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Announcements

Below you will find company announcements from Vestas Wind Systems A/S including financial reports, announcements of major orders, etc., which Vestas has an obligation to disclose.

News releases from Vestas Wind Systems A/S and the local business units are available under Media/News.

 

Current Share Price

465.00 +4.49 %
29 April 2016 17:20 CET
Market cap 94,721 MDKK

Company Announcements

    • 15:00 - 29 Apr 2016

      Disclosure requirement regarding share capital and number of votes as per 29 April 2016

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      As per announcement of 28 April 2016, Vestas Wind Systems A/S has completed a capital reduction of nominal value DKK 2,529,786 representing 2,529,786 shares of DKK 1 nominal value each in connection with cancellation of treasury shares, ref. company announcement No. 15/2016.

      Pursuant to section 10 of Executive Order No. 1258 of 9 November 2015 on Issuers’ Disclosure Obligations, we are pleased to confirm that as per 29 April 2016, Vestas Wind Systems A/S has a share capital of nominal value DKK 221,544,727. The share capital consists of one share class, and each share of DKK 1 carries one vote corresponding to a total number of voting rights of 221,544,727.


      Contact details
      Vestas Wind Systems A/S, Denmark
      Hans Martin Smith, Senior Vice President, Group Treasury and Investor Relations
      Tel: +45 9730 8209

      Download company announcement (PDF)

       

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      09:15 - 29 Apr 2016

      Share-based incentive programme 2016

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      The Board of Directors of Vestas Wind Systems A/S has decided to continue the share-based incentive programme for all participants, including the Executive Management, and make a new launch for 2016 based on the terms and conditions governing the restricted performance share programme for the year 2015, cf. Vestas’ remuneration policy and general guidelines for incentive pay.

      The share-based incentive programme follows the structures of the previous programme and will still be based on restricted performance shares. The programme has a performance period of three years and a performance measurement based on financial key performance indicators as well as the Vestas Group’s market share as defined by the Board of Directors.

      Participants  The Executive Management, Group Senior Vice Presidents, Senior Vice Presidents, Vice Presidents, Chief Specialists and Chief Project Managers in the Vestas Group. The programme for 2016 includes 187 participants.
       
      Number of shares

      The number of shares to be granted is based on a target level for each corporate level. No payments for any grants are made by the participants. If all KPIs are reached on target level, a total of 280,000 shares will be granted from the programme with a total present value calculated based on the current share price amounting to EUR 17m (value at close of Nasdaq Copenhagen on 28 April, 2016). For 2016, the target number of shares for the Executive Management will be 86,000 shares in total.

      The actual number of restricted performance shares available for distribution may range between 0 and 150 percent of the target level and is determined by Vestas’ performance in the financial years 2016, 2017 and 2018. The maximum grant of shares under the programme in total is 420,000 shares based on full performance achievement.

      Time of grant The restricted performance shares are to be granted in two equal portions in 2019 and 2021.
      Key Performance Indicators The KPIs for all three performance years are based on Vestas’ performance on earnings per share (EPS), return on invested capital (ROIC), as well as the Vestas Group’s market share estimated by a predefined, independent,  well-reputed supplier of such data.
      Conditions The restricted performance shares are governed by the specific terms and conditions of the programme and subject to mandatory law. If a participant chooses to leave Vestas before the time of grant, the participant’s rights to receive the shares will generally lapse.
      Adjustments to the programme The number of shares available for grant may be adjusted in the event of changes in Vestas’ capital structure. Further, in the event of a change of control, merger, winding-up or demerger of Vestas, an accelerated grant may extraordinarily take place. In the event of certain transfers of activities or changes in ownership interests within the Vestas Group, adjustment, replacement of the programme and/or settlement in cash of the programme entirely or partly may also take place.

      Contact details
      Vestas Wind Systems A/S, Denmark
      Hans Martin Smith, Senior Vice President, Group Treasury and Investor Relations
      Tel: +45 9730 8209

      Download Company announcement (pdf)

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      08:34 - 29 Apr 2016

      Interim financial report, first quarter 2016

      Earnings improved, while revenue and free cash flow decreased compared to the first quarter of 2015. Strong order intake and backlog at highest level recorded. Outlook for 2016 maintained.

