sweden.

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      Vestas has received a firm and unconditional order for 32 V112-3.0 MW wind turbines for Sweden.

      Additional information about the project

      Customer: Stena Renewable AB
      Project name: Lemnhult project
      Location/Country: Vetlanda municipality, Sweden
      Number of MW: 96 MW
      Number of turbines/turbine type: 32 x V112-3.0 MW turbines
      Contract type: Supply-and-installation
      Contract scope: The contract includes supply, installation and commissioning of the turbines as well as a 15-year full scope service and maintenance agreement, AOM 5000.
      Time of delivery: Delivery and installation of the turbines will begin in August 2012 and the project is scheduled to be completed in April 2013.

      Total year-to-date announced order intake in MW: 5,629 MW, (see www.vestas.com/investor).

      Contact details

      Vestas Wind Systems A/S, Denmark
      Peter Kruse
      Senior Vice President, Group Communications
      Tel.: +45 9730 0000

      Vestas Northern Europe
      Klaus Steen Mortensen
      President

      For more information and/or to arrange an interview with Klaus Steen Mortensen, please contact:

      Ulrika Hotopp
      Tel: +46 405 569 62

      A news release from Vestas Northern Europe regarding the above-mentioned order will also be published on vestas.com under “News”.

      Attachment: Vestas receives 96 MW order in Sweden

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      12:50 - 08 Dec 2011

      Information in the market regarding projects in South Africa

      Information in the market regarding projects in South Africa

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      Information in the market regarding projects in South Africa

      Today, there is information in the market regarding Vestas being appointed preferred supplier to two projects in South Africa.

      Vestas can confirm we have been appointed preferred supplier to two projects in South Africa with a total capacity of 138 MW. If the further negotiations between the developers and Vestas will result in firm and unconditional orders, Vestas will make a company announcement immediately thereafter.

      Vestas discloses this announcement based on Vestas’ obligation as a Danish listed company, ref. the Securities Trading Act, section 27(2).

      Contact details

      Vestas Wind Systems A/S, Denmark
      Peter W. Kruse
      Senior Vice President, Group Communications
      Tel.: +45 9730 0000

      Attachment: Information in the market regarding projects in South Africa

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      23:45 - 05 Dec 2011

      Vestas receives 168 MW order in Australia

      Vestas has received a firm and unconditional order for 56 units of the V90-3.0 MW wind turbine for Australia.

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      Vestas has received a firm and unconditional order for 56 units of the V90-3.0 MW wind turbine for Australia.

      Additional information about the project

      Customer: Hydro Tasmania
      Project name: Musselroe Wind Farm
      Location/Country: Tasmania, Australia
      Number of MW: 168 MW
      Number of turbines/turbine type: 56 units of the V90-3.0 MW wind turbine.
      Contract type: Supply-and-installation
      Contract scope: The contract comprises supply, installation and commissioning of the turbines, including a VestasOnline® Business SCADA solution and a ten-year service agreement.
      Time of delivery: Delivery of the wind turbines will begin during the fourth quarter of 2012 and the project is expected completed by June 2013.

      Total year-to-date announced order intake in MW: 5,533 MW, (see www.vestas.com/investor).

      Contact details

      Vestas Wind Systems A/S, Denmark
      Peter Kruse
      Senior Vice President, Group Communications
      Tel.: +45 9730 0000

      Vestas Asia Pacific, Singapore
      Sean Sutton
      President

      For more information and/or to arrange an interview with Sean Sutton, please contact:

      Maran G Krishnan
      Tel: +65 6303 6553

      A news release from Vestas Asia Pacific regarding the above-mentioned order will also be published on vestas.com under “News”.

      Attachment: Vestas receives 168 MW order in Australia

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      08:45 - 15 Nov 2011

      Vestas receives orders for 139 MW in the USA

      Vestas has received firm and unconditional orders for two wind power plants in the USA.

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      Vestas has received firm and unconditional orders for two wind power plants in the USA.

      Additional information about the project

      Customer: First Wind, USA
      Project name: Palouse Wind project and Bull Hill wind power plant
      Location/Country: Whitman County, Washington, USA and Hancock County, Maine, USA, respectively
      Number of MW: 138.6 MW
      Number of turbines/turbine type: 77 x V100-1.8 MW turbines
      Contract type: Supply-and-installation
      Contract scope: Both contracts include delivery and commissioning along with a 10-year service and maintenance agreement.
      Time of delivery: Deliveries for both projects are scheduled for mid-2012, and both projects are expected to be commissioned in late 2012.

      Total year-to-date announced order intake in MW: 5,213 MW, (see www.vestas.com/investor).

      Contact details

      Vestas Wind Systems A/S, Denmark
      Peter Kruse
      Senior Vice President, Group Communications
      Tel.: +45 9730 0000

      Vestas-American Wind Technology, USA
      Martha Wyrsch
      President

      For more information and/or to arrange an interview with Martha Wyrsch, please contact:

      Andrew Longeteig
      Communications, Vestas-American Wind Technology, USA
      Tel.: +1 503 327 7479

      A news release from Vestas Vestas-American Wind Technology regarding the above-mentioned orders will also be published on vestas.com under “News”.

      Attachment: Vestas receives orders for 139 MW in the USA

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      08:30 - 09 Nov 2011

      Interim financial report for the third quarter of 2011

      Triple15 abandoned. Strongly improved cash flow and reduced debt. Vestas adjusts to 2012 and 2013.

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      Triple15 abandoned. Strongly improved cash flow and reduced debt. Vestas adjusts to 2012 and 2013.

      Vestas generated revenue of EUR 3,798m in the first nine months of 2011, which was in line with the year-earlier period. EBIT declined by EUR 136m to EUR (84)m. The EBIT margin was (2.2) per cent. The free cash flow improved significantly to EUR (218)m from EUR (878)m in the first nine months of 2010. The net debt at 30 September 2011 amounted to EUR 834m; a decline of EUR 237m during the quarter. The intake of firm and unconditional orders was 4,211 MW in the first nine months of 2011 and the backlog of firm and unconditional orders amounted to EUR 8.0bn at 30 September 2011. Safety at Vestas’ workplaces improved once again, and the share of renewable energy amounted to 35 per cent.

      Vestas retains the guidance for 2011 announced on 30 October 2011. Due to the expected weak economic growth in the OECD area, Vestas does not expect to be able to reach the earlier announced Triple15 ambition of EUR 15bn in revenue and an EBIT margin of 15 per cent in 2015. In the medium term, Vestas aims to realise a high single-digit EBIT margin with a normalised US market and at the same time, increase its market share. Revenue in the service business is expected to grow faster than the sale of wind power plants.

      In connection with the presentation of the annual report for 2011, Vestas will change and adjust its organisation in order to reduce fixed costs and allocate more resources to direct customer-oriented activities in individual markets. A still more global Vestas will contribute to boost Vestas' competitive strength in 2012 and, especially, in 2013, which could prove a very challenging year due to the potential expiry of the Production Tax Credit (PTC) scheme in the USA.

      Press and analyst meeting today

      - Please note changed time

      For analysts, investors and the media, an information meeting will be held today,

      Wednesday, at 12 p.m. London time/1 p.m. CET at
      Vestas Wind Systems A/S, Hedeager 44, 8200 Aarhus N, Denmark.

      For practical considerations, please register through ir@vestas.com.

      The information meeting will be held in English and webcast live with simultaneous interpretation into Danish, German, Italian, Spanish and Mandarin via vestas.com/investor.

      The meeting may be attended electronically, and questions may be asked through a conference call.

      The telephone numbers for the conference call are:

      Europe: +44 208 817 9301
      USA: +1 718 354 1226
      Denmark: +45 7026 5040

      A replay of the information meeting will subsequently be available on www.vestas.com/investor.

      Attachment: Interim financial report for the third quarter of 2011

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      09:05 - 07 Nov 2011

      Information in the market regarding offshore order in the Netherlands

      Information in the market regarding offshore order in the Netherlands

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      Information in the market regarding offshore order in the Netherlands

      Today there is information in the market regarding Vestas having been appointed preferred supplier for an offshore project in the Netherlands.

      Vestas can confirm that Eneco has appointed Vestas preferred supplier for an offshore project in the Netherlands. If this will result in a firm and unconditional order, Vestas will make a company announcement immediately thereafter.

