The will to win
The will to win helps Vestas become "No.1 in Modern Energy". As more fast-growing economies demand sustainable, predictable and clean energy, Vestas solidifies its position as industry leader.
2005 The Will to win
New CEO Ditlev Engel announces the company’s new strategy. “The Will to Win’ lays out Vestas’ determination to make wind a competitive energy source on a par with oil and gas.
It’s not all smooth sailing. Financially, Vestas has a tough year: the weak US dollar and high steel prices squeeze margins and suppliers struggle to deliver on time. Still, there are encouraging signs - and Vestas receives its biggest order to date, from Horizon Wind Energy in the USA.
2006 Vestas in China
Vestas’ blade factory opens in Tianjin – becoming Vestas’ first production facility in China. Even before the official opening, increased demand means that the factory will soon need to double its capacity.
Vestas announced good sales figures, but is still losing money - partly because of repair costs. To resolve the issue, Vestas assembles 80 engineers to work solely on repairs - and Vestas’ share price rises by 10 percent as optimism begins to grow.
2007 Showing willpower
Vestas expands its position as the world’s leading supplier of modern energy solutions. Instilled with the will to succeed, the company never stops working.
Vestas is now installing one wind turbine every four hours somewhere in the world - and in total, the turbines generate more than 50 million MWh of energy per year, enough electricity to supply millions of households.
2008 No.1 in Modern Energy
Vestas realises that it can make wind energy an even more attractive investment. The company is determined to use advanced technology to improve wind energy technology until wind is accepted as a mainstream energy source on a par with oil and gas.
Vestas has its best year ever in 2008, achieving record financial results. An operating profit of EUR 668 million and the creation of 5,524 jobs in 2008 confirm the company’s belief in renewable energy as a source of growth in the future.