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      Earnings improved, while revenue and free cash flow decreased compared to the first quarter of 2015. Strong order intake and backlog at highest level recorded. Outlook for 2016 maintained.

      Summary: In the first quarter of 2016, Vestas generated revenue of EUR 1,464m – a decrease of 4 percent compared to the year-earlier period. EBIT before special items increased by EUR 6m to EUR 85m. The EBIT margin before special items was 5.8 percent compared to 5.2 percent in the first quarter of 2015 and the free cash flow amounted to EUR (296)m compared to EUR 146m in the first quarter of 2015.

      The intake of firm and unconditional wind turbine orders amounted to 2,403 MW in the first quarter of 2016. The value of the wind turbine order backlog amounted to EUR 8.6bn at 31 March 2016. In addition to the wind turbine order backlog, Vestas had service agreements with contractual future revenue of EUR 9.4bn at the end of March 2016. Thus, the value of the combined backlog of wind turbine orders and service agreements stood at EUR 18.0bn – an increase of EUR 3.0bn compared to the year-earlier period.

      Vestas maintains its 2016 guidance on revenue of minimum EUR 9bn, EBIT margin before special items of minimum 11 percent, total investments of approx EUR 500m (incl. the acquisition of Availon Holding GmbH), and free cash flow of minimum EUR 600m (incl. the acquisition of Availon Holding GmbH). 

      Group President & CEO Anders Runevad said: “Vestas delivered record-high first quarter order intake as well as our largest ever combined wind turbine and service order backlog. EBIT margin also improved, while free cash flow, although at negative levels, was in line with expectations as we build up inventory preparing for a busy remainder of 2016. Full-year guidance remains unchanged”.



      Key highlights

      Record-high Q1 order intake
      Order intake in the quarter reached 2,403 MW.

      Highest combined order backlog ever
      Wind turbine and service order backlog of EUR 18bn.

      Improved earnings
      EBIT margin before special items at 5.8 percent – an improvement of 0.6 percentage points.

      Negative cash flow
      Cash flow impacted by net working capital and service acquisition.

      Information meeting (audiocast)
      Today, Friday 29 April 2016 at 10 a.m. CEST (9 a.m. BST), Vestas will host an information meeting via an audiocast. The audiocast will be accessible via vestas.com/investor.

      The meeting will be held in English and questions may be asked through a conference call. The telephone numbers for the conference call are:

      Europe: +44 203 008 9814
      USA: +1 646 502 5118
      Denmark: +45 3544 5576

      Presentation material for the information meeting will be available approx one hour before the meeting at vestas.com/investor.

      Contact details
      Vestas Wind Systems A/S, Denmark
      Hans Martin Smith, Senior Vice President,
      Group Treasury and Investor Relations
      Tel: +45 9730 8209

      Vestas Wind Systems A/S
      Hedeager 42
      8200 Aarhus N
      Denmark

      Company reg. No.: 10 40 37 82
      Tel: +45 9730 0000
      Fax: +45 9730 0001
      vestas@vestas.com

      Download the interim financial report for Q1 2016

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      12:10 - 28 Apr 2016

      Reduction of share capital in Vestas Wind Systems A/S by cancellation of treasury shares

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      On 30 March 2016, the Annual General Meeting of Vestas Wind Systems A/S adopted the proposal to reduce the Vestas' share capital by DKK 2,529,786 nominally by cancelling 2,529,786 shares from Vestas’ holding of treasury shares. The reduction of the share capital has been completed and registered today.

      After the reduction, Vestas Wind Systems A/S' share capital amounts to DKK 221,544,727 nominally, corresponding to 221,544,727 shares of DKK 1 each.

      Contact details
      Vestas Wind Systems A/S, Denmark
      Hans Martin Smith, Senior Vice President, Group Treasury and Investor Relations
      Tel: +45 9730 8209

      Download company announcement (PDF)

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      08:30 - 28 Apr 2016

      Mitsubishi Heavy Industries Ltd. will not exercise the option to change the ownership ratio of MHI Vestas Offshore Wind A/S

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      Vestas has been notified that Mitsubishi Heavy Industries Ltd. (MHI) will not exercise the option to change the ownership ratio of MHI Vestas Offshore Wind A/S ref. company announcement No. 41/2013 of 27 September 2013. Equity ownership ratios in MHI Vestas Offshore Wind A/S will consequently remain at 50 percent for each of MHI and Vestas.