      Vestas discloses this announcement based on Vestas’ obligation as a Danish listed company, ref. the Securities Trading Act, section 27(2).

      Contact details

      Vestas Wind Systems A/S, Denmark
      Peter W. Kruse
      Senior Vice President, Group Communications
      Tel.: +45 9730 0000

      Attachment: Information in the market regarding offshore order in the Netherlands

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      21:20 - 30 Oct 2011

      Vestas issues profit warning due to delayed commissioning of new generator factory

      Vestas issues profit warning due to delayed commissioning of new generator factory

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      Vestas issues profit warning due to delayed commissioning of new generator factory

      Vestas issues profit warning due to delayed commissioning of new generator factory

      The commissioning of Vestas’ new generator factory in Travemünde, Germany, is not progressing as planned. In order not to compromise on safety and quality in an already very busy fourth quarter, Vestas has chosen to postpone the handing over of a number of projects, primarily in Europe.

      The changed delivery plans for the remaining part of 2011 imply that the expectations for revenue and EBIT margin are reduced to approx EUR 6,400m and approx 4 per cent, respectively, against the previous expectations of EUR 7,000m and 7 per cent, respectively. The downward adjustment of the EBIT margin is primarily related to the lower volume and consequently the changed product mix as well as consequential costs corresponding to approx EUR 35m in 2011. The consequential costs are primarily attributable to liquidated damages as well as agreements already made in relation to production, transportation and installation.

      For 2011, Vestas still expects an order intake of 7,000-8,000 MW, a positive free cash flow and investments of EUR 850m.

      The aforementioned risks of disruptions in production and not least the practical challenges in relation to installation of turbines during the last months of the year, like for instance weather risks, lack of grid connections and corresponding incidences, may still cause further delays affecting Vestas’ results for 2011.

      Ditlev Engel, President and CEO of Vestas Winds Systems A/S says:
      ”Even though we have previously emphasised the risks involved in the fact that a large proportion of revenue is generated in the latter part of the year, I deeply regret that we have been compelled to take this unsatisfactory decision. I want to stress that safety and quality has top priority in Vestas and a decision to speed up the projects in question would have been irresponsible. The projects will of course be completed during 2012, and it is important also to point out that earnings on the individual projects are still satisfactory.”

      Due to the changed expectations for the full year of 2011, Vestas will hereby exceptionally disclose the preliminary financial highlights for the first nine months of 2011. 

      Preliminary financial highlights for the first nine months of 2011 

      Q3
      20111)

      Q3
      20101)

      9 months
      20111)

      9 months
      20101)

      Full year
      2010

      Revenue (mEUR)

      1,337

      1,916

      3,798

      3,797

      6,920

      EBIT before one-off costs (mEUR)

      (92)

      271

      (84)

      52

      468

      EBIT margin before one-off costs (%)

      (6,9)

      14,1

      (2,2)

      1,4

      6,8

      Profit after tax (mEUR)

      (60)

      187

      (90)

      5

      156

      Cash flow from operating activities (mEUR)

      407

      362

      266

      (345)

      56

      Free cash flow (mEUR)

      276

      180

      (218)

      (878)

      (733)

      1) Neither audited nor reviewed.

      Contact details

      Vestas Wind Systems A/S, Denmark
      Ditlev Engel President and CEO
      Tel.: +45 9730 0000

      Vestas Wind Systems A/S, Denmark
      Peter W. Kruse Senior Vice President, Group Communications
      Tel.: +45 4110 4897

      Disclaimer and cautionary statement

      This document contains forward-looking statements concerning Vestas' financial condition, results of operations and business. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. Forward-looking statements are statements of future expectations that are based on management’s current expectations and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in these statements.

      Forward-looking statements include, among other things, statements concerning Vestas' potential exposure to market risks and statements expressing management’s expectations, beliefs, estimates, forecasts, projections and assumptions. There are a number of factors that could affect Vestas' future operations and could cause Vestas' results to differ materially from those expressed in the forward-looking statements included in this document, including (without limitation): (a) changes in demand for Vestas' products; (b) currency and interest rate fluctuations; (c) loss of market share and industry competition; (d) environmental and physical risks; (e) legislative, fiscal and regulatory developments, including changes in tax or accounting policies; (f) economic and financial market conditions in various countries and regions; (g) political risks, including the risks of expropriation and renegotiation of the terms of contracts with governmental entities, and delays or advancements in the approval of projects; (h) ability to enforce patents; (i) product development risks; (j) cost of commodities; (k) customer credit risks; and (l) supply of components.

      All forward-looking statements contained in this document are expressly qualified by the cautionary statements contained or referenced to in this statement. Undue reliance should not be placed on forward-looking statements. Additional factors that may affect future results are contained in Vestas' annual report for the year ended 31 December 2010 (available at www.vestas.com/investor) and these factors also should be considered. Each forward-looking statement speaks only as of the date of this document. Vestas does not undertake any obligation to publicly update or revise any forward-looking statement as a result of new information or future events others than required by Danish law. In light of these risks, results could differ materially from those stated, implied or inferred from the forward-looking statements contained in this document.

      Attachment: Vestas issues profit warning due to delayed commissioning of new generator factory

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      08:30 - 28 Oct 2011

      Vestas receives 267 MW offshore order

      Vestas has received a firm and unconditional order for a total of 267 MW for offshore projects in Sweden and the UK, respectively.

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      Vestas has received a firm and unconditional order for a total of 267 MW for offshore projects in Sweden and the UK, respectively.

      Additional information about the project

      Customer: E.ON Climate & Renewables GmbH
      Project name: At the customer’s request, additional details about the projects cannot be disclosed.
      Location/Country: Sweden and the UK.
      Number of MW: 267 MW
      Number of turbines/turbine type: 89 x V112-3.0 MW offshore turbines
      Contract type: Supply-and-installation
      Contract scope: The contract includes supply, installation and commissioning of the turbines as well as a five-year service and maintenance agreement.
      Time of delivery: Installation is expected to take place between 2013 and 2014.

      Total year-to-date announced order intake in MW: 4,495 MW, (see www.vestas.com/investor).

      Contact details

      Vestas Wind Systems A/S, Denmark
      Peter Kruse
      Senior Vice President, Group Communications
      Tel.: +45 9730 0000

      Vestas Offshore, Denmark
      Anders Søe-Jensen
      President

      For more information and/or to arrange an interview with Anders Søe-Jensen, please contact:

      Rikke Tikjøb Christiansen
      Vice President, Communications
      Tel.: +45 4083 7583

      Attachment: Vestas receives 267 MW offshore order

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      11:40 - 18 Oct 2011

      Vestas receives 101 MW order in the USA

      Vestas has received a firm and unconditional order for 101 MW for Michigan, USA.

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      Vestas has received a firm and unconditional order for 101 MW for Michigan, USA.

      Additional information about the project

      Customer: Consumers Energy
      Project name: Lake Winds Energy Park
      Location/Country: Mason County, Michigan, USA
      Number of MW: 100.8 MW
      Number of turbines/turbine type: 56 x V100-1.8 MW turbines
      Contract type: Supply-only
      Contract scope: The contract includes delivery of the turbines.
      Time of delivery: Delivery and commissioning are scheduled for 2012.

      Total year-to-date announced order intake in MW: 4,204 MW, (see www.vestas.com/investor).

      Contact details

      Vestas Wind Systems A/S, Denmark
      Peter Kruse
      Senior Vice President, Group Communications
      Tel.: +45 9730 0000

      Vestas-American Wind Technology, Inc., USA
      Martha Wyrsch
      President

      For more information and/or to arrange an interview with Martha Wyrsch, please contact:

      Andrew Longeteig
      Communications, Vestas-American Wind Technology, Inc., USA
      Tel.: +1 503 327 7479

      A news release from Vestas-American Wind Technology, Inc. regarding the above-mentioned order will also be published on vestas.com under “News”.

      Attachment: Vestas receives 101 MW order in the USA

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      10:55 - 14 Oct 2011

      Vestas receives 178 MW order in Ontario, Canada

      Vestas has received a firm and unconditional order for 99 V90-1.8 MW wind turbines for Ontario, Canada.

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      Vestas has received a firm and unconditional order for 99 V90-1.8 MW wind turbines for Ontario, Canada.

      Additional information about the project

      Customer: At the customer’s request, additional details about the customer cannot be disclosed.
      Project name: At the customer’s request, additional details about the project cannot be disclosed.
      Location/Country: Ontario, Canada
      Number of MW: 178.2 MW
      Number of turbines/turbine type: 99 x V90-1.8 MW wind turbines
      Contract type: Supply-only
      Contract scope: Supply and commissioning of the wind turbines, as well as a five-year service and maintenance agreement.
      Time of delivery: Delivery is scheduled for mid-2012 and commissioning is expected in late 2012.

      Total year-to-date announced order intake in MW: 4,103 MW, (see www.vestas.com/investor).

      Contact details

      Vestas Wind Systems A/S, Denmark
      Peter Kruse, Senior Vice President, Group Communications
      Tel.: +45 9730 0000

      Vestas-Canadian Wind Technology, Inc., Canada
      Martha Wyrsch, President

      For more information and/or to arrange an interview with Martha Wyrsch, please contact:
      Andrew Longeteig, Communications, Vestas-American Wind Technology Inc., USA
      Tel.: +1 503 327 7479

      A news release from Vestas-Canadian Wind Technology regarding the above-mentioned order will also be published on vestas.com under “News.”

      Attachment: Vestas receives 178 MW order in Ontario, Canada

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      10:15 - 13 Oct 2011

      Vestas receives 99 MW order in Texas, USA

      Vestas has received a firm and unconditional order for 55 V100-1.8 MW wind turbines for Texas, USA.

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      Vestas has received a firm and unconditional order for 55 V100-1.8 MW wind turbines for Texas, USA.

      Additional information about the project

      Customer: E.ON Climate and Renewables North America, LLC
      Project name: Anacacho wind-energy project
      Location/Country: Texas, USA
      Number of MW: 99 MW
      Number of turbines/turbine type: 55 x V100-1.8 MW wind turbines
      Contract type: Supply-only
      Contract scope: Supply and commissioning of the wind turbines, Vestas’ Active Output Management (AOM) 4000 maintenance program including the VestasOnline® Business SCADA system as well as a five-year service and maintenance agreement.
      Time of delivery: Delivery is scheduled for mid-2012 and commissioning is expected in late 2012.

      Total year-to-date announced order intake in MW: 3,925 MW, (see www.vestas.com/investor).

      Contact details

      Vestas Wind Systems A/S, Denmark
      Peter Kruse, Senior Vice President, Group Communications
      Tel.: +45 9730 0000

      Vestas-American Wind Technology, Inc., USA
      Martha Wyrsch, President

      For more information and/or to arrange an interview with Martha Wyrsch, please contact:
      Andrew Longeteig, Communications, Vestas-American Wind Technology Inc., USA
      Tel.: +1 503 327 7479

      A news release from Vestas-American Wind Technology, Inc. regarding the above-mentioned order will also be published on vestas.com under “News.”

       

      Attachment: Vestas receives 99 MW order in Texas, USA

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      12:00 - 06 Oct 2011

      Vestas’ V112-3.0 MW reaches important milestone

      - First GW of orders already secured

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      - First GW of orders already secured

      With a series of orders from customers around the world, the V112-3.0 MW turbine has already won more than 1 GW of firm and unconditional orders since it was released for sale about one year ago.

      Over the last year, more than 30 customers have chosen the V112-3.0 MW turbine. The size of the orders ranges from one turbine to the largest V112 order so far i.e. the 420 MW Macarthur project in Australia.

      “We are very pleased to reach this important milestone. After only one year following the launch of the V112-3.0 MW turbine, the turbine leads customer demand among new turbines released since 2010 in its class and target markets,” says Ditlev Engel, President and CEO of Vestas Wind Systems A/S. “Several MWs of additional V112 orders are in the pipeline, which demonstrates strong customer commitment to Vestas and to the V112-3.0 MW turbine.”

      The V112-3.0 MW provides exceptional yield for customers, thanks to its world-class testing, its design for outstanding serviceability and its compliance with even the strictest grid codes in the world. Having won industry prizes for Vestas like the Zayed Future Energy Prize as well as the Asian Future Power Award, this turbine confirms Vestas’ relentless efforts to ensure our customers get the lowest Cost of Energy and highest possible Business Case Certainty.

      For more information please go to www.vestas.com/1GW or contact:

      Vestas Wind Systems A/S, Denmark
      Peter Wenzel Kruse
      Senior Vice President, Group Communications
      Tel.: +45 9730 5150

      Attachment: Vestas’ V112-3.0 MW reaches important milestone

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      08:30 - 06 Oct 2011

      Vestas receives 129 MW order in Sweden

      Vestas has received a firm and unconditional order for 43 units of the V112-3.0 MW turbine for Sweden.

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      Vestas has received a firm and unconditional order for 43 units of the V112-3.0 MW turbine for Sweden.

      Additional information about the project

      Customer: Arise Windpower AB and Platina Partners LLP
      Project name: Jädraås
      Location/Country: Jädraås, Sweden
      Number of MW: 129 MW
      Number of turbines/turbine type: 43 x V112-3.0 MW turbines
      Contract type: Supply-and-installation
      Contract scope: The contract includes supply, installation, commissioning of the turbines and a 15-year Active Output Management service agreement.
      Time of delivery: The project is scheduled to be completed in November 2012.

      Total year-to-date announced order intake in MW: 3,761 MW.

      Contact details

      Vestas Wind Systems A/S, Denmark
      Peter Kruse, Senior Vice President, Group Communications
      Tel.: +45 9730 0000

      Vestas Northern Europe, Sweden
      Klaus Steen Mortensen, President
      Tel.: +46 40 376 700

      A news release from Vestas Northern Europe regarding the above-mentioned order will also be published on vestas.com under “News”.

      Attachment: Vestas receives 129 MW order in Sweden

      Close article
      08:30 - 17 Aug 2011

      Interim financial report, first half year 2011

      Outlook maintained - profit in line with expectations - safety improved once again.

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      Outlook maintained - profit in line with expectations - safety improved once again.

      Summary

      Vestas generated first half-year revenue of EUR 2,461m; an increase of 31 per cent on the first half of 2010. EBIT amounted to EUR 8m, against a loss of EUR 219m in the first half of 2010. The EBIT margin thus rose to 0.3 per cent from (11.6) per cent. The free cash flow improved significantly to EUR (494)m from EUR (1,058)m in the first half of 2010. The half-year intake of firm and unconditional orders was 2,895 MW, and the backlog of firm and unconditional orders amounted to EUR 8.0bn at 30 June 2011. Safety at Vestas’ workplaces was higher than ever before with an incidence of industrial injuries of 3.2. Renewable energy accounted for 32 per cent of Vestas’ total energy consumption in the half-year. Firm and unconditional orders covering almost all the expected revenue of EUR 7bn for 2011 have already been secured, which is why the outlook for revenue, EBIT margin and the free cash flow is maintained at EUR 7bn, 7 per cent and a minimum of EUR 0, respectively. In spite of the macro-economic and financial uncertainty, Vestas still expects an intake of firm and unconditional orders of 7,000-8,000 MW in a market that remains fiercely competitive.

      Attachment: Interim financial report, first half year 2011

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      08:45 - 15 Aug 2011

      Vestas receives 202 MW order in the USA

      Vestas has received a firm and unconditional order for 112 V100-1.8 MW wind turbines for the USA.

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      Vestas has received a firm and unconditional order for 112 V100-1.8 MW wind turbines for the USA.

      Additional information about the project

      Customer: E.ON Climate and Renewables North America, LLC
      Project name: At the customer’s request, additional details about the project cannot be disclosed.
      Location/Country: USA
      Number of MW: 201.6
      Number of turbines/turbine type: 112 x V100-1.8 MW wind turbines
      Contract type: Supply-only
      Contract scope: Supply and commissioning of the wind turbines, a VestasOnline® Business SCADA system as well as a five-year service and maintenance agreement.
      Time of delivery: First half of 2012

      Contact details

      Vestas Wind Systems A/S, Denmark
      Peter Kruse, Senior Vice President, Group Communications
      Tel.: +45 9730 0000

      Vestas-American Wind Technology, Inc., USA
      Martha Wyrsch, President

      For more information and/or to arrange an interview with Martha Wyrsch, please contact:
      Andrew Longeteig, Communications, Vestas-American Wind Technology Inc., USA, Tel.: +1 503 327 7479

      A news release from Vestas regarding the above-mentioned order will also be published on vestas.com under “News.”