      “We believe that unchanged ownership shares is the best way to support the further development of the joint venture while showing the strong partnership and equal contribution from the two parent companies to the market”, says Michisuke Nayama, President and CEO, Energy & Environment, Mitsubishi Heavy Industries Ltd.

      Vestas President and CEO Anders Runevad says, “There is an excellent collaboration between MHI and Vestas in the joint venture, whose business is developing according to plan. We have said from the beginning that the exact ownership structure has no real impact on the day-to-day running of the business, and that remains the case with MHI’s decision. We look forward to building on the productive working relations with MHI and to MHI Vestas Offshore Wind’s continued success.”



      Contact details
      Vestas Wind Systems A/S, Denmark
      Hans Martin Smith, Senior Vice President, Group Treasury and Investor Relations
      Tel: +45 9730 8209

      Download company announcement (pdf)

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      06:55 - 13 Apr 2016

      Information in the market regarding project in the USA

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      Today there is information in the market regarding Vestas and a 600 MW project in the USA.

      Vestas can confirm that Vestas has entered into a conditional agreement to supply wind turbines for a 600 MW project in the USA.

      If and when 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
      Hans Martin Smith, Senior Vice President, Group Treasury and Investor Relations
      Tel: +45 9730 8209

       

      Download Company annoncement (pdf)

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      23:45 - 31 Mar 2016

      Vestas receives 200 MW order in the USA

      Vestas has received a firm and unconditional order in the USA for 100 V110-2.0 MW turbines, totalling 200 MW.

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      Vestas has received a firm and unconditional order in the USA for 100 V110-2.0 MW turbines, totalling 200 MW.

      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: 200 MW
      Number of turbines/turbine type 100 x V110-2.0 MW turbines
      Contract type: Supply-only
      Contract scope: The contract includes supply and commissioning of the wind turbines, as well as a five-year customised Active Output Management service agreement.
      Time of delivery Delivery of the wind turbines is expected to begin in fourth quarter of 2016, with commissioning expected in first quarter of 2017.     

      Total year-to-date announced order intake in MW: 1,806 MW, (see vestas.com/investor).

      Contact details

      Vestas Wind Systems A/S, Denmark
      Hans Martin Smith, Senior Vice President, Group Treasury and Investor Relations
      Tel: +45 9730 8209

      Vestas-American Technology
      Chris Brown, President

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

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

      Download company announcement (pdf)

      Close article
      15:20 - 30 Mar 2016

      Vestas Wind Systems A/S’ Annual General Meeting on 30 March 2016

      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.

      Agenda and resolutions

      1. The Board of Directors’ report on the company’s activities during the past year
      The report is not a subject for voting. The Annual General Meeting took note of the report.   

      2. Presentation and adoption of the annual report
      The annual report 2015 was approved.

      3. Resolution for the allocation of the result of the year according to the adopted annual report
      The Board of Directors’ proposal for allocation of the result of the year, including a dividend of DKK 6.82 per share to be paid out for 2015, was approved.

      4. Election to the Board of Directors
      Bert Nordberg, Carsten Bjerg, Eija Pitkänen, Henrik Andersen, Henry Sténson, Lars Josefsson, Lykke Friis and Torben Ballegaard Sørensen were re-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 2015
      The Board of Directors proposed that the remuneration of the Board of Directors and the members of board committees remain unchanged as pre-approved by the general meeting in 2015. The final remuneration of the Board of Directors and the members of the board committees for 2015 was approved.

      5.2. Approval of the level of remuneration of the Board of Directors for 2016
      The Board of Directors proposed that the level of remuneration for 2016 be based upon a fixed basic remuneration of DKK 400,000 per board member, with two times and three times the basic remuneration for the deputy chairman and chairman, respectively, as well as remuneration of DKK 250,000 per board committee membership, and DKK 450,000 to each board committee chairman. The proposal was approved.

      6. Appointment of auditor
      PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab was re-appointed as auditor of the company.

      7. Proposals from the Board of Directors

      7.1. Reduction of the company’s share capital
      The Board of Directors proposed that the company’s share capital be reduced from nominally DKK 224,074,513 to nominally DKK 221,544,727 through cancellation of treasury shares. The proposal was approved.

      7.2. Renewal of the authorisation to acquire treasury shares
      The Board of Directors’ authorisation to acquire treasury shares on an ongoing basis until 31 December 2017 equal to 10 percent of the share capital was approved.

      7.3. Disclosure of company announcements in English
      The Board of Directors proposed that the company’s articles of association be amended so that the company in the future can disclose company announcements in English only. The proposal was approved.

      7.4. Amendment of the company’s remuneration policy for Board of Directors and Executive Management
      The amendment to the remuneration policy to the effect that the additional annual fee to committee chairmen is reduced from 100 percent to 80 percent of the basic fee was approved. 

      8. Authorisation of the chairman of the general meeting
      The chairman (with a right of substitution) was authorised to file and register the adopted resolutions with the Danish Business Authority and make such amendments as requested by the Danish Business Authority.

      - - - - - - -

      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
      Hans Martin Smith, Senior Vice President, Group Treasury and Investor Relations
      Tel: +45 9730 8209

      Download Company announcement (pdf)

      Download Articles of association 2016 (pdf)

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      11:40 - 23 Mar 2016

      Change in communication policy regarding orders

      As per 23 March 2016, Vestas will adjust the threshold for wind turbine and service orders to be disclosed to the market via company announcements to 200 MW and EUR 200m, respectively. Note: to receive news releases on orders below the threshold, subscribing to a new distribution service is necessary. Please see below for details.

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      As per 23 March 2016, Vestas will adjust the threshold for wind turbine and service orders to be disclosed to the market via company announcements to 200 MW and EUR 200m, respectively.

      Note: to receive news releases on orders below the threshold, subscribing to a new distribution service is necessary. Please see below for details.

      As a listed company on Nasdaq Copenhagen, Vestas is obliged to ensure that everyone has equal access to essential information that may significantly affect the price of the Vestas share.

      For wind turbine and service orders, the working definition that Vestas has followed as a general guideline until now has been to disclose firm and unconditional orders with a value in excess of DKK 500m (approx EUR 67m).

      In light of the company’s growth since this threshold was defined and the actual impact observed on the Vestas share price of past announced orders, Vestas deems it appropriate to adjust the announcement policy accordingly.

      Hence, as per 23 March 2016, Vestas will as a general rule disclose company announcements on all wind turbine orders with a total capacity of 200 MW or more.
      For service orders, the corresponding threshold going forward will be EUR 200m.

      It should be noted that this does not rule out that other factors deemed to have a significant impact on the Vestas share price can necessitate company announcements on orders below the mentioned threshold.

      For orders received by the joint venture, MHI Vestas Offshore Wind A/S, for turbine types owned by the joint venture (i.e., on 8 MW platform orders), the new threshold will be 400 MW for wind turbine orders and EUR 400m for service orders, defined as before by the 50/50 percent split ownership.

      News service
      To ensure that Vestas Wind Systems A/S fulfils its stated obligations, Vestas uses Nasdaq Copenhagen's news distribution service (GlobeNewswire) for the distribution of all company announcements.

      Going forward, the same distribution service will be used for Vestas’ news releases, while the previous RSS feed will be terminated. Vestas will continue announcing firm and unconditional orders via news releases per current practice, including for orders below the revised threshold for company announcements.

      Important: If you wish to receive news releases from Vestas going forward (on orders below the new threshold and other news), you will need to subscribe anew (LINK). Previous subscriptions will not be automatically transferred to the new distribution service. If you have any questions to the new distribution service, please write to ir@vestas.com.

      Subscriptions to company announcements will continue as before.


      Contact details
      Vestas Wind Systems A/S, Denmark
      Hans Martin Smith, Senior Vice President, Group Treasury and Investor Relations
      Tel: +45 9730 8209
      Email:  ir@vestas.com

      Michael Zarin, Head of External Communications
      Tel:  +45 4084 1526
      Email:  mizar@vestas.com

      Download Company announcement (pdf)

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      07:02 - 01 Mar 2016

      Vestas completes acquisition of Availon Holding GmbH

      Final closing of the acquisition of Availon Holding GmbH has now taken place.

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      Final closing of the acquisition of Availon Holding GmbH has now taken place.

      Following the approval from all relevant authorities, Vestas has today, as expected, completed the acquisition of Availon Holding GmbH, a leading European independent service provider, ref. company announcement No. 2/2016 of 20 January 2016.