       

      Attachment: Vestas receives 202 MW order in the USA

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      15:15 - 09 Aug 2011

      Vestas receives 92 MW order in Spain

      Vestas has received a firm and unconditional order for two projects in Spain with a total capacity of 92 MW.

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      Vestas has received a firm and unconditional order for two projects in Spain with a total capacity of 92 MW.

      Additional information about the project

      Customer: VAPAT
      Project name: Brulles and Los Zapateros
      Location/Country: Burgos, Spain
      Number of MW: 92 MW
      Number of turbines/turbine type: 46 x V90-2.0 MW turbines
      Contract type: Turnkey, including civil and electrical works
      Contract scope: The contract includes supply, installation and commissioning of the turbines, a VestasOnline® Business SCADA system and a 12-year service agreement including the Active Output Management package ‘AOM4000’ for both wind projects.
      Time of delivery: Delivery of the turbines is scheduled to start in Q3 2011 and the projects are expected to be completed in Q1 2012.

      Contact details

      Vestas Wind Systems A/S, Denmark
      Peter Kruse, Senior Vice President, Group Communications
      Tel.: +45 9730 0000

      Vestas Mediterranean, Spain
      Juan Araluce, President

      For more information and/or to arrange an interview with Juan Araluce, please contact:
      Maria J. Vázquez, Communications, Vestas Mediterranean, Spain
      Tel.:+34 91 362 80 00

      A news release from Vestas Mediterranean regarding the above-mentioned order will also be published on vestas.com under “News”.

      Attachment: Vestas receives 92 MW order in Spain

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      15:55 - 26 Jul 2011

      Vestas receives 92 MW order in Asia Pacific

      Vestas has received a firm and unconditional order for 51 units of the V100-1.8 MW wind turbine in Asia Pacific.

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      Vestas has received a firm and unconditional order for 51 units of the V100-1.8 MW wind turbine in Asia Pacific.

      Additional information about the project

      Customer: At the customer’s request, additional details about the customer cannot be disclosed.
      Project name/location: At the customer’s request, additional details about the project cannot be disclosed.
      Number of MW: 92 MW
      Number of turbines/turbine type: 51 x V100-1.8 MW turbines
      Contract type: Turnkey
      Contract scope: The contract comprises supply, installation and commissioning of the turbines, a VestasOnline® Business SCADA system as well as a 15-year service and maintenance agreement.
      Time of delivery: Delivery is scheduled to start during the third quarter of 2011, and the project will be completed during the fourth quarter of 2011.

      Contact details

      Vestas Wind Systems A/S, Denmark
      Peter Kruse, Senior Vice President, Group Communications
      Tel.: +45 9730 0000

      Vestas Asia Pacific, Singapore
      Sean Sutton, President

      For more information and/or to arrange an interview with Sean Sutton, please contact:
      Maran G Krishnan, Head of Communications, Vestas Asia Pacific
      Tel: +65 6303 6553

      Attachment: Vestas receives 92 MW order in Asia Pacific

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      12:25 - 15 Jul 2011

      Vestas receives 90 MW order in Brazil

      Vestas has received a firm and unconditional order for 90 MW for projects in Brazil.

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      Vestas has received a firm and unconditional order for 90 MW for projects in Brazil.

      Additional information about the project

      Customer: The consortium created by Brennand Energia and Companhia Hidro Elétrica do São Francisco (CHESF)
      Project name: São Pedro do Lago Pedra Branca Sete Gameleiras
      Location/Country: Bahia, Brazil
      Number of MW: 90 MW
      Number of turbines/turbine types: 10 x V90-3.0 MW turbines, 30 x V100-2.0 MW turbines
      Contract type: Supply-and-Installation
      Contract scope: The contract includes supply, installation and commissioning of the turbines, a VestasOnline® Business SCADA system and a 10-year Service Contract with the AOM 5000 solution.
      Time of delivery: Delivery of the turbines is expected to start in the first half of 2012, and the project is expected to be commercially operational in December 2012.

      Contact details

      Vestas Wind Systems A/S, Denmark
      Peter Kruse, Senior Vice President, Group Communications
      Tel.: +45 9730 0000

      Vestas Mediterranean, Spain
      Juan Araluce, President
      Tel.: +34 93 241 98 00

      For more information and/or to arrange an interview with Juan Araluce, please contact:
      Maria J. Vázquez, Communications, Vestas Mediterranean, Spain
      Tel.:+34 91 362 80 00

      A news release from Vestas Mediterranean regarding the above-mentioned order will also be published on vestas.com under “News”.

      Attachment: Vestas receives 90 MW order in Brazil

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      13:05 - 08 Jul 2011

      Information in the market regarding order in the USA

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      Today, there is information in the market regarding a 100 MW order in the USA.

      Vestas can confirm that Consumers Energy and Vestas have signed a conditional order for a 100 MW project in the USA, As soon as the order becomes firm and unconditional, Vestas will immediately thereafter make a company announcement concerning the order.

      Vestas discloses this announcement based on Vestas’ obligation as a Danish listed company, ref. the Securities Trading Act, section 27(2).

      Contact details

      Vestas Wind Systems A/S, Denmark
      Peter W. Kruse, Senior Vice President, Group Communications
      Tel.: +45 9730 0000

      Attachment: Information in the market regarding order in the USA

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      08:40 - 05 Jul 2011

      Information in the market regarding 180 MW frame agreement in Sweden

      Today, there is information in the market regarding Vestas signing a 180 MW frame agreement in Sweden.

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      Today, there is information in the market regarding Vestas signing a 180 MW frame agreement in Sweden.

      Vestas can confirm that Eolus Vind AB and Vestas have signed a frame agreement for 180 MW in Sweden. When the individual orders within the frame agreement become firm and unconditional and if the size of the individual orders qualifies to be announced as company announcements, Vestas will immediately thereafter make a company announcement concerning this.

      Vestas discloses this announcement based on Vestas’ obligation as a Danish listed company, ref. the Securities Trading Act, section 27(2).

      Contact details

      Vestas Wind Systems A/S, Denmark
      Peter W. Kruse, Senior Vice President, Group Communications
      Tel.: +45 9730 0000

      Attachment: Information in the market regarding 180 MW frame agreement in Sweden

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      13:45 - 01 Jul 2011

      Vestas receives 60 MW order in Brazil

      Vestas has received a firm and unconditional order for 60 MW for projects in Brazil.

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      Vestas has received a firm and unconditional order for 60 MW for projects in Brazil.

      Additional information about the project

      Customer: Atlantic Energias Renováveis S.A.
      Project name: Renascenca V and Eurus II
      Location/Country: Rio Grande du Norte, Brazil
      Number of MW: 60 MW
      Number of turbines/turbine type: 30 x V100-2.0 MW turbines
      Contract type: Supply-and-Installation
      Contract scope: The contract includes supply, installation and commissioning of the turbines, a VestasOnline® Business SCADA system and a five-year service and maintenance agreement with the Active Output Management package, AOM 5000.
      Time of delivery: Delivery of the turbines is scheduled to start in Q4 2012, with completion estimated for Q3 2013.

      Contact details

      Vestas Wind Systems A/S, Denmark
      Peter Kruse, Senior Vice President, Group Communications
      Tel.: +45 9730 0000

      Vestas Mediterranean, Spain
      Juan Araluce, President

      For more information and/or to arrange an interview with Juan Araluce, please contact:
      Maria J. Vázquez, Communications Manager, Vestas Mediterranean, Spain
      Tel.:+34 91 362 80 00

      A news release from Vestas Mediterranean regarding the above-mentioned order will also be published on vestas.com under “News”.

      Attachment: Vestas receives 60 MW order in Brazil

      Close article
      20:45 - 30 Jun 2011

      EDF Energies Nouvelles and Vestas enter frame agreement

      EDF Energies Nouvelles will purchase a minimum of 50 per cent of all its future onshore wind installations in Europe and a minimum of 30 per cent of all its future onshore wind installations in the US from Vestas for deliveries in 2012 to 2014 .

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      EDF Energies Nouvelles will purchase a minimum of 50 per cent of all its future onshore wind installations in Europe and a minimum of 30 per cent of all its future onshore wind installations in the US from Vestas for deliveries in 2012 to 2014 .