      Availon will from today be included in Vestas’ financials. The outlook for 2016 is maintained as the acquisition was incorporated in previously announced expectations.

      Contact details
      Hans Martin Smith, Senior Vice President, Investor Relations
      Vestas Wind Systems A/S, Denmark
      Tel: +45 9730 8209


      Download selskabsmeddelelse (pdf)
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      07:00 - 26 Feb 2016

      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 Wednesday, 30 March 2016 at 1:00 p.m. (CET) at the Concert Hall Aarhus (Musikhuset Aarhus), Thomas Jensens Allé, 8000 Aarhus C, Denmark.

       

      Download pdf

      More information

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      14:37 - 25 Feb 2016

      Settlement of legal proceedings in Denmark and India concerning former Chief Financial Officer Henrik Nørremark, RRB Energy Limited, and Eco RRB Infra Private Limited

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      In announcements nos. 36/2012 of 2 October 2012, 22/2013 of 24 May 2013 and 33/2015 of 24 June 2015, Vestas provided information on the disputes concerning Vestas' former CFO, Henrik Nørremark, RRB Energy Limited, and Eco RRB Infra Private Limited as regards financial transactions and project developments.
       
      After successful negotiations among the parties, a confidential settlement has been concluded, which is conclusive and resolves all issues in dispute in multiple jurisdictions.
       
      Consequently, the trial in Denmark and the pending cases in India, including the arbitration proceedings, have been and will be withdrawn.
       
      The Chairman of Vestas' Board of Directors, Mr Bert Nordberg states: “A settlement has now been reached between the parties regarding the mentioned disputes which is agreeable to all parties.”

      Contact details

      Vestas Wind Systems A/S, Denmark

      Michael Zarin, Head of External Communications & Media Relations
      Tel: +45 4084 1526
      Email: mizar@vestas.com

      Hans Martin Smith, Senior Vice President, Investor Relations
      Tel:  +45 9730 8209
      Email: hamsm@vestas.com 

      Download Company announcement (pdf)

       

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      13:05 - 23 Feb 2016

      Vestas receives 1 GW order in Norway

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      Vestas has received a firm and unconditional order for 30 V112-3.45 MW and 248 V117-3.45 MW turbines with power optimised mode to 3.6 MW, to be used for six wind power plants in Norway, with a total capacity of 1001 MW (ref. Company announcement No. 6/2016 disclosed earlier today).

      Additional information about the project:

      Customer: Fosen Vind DA (a joint venture company owned by Statkraft, TrønderEnergi, and the investor consortium Nordic Wind Power DA).
      Project name: The Fosen Vind project portfolio includes the Harbaksfjellet, Roan, Storheia, Kvenndalsfjellet, Geitfjellet, and Hitra 2 wind power plants.
      Location/Country: Trondheim, Norway
      Number of MW: 1001 MW
      Number of turbines/turbine type 30 x V112-3.45 MW turbines and 248 x V117-3.45 MW turbines, all with power optimised mode to 3.6 MW.
      Contract type: Supply-and-installation
      Contract scope: The contract includes supply, installation and commissioning of the wind turbines, as well as a two-year customised, full-scope service agreement, followed by a 20-year service & support agreement.
      Time of delivery Delivery of the first turbines is planned to take place in second quarter of 2018, with commissioning of the last wind power plant expected in fourth quarter of 2020.

      Total year-to-date announced order intake in MW: 1,319 MW, (see vestas.com/investor).

      Contact details
      Vestas Wind Systems A/S, Denmark
      Hans Martin Smith, Senior Vice President, Investor Relations
      Tel: +45 9730 8209

      Vestas Northern Europe,
      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)

      Download news release (pdf)

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      07:04 - 23 Feb 2016

      Information in the market regarding projects in Norway

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      Today, there is information in the market regarding Vestas and projects in Norway.

      Vestas can confirm, that Fosen Vind DA, a joint venture company owned by Statkraft, TrønderEnergi, and the investor consortium Nordic Wind Power DA, has selected Vestas for the delivery of wind turbines for six wind power plants totalling 1 GW in Norway.

      The projects replace the Fosen-Snillfjord projects, which were terminated last year in June (ref. Vestas Company announcement No. 30/2015 of 4 June 2015).

      Signing of the contract has taken place, and the resulting firm and unconditional order is expected to be forthcoming relatively soon. Following standard practice, however, Vestas will only disclose a company announcement at the moment when there is a firm and unconditional order in accordance with Vestas’ definition.

      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
      Hans Martin Smith, Senior Vice President, Investor Relations
      Tel: +45 9730 8209

       

      Download Company announcement (pdf)

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      10:15 - 18 Feb 2016

      Information in the market regarding MHI Vestas Offshore Wind and an offshore project in Belgium

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      Today, there is information in the market regarding MHI Vestas Offshore Wind having been appointed preferred supplier for an offshore project in Belgium.

      Vestas can confirm that Norther NV (a joint venture between Eneco (50 percent) and Elicio NV (50 percent)) has appointed MHI Vestas Offshore Wind preferred supplier for delivery of the V164-8.0 MW turbine for the 370 MW Norther project in Belgium.

      If and when the project translates into a firm and unconditional order, 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
      Hans Martin Smith, Senior Vice President, Investor Relations
      Tel: +45 9730 8209

      More information about this announcement can be found at http://www.mhivestasoffshore.com/media/.

       

      Download pdf

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      22:52 - 11 Feb 2016

      Vestas receives 200 MW order in the USA

      Vestas has received a firm and unconditional order in the USA for 100 V110-2.0 MW turbines, totalling 200 MW.

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      Vestas has received a firm and unconditional order in the USA for 100 V110-2.0 MW turbines, totalling 200 MW.

      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: 200 MW
      Number of turbines/turbine type 100 x V110-2.0 MW turbines
      Contract type: Supply-only
      Contract scope: The contract includes supply and commissioning of the wind turbines, as well as a five-year customised Active Output Management service agreement.
      Time of delivery Delivery of the wind turbines is expected in third quarter of 2016, with commissioning expected in fourth quarter of 2016.     

      Total year-to-date announced order intake in MW: 318 MW, (see vestas.com/investor).

      Contact details

      Vestas Wind Systems A/S, Denmark
      Hans Martin Smith, Senior Vice President, Investor Relations
      Tel: +45 9730 8209

      Vestas-American Technology
      Chris Brown, President

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

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

      Download company announcement (pdf)

       

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      08:30 - 09 Feb 2016

      Annual report 2015

      Yet another year with strong financial and operational results

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      Yet another year with strong financial and operational results

      Summary: For full-year 2015, revenue amounted to EUR 8.4bn, EBIT margin before special items was 10.2 percent, total net investments was EUR 425m, and the free cash flow amounted to EUR 1,047m. This is largely in line with the latest expectations to revenue of EUR 8.0bn-8.5bn, EBIT margin before special items of 9-10 percent, total investments of approx EUR 400m, and free cash flow around EUR 750m-950m. The activity level and earnings of the period were driven by the stable execution of strong order books for wind turbines and service, both of which continued to grow during the year as a result of solid execution and a favourable market environment.

      The wind turbine order intake increased from 6,544 MW in 2014 to 8,943 MW in 2015 and the value of the service order backlog increased by EUR 1.9bn to EUR 8.9bn.

      For 2016, Vestas expects revenue to amount to minimum EUR 9bn including service revenue, which is expected to grow. Vestas expects to achieve an EBIT margin before special items of minimum 11 percent with the service EBIT margin remaining stable.

      Total net investments are expected to amount to approx EUR 500m (incl. the acquisition of Availon Holding GmbH), and the free cash flow is expected to be minimum EUR 600m (incl. the acquisition of Availon Holding GmbH) in 2016.

      As a result of the strong performance during the year, the Board of Directors recommends to the Annual General Meeting that a dividend of DKK 6.82 per share, compared to DKK 3.90 last year, and equivalent to 29.9 percent of the net profit for the year, be distributed to the shareholders.

      “In 2015, we executed well on our profitable growth strategy, delivering strong financial and operational results across the board and across the globe. Vestas met or exceeded its full-year 2015 guidance on revenue, EBIT margin, and free cash flow; and delivered double-digit margins and its highest ever net profit. We also secured our highest ever order intake, doing so across 34 countries on five continents, which bodes well for continued high activity levels in 2016. The 20,507 Vestas employees deserve special thanks for the tremendous efforts everyone has made to create these very positive results for the company and our shareholders,” says Anders Runevad, Group President & CEO.