      By the agreement, EDF Energies Nouvelles, a leader in renewable energy, has committed to purchase from Vestas wind turbines for a minimum of 50 per cent of all its future onshore wind installations in Europe and a minimum of 30 per cent of all its future onshore wind installations in the United States for deliveries in 2012 to 2014. Furthermore, today Vestas reaches firm and unconditional orders within this agreement for a total capacity of 180 MW.

      The binding share of wallet agreement for the years 2012-2014 is with EDF Energies Nouvelles (EDF EN), its European affiliates and the US subsidiary, enXco. EDF EN is one of the major players in the generation of wind power and renewable energy worldwide.

      The agreement also includes a VestasOnline® Business SCADA system and contemplates the option of establishing several schemes of service and maintenance contracts in different countries in close partnership with EDF EN.

      Through this frame agreement, EDF EN will further develop with Vestas their business activities in countries such as France, Italy and Greece, and will start new operations with Vestas in the USA, the UK, Germany and Poland as well as in several emerging markets.

      EDF EN has selected Vestas due to its global extensive experience in siting, installation, technical operational support and service of wind power plants in all markets where EDF EN operates, as well as for its broad product portfolio, ranging from the V52-850 kW turbine to the recently launched V112-3.0 MW model.

      Moreover, Vestas signed today a firm and unconditional order within this frame agreement for a total capacity of 80 MW in Europe. In addition, we can now also disclose that the 100 MW for projects in Europe mentioned in Vestas’ company announcement No. 42/2010 of 8 November 2010 have also been included in this frame agreement bringing the capacity within this agreement to 180 MW for projects in Europe. As per the customer’s request, further details of the projects cannot be disclosed.

      Ditlev Engel, President and CEO of Vestas Wind Systems A/S, adds: “It is an important chapter in the history of Vestas and wind power, when a major world-wide player like EDF EN signs up an agreement of this volume proving that today wind power is mainstream. This share of wallet agreement is expected to have a potential of up to 2,000 MW or more for Vestas. The frame agreement is the result of a close collaboration and a strong relationship between EDF EN and Vestas, and I would like to thank EDF EN for their trust in our technology, our employees and our capabilities and my colleagues for their hard work and commitment to make this happen.”

      David Corchia, Chief Executive Officer of EDF Energies Nouvelles, comments: “This agreement is the result of a thorough consultation and negotiation process with several global manufacturers. The competitiveness of Vestas’ products, its extensive range and its high-quality services made the difference.”

      He concludes: “I am delighted as this partnership will strengthen the relationship of trust that our two groups have built over nearly 10 years. In addition, it gives us both the visibility we need in order to pursue our respective developments. There is no doubt that this is a major and crucial deal that will enable us to provide competitive renewable energy solutions.”

      Juan Araluce, President of Vestas Mediterranean, says: “We are very pleased to announce the signing of this frame agreement with EDF EN. EDF EN is part of one of the largest utilities in the world and Vestas is the largest global wind technology and service provider. It is natural that EDF EN is a key account for Vestas and we have maintained a close business relationship for such a long time. Both companies are driven by the same mission – to further develop wind power around the globe and to make it an even more competitive and reliable source of energy.”

      He concludes: “At Vestas, we always explore new opportunities for collaboration with EDF EN and we are continuously looking into how we can better support EDF EN in the development, expansion and profitability of their wind business. This frame agreement is a clear example of this. We look forward to continuing working with EDF EN in the many exciting projects around the world.”

      The above order does not affect Vestas’ expectations for 2011, ref. company announcement No. 18/2011 of 4 May 2011.

      Contact details

      Juan Araluce y Martínez de Azagra
      President
      Vestas Mediterranean, Spain

      Peter Wenzel Kruse
      Senior Vice President of Group Communications
      Vestas Wind Systems A/S, Denmark
      Tel.: +45 9730 0000

      For more information and to arrange interviews, please contact:

      Michael Holm (for Danish and international media)
      Tel.: +45 9730 3236
      Mobile: 45 4083 6698

      Maria J. Vazquez (for media in the Mediterranean region)
      Tel.: +34 91 362 80 00
      Mobile: +34 610 52 69 12

      About Vestas

      Vestas is a global company with more than 30 years of expertise and know-how in the field of wind power. With an installed base of more than 43,000 turbines or 44,000 MW distributed on 66 countries, Vestas is the world leading and most committed supplier of wind power solutions. Vestas has a workforce of around 22,000 highly skilled and fully committed employees all around the world. To learn more about Vestas, please visit: www.vestas.com.

      About EDF Energies Nouvelles

      With operations in Europe and North America, EDF Energies Nouvelles is a market leader in green electricity production. With a development focused on wind energy for several years and more recently on solar photovoltaic, the Group is also present in other segments of the renewable energies market: small hydro, marine energy, biomass, biofuel and biogas. In addition, the Group is expanding in the distributed renewable energies sector. EDF Energies Nouvelles is a subsidiary of the EDF Group. For more information, please visit www.edf-energies-nouvelles.com.

      Attachment: EDF Energies Nouvelles and Vestas enter frame agreement

      Close article
      12:40 - 22 Jun 2011

      New syndicated facility well received by the loan market

      Vestas Wind Systems A/S has signed a new EUR 1.3bn revolving credit Facility.

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      Vestas Wind Systems A/S has signed a new EUR 1.3bn revolving credit Facility.

      Vestas Wind Systems A/S has signed a new EUR 1.3bn revolving credit facility. The new facility is a five-year facility with an option to extend it for up to another two years (5+1+1). Nine international banks participated in the transaction with Commerzbank AG and DnB NOR Bank ASA as joint Co-ordinators and Bookrunners. The facility is for general corporate purposes and will be replacing an existing syndicated facility maturing in June 2012.

      “We came to the market with a EUR 1.2bn facility reflecting that the projects are becoming increasingly bigger and with that also the potential fluctuation in working capital. However, due to the strong demand from the invited group of relationship banks, we decided to increase the facility. The particular structure of the facility (5+1+1) is something that is normally reserved for companies with an A rating or better,” says Henrik Hald Hellmuth, Senior Vice President, Group Treasurer, and continues: “We have managed to both increase the size of the facility and to extend its tenor, and for that reason we are very grateful for the strong support, which we for many years have received from our core banking group. We feel that with the new syndicate and our considerable existing bilateral facilities, Vestas is very well covered both geographically and product-wise."

      As part of the strengthening of the financial competencies, Vestas’ Group Treasury department will relocate to Zurich, Switzerland, to get even closer to the international financial market.

      The above does not affect Vestas’ expectations for 2011, ref. company announcement No. 18/2011 of 4 May 2011.

      Contact details

      Vestas Wind Systems A/S, Denmark
      Henrik Hald Hellmuth, Senior Vice President, Group Treasurer
      Tel. +45 9730 0000

      Attachment: New syndicated facility well received by the loan market

      Close article
      08:30 - 20 Jun 2011

      Vestas receives 78 MW order in Sweden

      Vestas has received a firm and unconditional order for 30 units of the new V100-2.6 MW turbine.

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      Vestas has received a firm and unconditional order for 30 units of the new V100-2.6 MW turbine.

      Additional information about the project

      Customer: Sjisjka Vind AB.
      Project name: Sjisjka wind park.
      Location/Country: Gällivare, Sweden.
      Number of MW: 78 MW.
      Number of turbines/turbine type: 30 x V100-2.6 MW.
      Contract type: Supply and installation.
      Contract scope: The contract includes supply, installation and commissioning of the turbines, a VestasOnline® Business SCADA system and a five-year Active Operational Management (AOM) 5000 service agreement.
      Time of delivery: Commissioning is planned for the summer and autumn of 2012 with handover completed during the first part of the fourth quarter 2012.

      Contact details

      Vestas Wind Systems A/S, Denmark
      Peter Kruse, Senior Vice President, Group Communications
      Tel.: +45 9730 0000

      Vestas Northern Europe, Sweden
      Klaus Steen Mortensen, President
      Tel.: +46 40 37 67 00


      A news release from Vestas Northern Europe regarding the above-mentioned order will also be published on vestas.com under “News”.

      Attachment: Vestas receives 78 MW order in Sweden

      Close article
      14:20 - 09 Jun 2011

      Rumours in the market regarding order in Canada

      Rumours in the market regarding order in Canada

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      Rumours in the market regarding order in Canada

      Today there are rumours in the market regarding a 300 MW order in Canada.

      Vestas can confirm that negotiations between Greengate Power Corporation and Vestas are ongoing, but Vestas has not yet received a firm and unconditional order for the project. If the negotiations between the customer and Vestas will result in a firm and unconditional order, Vestas will make a company announcement immediately thereafter.

      Vestas discloses this announcement based on Vestas’ obligation as a Danish listed company.

      Contact details

      Vestas Wind Systems A/S, Denmark
      Peter W. Kruse, Senior Vice President, Group Communications
      Tel.: +45 9730 0000

      Attachment: Rumours in the market regarding order in Canada

      Close article
      14:00 - 30 May 2011

      Vestas receives 149 MW order in Canada

      Vestas has received a firm and unconditional order for 83 V90-1.8 MW wind turbines in Canada.

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      Vestas has received a firm and unconditional order for 83 V90-1.8 MW wind turbines in Canada.

      Additional information about the project

      Customer: At the customer’s request, additional details about the customer cannot be disclosed.
      Project name: At the customer’s request, additional details about the project cannot be disclosed.
      Location/Country: Canada
      Number of MW: 149.4 MW
      Number of turbines/turbine type: 83 x V90-1.8 MW wind turbines
      Contract type: Supply-only Contract scope: Delivery and commissioning of the wind turbines, a VestasOnline® Business SCADA system as well as a 10-year service and maintenance agreement.
      Time of delivery: Delivery is scheduled for autumn 2012 and commissioning is expected by the end of 2012.

      Contact details

      Vestas Wind Systems A/S, Denmark
      Peter Kruse, Senior Vice President, Group Communications
      Tel.: +45 9730 0000

      Vestas-American Wind Technology, USA
      Martha Wyrsch, President

      For more information and/or to arrange an interview with Martha Wyrsch, please contact:
      Andrew Longeteig, Communications, Vestas-American Wind Technology, USA
      Tel.: +1 503 327 7479

      A news release from Vestas-American Wind Technology regarding the above-mentioned order will also be published on vestas.com under “News”.

      Attachment: Vestas receives 149 MW order in Canada

      Close article
      08:15 - 27 May 2011

      Vestas receives 219 MW order in California, USA

      Vestas has received a firm and unconditional order for 73 V90-3.0 MW wind turbines from Terra-Gen Power, LLC, USA.

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      Vestas has received a firm and unconditional order for 73 V90-3.0 MW wind turbines from Terra-Gen Power, LLC, USA.

      Additional information about the project

      Customer: Subsidiaries of Alta Wind Holdings, LLC, a wholly-owned subsidiary of Terra-Gen Power, LLC.
      Project name: Alta Wind Energy Center.
      Location/Country: Near Tehachapi, California, USA.
      Number of MW: 219 MW Number of turbines/turbine type(s): 73 V90-3.0 MW turbines.
      Contract type: Supply-only.
      Contract scope: The contract includes delivery and commissioning together with a five-year service and maintenance agreement for a total of 300 MW (inclusive of service agreement for 81 MW sold in 2010).
      Time of delivery: Delivery is scheduled for the autumn 2011 and commissioning is expected in late 2011.

      Contact details

      Vestas Wind Systems A/S, Denmark
      Peter Kruse, Senior Vice President, Group Communications
      Tel.: +45 9730 0000

      Vestas-American Wind Technology, Inc., USA
      Martha Wyrsch, President

      For more information and/or to arrange an interview with Martha Wyrsch, please contact:
      Andrew Longeteig, Communications, Vestas-American Wind Technology, Inc., USA
      Tel.: +1 503 327 7479

      A news release from Vestas-American Wind Technology, Inc. regarding the above-mentioned order will also be published on vestas.com under “News”.

      Attachment: Vestas receives 219 MW order in California, USA

      Close article
      16:25 - 24 May 2011

      Rumours in the market regarding order in India

      Today there are rumours in the market regarding a 92 MW order in India.

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      Today there are rumours in the market regarding a 92 MW order in India.

      Vestas can confirm that negotiations between GP Wind and Vestas are ongoing, but Vestas has not yet received a firm and unconditional order for the project. If the negotiations between the customer and Vestas will result in a firm and unconditional order, Vestas will make a company announcement immediately thereafter.

      Vestas discloses this announcement based on Vestas’ obligation as a Danish listed company.

      Contact details

      Vestas Wind Systems A/S, Denmark
      Peter W. Kruse, Senior Vice President, Group Communications
      Tel.: +45 9730 0000

      Attachment: Rumours in the market regarding order in India

      Close article
      23:20 - 18 May 2011

      Vestas receives 200 MW order in the USA

      Vestas has received a firm and unconditional order for 111 V90-1.8 MW turbines for a wind-energy project in the USA.

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      Vestas has received a firm and unconditional order for 111 V90-1.8 MW turbines for a wind-energy project in the USA.

      Additional information about the project

      Customer: Enel Green Power North America, Inc.
      Project name: Caney River wind-energy project
      Location/Country: Elk County, Kansas, USA
      Number of MW: 199.8 MW
      Number of turbines/turbine type: 111 V90-1.8 MW turbines
      Contract type: Supply-only
      Contract scope: The contract includes delivery and commissioning along with a five-year service and maintenance agreement.
      Time of delivery: Delivery is scheduled for the second half of 2011 and commissioning is expected in late 2011.

      Contact details

      Vestas Wind Systems A/S, Denmark
      Peter Kruse, Senior Vice President, Group Communications
      Tel.: +45 9730 0000

      Vestas-American Wind Technology, Inc., USA
      Martha Wyrsch, President

      For more information and/or to arrange an interview with Martha Wyrsch, please contact:
      Andrew Longeteig, Communications, Vestas-American Wind Technology, Inc., USA
      Tel.: +1 503 327 7479

      A news release from Vestas-American Wind Technology, Inc. regarding the above-mentioned order will also be published on vestas.com under “News”.

      Attachment: Vestas receives 200 MW order in the USA

      Close article
      09:25 - 13 May 2011

      Vestas receives 80 MW order in Brazil

      Vestas has received a firm and unconditional order for 80 MW to Brazil.

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      Vestas has received a firm and unconditional order for 80 MW to Brazil.

      Additional information about the project

      Customer: Galvao Energia
      Project name: Olho D´Agua, Sao Bento do Norte Farol
      Location/Country: Rio Grande do Norte, Brazil
      Number of MW: 80 MW
      Number of turbines/turbine type: 40 x 2 MW platform turbines
      Contract type: Supply and Installation
      Contract scope: The contract includes supply, installation and commissioning of the turbines, a VestasOnline® Business SCADA system and a 10 year AOM 4000 Service Contract.
      Time of delivery: Delivery of the turbines is scheduled to start in Q3 2012, with completion estimated for December 2012.

      Contact details

      Vestas Wind Systems A/S, Denmark
      Peter Kruse, Senior Vice President, Group Communications
      Tel.: +45 9730 0000

      Vestas Mediterranean, Spain
      Juan Araluce, President
      Tel.: +34 93 241 98 00

      For more information and/or to arrange an interview with Juan Araluce, please contact:
      Maria J. Vázquez, Communications Manager, Vestas Mediterranean, Spain
      Tel.:+34 91 362 80 00, e-mail: communication@vestas.com

      A news release from Vestas Mediterranean regarding the above-mentioned order will also be published on vestas.com under “News”.

      Attachment: Vestas receives 80 MW order in Brazil

      Close article
      11:30 - 11 May 2011

      Vestas receives 72 MW order in Turkey

      Vestas has received a firm and unconditional order for 72 MW to Turkey.

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      Vestas has received a firm and unconditional order for 72 MW to Turkey.

      Additional information about the project

      Customer: Aksu Temiz Enerji Elektrik Üretim Sanayi ve Ticaret Anonim Şirketi
      Project name: Aksu
      Location/Country: Kayseri, Turkey
      Number of MW: 72 MW
      Number of turbines/turbine type: 36 x 2 MW platform turbines
      Contract type: Supply and Installation
      Contract scope: The contract includes supply, installation and commissioning of the turbines, a VestasOnline® Business SCADA system and a seven-year AOM 4000 service contract.
      Time of delivery: Delivery of the turbines is scheduled to start in Q2 2011, with completion estimated for Q4 2011.

      Contact details

      Vestas Wind Systems A/S, Denmark
      Peter Kruse, Senior Vice President, Group Communications
      Tel.: +45 9730 0000

      Vestas Mediterranean, Spain
      Juan Araluce, President
      Tel.: +34 93 241 98 00

      For more information and/or to arrange an interview with Juan Araluce, please contact:
      Maria J. Vázquez, Communications Manager, Vestas Mediterranean, Spain
      Tel.:+34 91 362 80 00

      A news release from Vestas Mediterranean regarding the above-mentioned order will also be published on vestas.com under “News”.

      Attachment: Vestas receives 72 MW order in Turkey

      Close article
      08:50 - 06 May 2011

      Vestas receives 102 MW order in California, USA

      Vestas has received a firm and unconditional order for 34 V90-3.0 MW wind turbines for California, USA.

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      Vestas has received a firm and unconditional order for 34 V90-3.0 MW wind turbines for California, USA.

      Additional information about the project

      Customer: Brookfield Renewable Power and Coram California Development Management, LLC
      Project name: Undetermined.
      Location/Country: California, USA
      Number of MW: 102 MW
      Number of turbines/turbine type: 34 x V90-3.0 MW wind turbines.
      Contract type: Supply-only.
      Contract scope: Delivery and commissioning of the wind turbines, a VestasOnline® Business SCADA system as well as a two-year service and maintenance agreement.
      Time of delivery: Delivery is scheduled for second half of 2011 and commissioning is expected by late 2011.

      Contact details

      Vestas Wind Systems A/S, Denmark
      Peter Kruse, Senior Vice President, Group Communications
      Tel.: +45 9730 0000

      Vestas Americas, USA
      Martha Wyrsch, President

      For more information and/or to arrange an interview with Martha Wyrsch, please contact:
      Andrew Longeteig, Communications, Vestas Americas, USA
      Tel.: +1 503 327 7479

      A news release from Vestas Americas regarding the above-mentioned order will also be published on vestas.com under “News”.

      Attachment: Vestas receives 102 MW order in California, USA 

      Close article
      08:30 - 04 May 2011

      Interim financial report, first quarter 2011

      Outlook remains unchanged. Turbine yield improved. Safety strengthened.

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      Outlook remains unchanged. Turbine yield improved. Safety strengthened.

      Summary

      Vestas generated first-quarter revenue of EUR 1,060m, an increase of 25 per cent relative to the first quarter of 2010, and as announced realised a loss. The EBIT margin fell from (4.6) per cent to (6.5) per cent. The development confirms that revenue and earnings may show major quarter-on-quarter fluctuations depending on the capacity utilisation and the type of projects handed over. The first half year of 2011 is expected to break even against an EBIT loss of EUR 219m during the first half year of 2010. The free cash flow was improved compared to the first quarter of 2010 by EUR 116m to EUR (431)m. The first-quarter order intake of 630 MW was lower than expected. The backlog of firm and unconditional orders amounted to EUR 7.2bn at 31 March 2011. Safety at Vestas’ workplaces was improved further, and renewable energy accounted for 31 per cent of Vestas’ total energy consumption in the quarter. Vestas has launched its V164-7.0 MW offshore wind turbine, which, subject to a satisfactory order intake, will be put into serial production from 2015. The outlook for 2011 is retained; an intake of firm and unconditional orders of 7,000-8,000 MW, an EBIT margin of 7 per cent, a positive free cash flow and revenue of EUR 7bn in a market in recovery, but at the same time influenced by fierce competition.

      Press and analyst meeting in New York, USA

      Wednesday, 4 May 2011 at 9 a.m. EST (New York time)/3 p.m. CET
      In connection with the announcement of this interim financial report, an information meeting will be held today, Wednesday, at 9 a.m. EST (New York time)/3 p.m. CET for analysts, investors and the press at the Four Seasons Hotel i New York, USA. Further details on vestas.com/investor.

      Attachment: Interim financial report, first quarter 2011

      Close article
      10:10 - 03 May 2011

      Vestas receives 100 MW order in China

      Vestas has received a firm and unconditional order for 50 V90-2.0 MW wind turbines for China.

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      Vestas has received a firm and unconditional order for 50 V90-2.0 MW wind turbines for China.

      Additional information about the project

      Customer: At the customer’s request, additional details about the customer cannot be disclosed.
      Project name: At the customer’s request, additional details about the project cannot be disclosed.
      Location/Country: Shandong Province, China
      Number of MW: 100 MW Number of turbines/turbine type(s): 50 x V90-2.0 MW wind turbines
      Contract type: Supply-only
      Contract scope: The contract includes supply, installation and commissioning of the turbines and a VestasOnline® Business SCADA system.
      Time of delivery: From Q2 to Q3 2011

      Contact details

      Vestas Wind Systems A/S, Denmark
      Peter Kruse, Senior Vice President, Group Communications
      Tel.: +45 9730 0000

      Vestas China
      Jens Tommerup, President

      For more information and/or to arrange an interview with Jens Tommerup, please contact:

      William Lim, Manager, Communications, Vestas China
      Tel.: +86 10 59232022

      Attachment: Vestas receives 100 MW order in China

      Close article
      14:40 - 26 Apr 2011

      Major shareholder announcement – Central Bank of Norway

      Major shareholder announcement – Central Bank of Norway

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      Major shareholder announcement – Central Bank of Norway

      Vestas has received information from Norges Bank Investment Management, Bankplassen 2, P.O. Box 1179 Sentrum, 0107 Oslo, Norway, that Central Bank of Norway (Norges Bank) as per 20 April 2011 has increased their holding of Vestas shares from 10,164,934 (ref. company announcement No. 14/2011 of 18 April 2011) to 10,200,678 shares (5.01 per cent) and as per 21 April 2011 again has reduced their holding of Vestas shares to 10,150,046 (4.98 per cent).

      Contact details

      Vestas Wind Systems A/S, Denmark
      Peter W Kruse, Senior Vice President, Group Communications
      Telephone +45 9730 0000

      Attachment: Major shareholder announcement – Central Bank of Norway

      Close article
      11:30 - 20 Apr 2011

      Vestas receives 104 MW order in Canada

      Vestas has received a firm and unconditional order for 58 V90-1.8 MW wind turbines for Canada.

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      Vestas has received a firm and unconditional order for 58 V90-1.8 MW wind turbines for Canada.

      Additional information about the project

      Customer / project name: The project name and details about the customer cannot be disclosed.
      Country: Canada
      Number of MW: 104 MW
      Number of turbines/turbine type: 58 x V90-1.8 MW wind turbines
      Contract type: Supply-only
      Contract scope: Delivery and commissioning of the wind turbines, a VestasOnline® Business SCADA system as well as a 10-year service and maintenance agreement.
      Time of delivery: Delivery is scheduled for mid-2012 and commissioning is expected by the fall of 2012.

      Contact details

      Vestas Wind Systems A/S, Denmark
      Peter Kruse, Senior Vice President, Group Communications
      Tel.: +45 9730 0000

      Vestas Americas, USA
      Martha Wyrsch, President

      For more information and/or to arrange an interview with Martha Wyrsch, please contact: Andrew Longeteig, Communications, Vestas Americas, USA - tel.: +1 503 327 7479

      A news release from Vestas Americas regarding the above-mentioned order will also be published on vestas.com under “News”.

      Attachment: Vestas receives 104 MW order in Canada

      Close article
      14:25 - 18 Apr 2011

      Major shareholder announcement – Central Bank of Norway

      Central Bank of Norway has reduced their holding of Vestas shares.

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      Central Bank of Norway has reduced their holding of Vestas shares.

      Vestas has received information from Norges Bank Investment Management, Bankplassen 2, P.O. Box 1179 Sentrum, 0107 Oslo, Norway, that Central Bank of Norway (Norges Bank) as per 15 April 2011 has reduced their holding of Vestas shares from 10,312,779 (ref. company announcement No. 13/2011 of 14 April 2011) to 10,164,934 shares (4.99 per cent).

      Contact details

      Vestas Wind Systems A/S, Denmark
      Peter W Kruse, Senior Vice President, Group Communications
      Telephone +45 9730 0000

      Attachment: Major shareholder announcement – Central Bank of Norway

      Close article
      14:20 - 14 Apr 2011

      Major shareholder announcement – Central Bank of Norway

      Major shareholder announcement – Central Bank of Norway

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      Major shareholder announcement – Central Bank of Norway

      Vestas has received information from Norges Bank Investment Management, Bankplassen 2, P.O. Box 1179 Sentrum, 0107 Oslo, Norway, that Central Bank of Norway (Norges Bank) as per 13 April 2011 has increased their holding of Vestas shares to 10,312,779 shares (5.06 per cent).

      Contact details

      Vestas Wind Systems A/S, Denmark
      Peter W Kruse, Senior Vice President, Group Communications
      Telephone +45 9730 0000

       

      Attachment: Major shareholder announcement – Central Bank of Norway

      Close article
      09:25 - 08 Apr 2011

      Rumours in the market regarding offshore project in Belgium

      Rumours in the market regarding offshore project in Belgium

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      Rumours in the market regarding offshore project in Belgium

      Today there are rumours in the market regarding Vestas being in final negotiations for an offshore project in Belgium.

      Vestas can confirm that negotiations between Eldepasco and Vestas are ongoing, but Vestas has not yet received a firm and unconditional order for the project. If the negotiations between the customer and Vestas will result in a firm and unconditional order, Vestas will make a company announcement immediately thereafter.

      Vestas discloses this announcement based on Vestas’ obligation as a Danish listed company.

      Contact details

      Vestas Wind Systems A/S, Denmark
      Peter W. Kruse, Senior Vice President, Group Communications
      Tel.: +45 9730 0000

      Attachment: Rumours in the market regarding offshore project in Belgium

      Close article
      14:00 - 31 Mar 2011

      Vestas receives 150 MW order in Brazil

      Vestas has received a firm and unconditional order for 150 MW for several projects in Brazil.

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      Vestas has received a firm and unconditional order for 150 MW for several projects in Brazil.

      Additional information about the project

      Customer: Energisa S.A through the companies established for this purpose: Energisa Geração - Central Eólica Ventos de São Miguel S.A., Energisa Geração - Central Eólica Renascença I S.A., Energisa Geração - Central Eólica Renascença II S.A., Energisa Geração - Central Eólica Renascença III S.A. and Energisa Geração - Central Eólica Renascença IV S.A.
      Project names: Ventos de Sao Miguel, Renascença I, Renascença II, Renascença III and Renascença IV
      Location/Country: Rio Grande do Norte, Brazil
      Number of MW: 150 MW
      Number of turbines/turbine type: 75 x 2 MW platform turbines
      Contract type: Supply-and-installation
      Contract scope: The contract includes supply, installation and commissioning of the turbines, a VestasOnline® Business SCADA system and a five-year Service Contract with the AOM 5000 solution.
      Time of delivery: Delivery of the turbines is scheduled to start in Q1 2012, with completion estimated for December 2012.

      Contact details

      Vestas Wind Systems A/S, Denmark
      Peter Kruse, Senior Vice President, Group Communications
      Tel.: +45 9730 0000

      Vestas Mediterranean, Spain
      Juan Araluce, President
      Tel.: +34 93 241 98 00

      For more information and/or to arrange an interview with Juan Araluce, please contact:

      Maria J. Vázquez, Communications Manager, Vestas Mediterranean, Spain
      Tel.: +34 91 362 80 00

      A news release from Vestas Mediterranean regarding the above-mentioned order will also be published on vestas.com under “News”.

      Attachment: Vestas receives 150 MW order in Brazil

      Close article
      13:30 - 30 Mar 2011

      Vestas launches next generation offshore turbine

      Vestas launches next generation offshore turbine

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      Vestas launches next generation offshore turbine

      Today, at a press conference in London at 12.30 local time Vestas reveals the details of its next generation offshore turbine. Instead of the previously communicated capacity of 6.0 MW, the turbine will have a capacity of 7.0 MW and a rotor diameter of 164 metres.

      Construction of the first V164-7.0 MW prototypes is expected in Q4 2012. Serial production is set to begin in Q1 2015 provided a firm order backlog is in place to justify the substantial investment needed to develop the new production and assembly facilities required for a turbine of this size.

      Further details of the new turbine will be uploaded to vestas.com immediately after the press meeting.

      Contact details

      Vestas Wind Systems A/S, Denmark
      Peter W. Kruse, Senior Vice President, Group Communications
      Tel.: +45 9730 0000

      Attachment: Vestas launches next generation offshore turbine

      Close article
      18:20 - 28 Mar 2011

      Vestas Wind Systems A/S’ Annual General Meeting on 28.03.2011

      The Annual General Meeting of Vestas Wind Systems A/S has been held today.

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      The Annual General Meeting of Vestas Wind Systems A/S has been held today.

      Items 1 to 4 of the agenda were discussed and approved as presented. There will be no distribution of dividend for 2010.

      Furthermore, the board members proposed by the Board of Directors were all re-elected or elected, ref. item 5 of the agenda.

      PricewaterhouseCoopers Statsautoriseret Revisionsaktieselskab was re-appointed as auditor of the company, ref. item 6 of the agenda.

      Moreover, item 7.1 of the agenda was discussed and approved.

      In relation to item 7.2 of the agenda, the proposal was discussed and approved. The company’s articles of association will consequently be amended so that the existing authority to the Board of Directors in Article 3(1) to increase the company’s share capital is renewed to apply until 1 May 2015, allowing an increase of the share capital by a total nominal amount of DKK 20,370,410. Furthermore the authorisations in Articles 3(2) and 3(3) regarding issue of employee shares and warrants, respectively, have been deleted.

      The Board of Directors was authorised to let the company purchase treasury shares in the period until the next Annual General Meeting within a total nominal value of 10 per cent of the company’s share capital, ref. item 7.3 of the agenda.

      Proposal received by a shareholder, ref. item 7.4 of the agenda, was discussed, and the proposal was not approved. Vestas will consequently use the test centre in Østerild, Denmark, designated by the Danish Government.

      After the Annual General Meeting, the Board of Directors held a statutory board meeting. At the meeting Bent Erik Carlsen was re-elected as Chairman of the Board and Torsten Erik Rasmussen was re-elected as Deputy Chairman of the Board.

      Any questions may be addressed to the Executive Management at Vestas Wind Systems A/S, tel. +45 9730 0000.

      Yours sincerely
      Vestas Wind Systems A/S


      Bent Erik Carlsen
      Chairman of the Board of Directors

      Attachment: Vestas Wind Systems A/S’ Annual General Meeting on 28.03.2011

      Close article
      08:55 - 21 Mar 2011

      Vestas named as a defendant in a lawsuit in the USA

      Vestas named as a defendant in a lawsuit in the USA

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      Vestas named as a defendant in a lawsuit in the USA

      Along with certain of its directors and officers, Vestas has been named as a defendant in a shareholder class action lawsuit filed in the United States Federal District Court for the District of Colorado concerning among other things the change in accounting policy, ref. company announcement No. 44/2010 of 22 November 2010. The company has reviewed the complaint with its legal and other advisors and believes that the complaint is without merit. The company and the individual defendants intend to defend themselves vigorously.

      Contact details

      Vestas Wind Systems A/S, Denmark
      Peter W Kruse, Senior Vice President, Group Communications
      Tel.: +45 9730 0000

      Attachment: Vestas named as a defendant in a lawsuit in the USA

      Close article
      14:30 - 18 Mar 2011

      Rumours in the market regarding a wind farm project in Mexico

      Today there are rumours in the market regarding a wind farm project in Mexico of almost 400 MW.

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      Today there are rumours in the market regarding a wind farm project in Mexico of almost 400 MW.

      Vestas can confirm that negotiations between the consortium behind the project and Vestas are ongoing, but Vestas has not yet received a firm and unconditional order for the project. If the negotiations between the consortium and Vestas will result in a firm and unconditional order, Vestas will make a company announcement immediately thereafter.

      Vestas discloses this announcement based on Vestas’ obligation as a Danish listed company.

      Contact details

      Vestas Wind Systems A/S, Denmark
      Peter W. Kruse, Senior Vice President, Group Communications
      Tel.: +45 9730 0000

      Attachment: Rumours in the market regarding a wind farm project in Mexico