      Information meeting (audiocast)
      On Tuesday, 9 February 2016 at 10 a.m. CET (9 a.m. GMT), Vestas will host an information meeting via an audiocast. The audiocast will be accessible via vestas.com/investor.

      The meeting will be held in English and questions may be asked through a conference call. The telephone numbers for the conference call are:

      Europe:  +44 203 008 9814
      USA:   +1 646 722 4898
      Denmark:  +45 3544 5576

      Further details at vestas.com/en/investor. 

      Presentation material for the information meeting will be available approx one hour before the meeting at vestas.com/en/investor.

      Contact details
      Vestas Wind Systems A/S, Denmark

      Investors/analysts:
      Hans Martin Smith, Senior Vice President, Investor Relations, Tel: +45 9730 8209

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

       

      Download Annual report 2015 (pdf)

      Download Company announcement (pdf)

      Download Shareholder information 01/2016 (pdf)

      Close article
      17:26 - 20 Jan 2016

      Vestas to acquire Germany-based independent service provider Availon

      The acquisition strengthens Vestas’ capabilities to service a broad range of wind turbine technologies.

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      The acquisition strengthens Vestas’ capabilities to service a broad range of wind turbine technologies.

      Vestas has today agreed to acquire Availon, a leading European independent service provider headquartered in Rheine, Germany, with approx 400 employees and a total capacity of more than 2.6 GW currently under service. Availon’s core market is Germany, while the company also has notable service activities in Austria, Italy, Portugal, Spain, Poland and the United States.

      The transaction is subject to customary closing conditions, including approval from relevant competition authorities. Closing is expected to take place in the first quarter of 2016.

      “Acquiring Availon is a natural next step in accelerating Vestas’ profitable growth strategy in the service business. Size and scale matter and the acquisition strengthens our capabilities to service most major turbine technologies and to capture market shares. Availon is a solid strategic fit and a great complement to our recent acquisition of UpWind Solutions in the United States”, says Group Senior Vice President Christian Venderby, Vestas Global Service. 

      We are very pleased to welcome Availon and our new colleagues to the Vestas organisation”, says Nils de Baar, President of Vestas Central Europe. “Germany is our largest market in Europe, and Availon’s strong performance here and elsewhere will expand our joint service portfolio and bolster our position as a leading global service partner. I look forward to working with Availon’s highly professional management team and to ensuring that we execute and expand our combined order backlog”. 

      “Vestas and Availon share the same values in terms of safety, quality, customer satisfaction and reaching the highest availability possible. Combining forces will contribute to our jointly becoming the preferred fleetwide service partner for a wider range of customers and turbine technologies. We look forward to becoming part of such a passionate and forward-looking organisation”, says Availon’s CEO Ulrich Schomakers.

      The acquisition price for Availon is EUR 88.0 million on a debt and cash free basis. The consideration will be paid in cash from readily available sources. For 2015 Availon is on a stand-alone basis expected to report consolidated revenues of EUR 59.8 million, normalised EBITDA of EUR 5.2 million and total assets of approx EUR 33.3 million. Availon will be included in Vestas’ financials from the time of closing.

      Contact details

      Hans Martin Smith, Senior Vice President, Investor Relations
      Vestas Wind Systems A/S, Denmark
      Tel:  +45 9730 8209

      For more information, or to arrange an interview with Christian Venderby or Nils De Baar, please contact:

      Michael Zarin, Head of External Communications
      Tel:  +45 4084 1526
      Email: mizar@vestas.com

      Download Company announcement (pdf)

      Close article
      00:22 - 16 Jan 2016

      Vestas receives a 15-year service contract extension for 570 MW in the USA 

      Vestas has received a 15-year extension to a service agreement for four wind power plants in California, with a total capacity of 570 MW.

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      Vestas has received a 15-year extension to a service agreement for four wind power plants in California, with a total capacity of 570 MW.

      Additional information:

      Customer: NRG
      Project name: Alta II, III, IV, and V
      Location/Country: Mojave, California
      Number of MW/turbines: 570 MW/ 190 x V90-3.0 MW turbines
      Duration of service contracts: 15 years
      Contract scope: The service contract encompasses the Vestas Active Output Management 5000.

      Contact details:

      Vestas Wind Systems A/S, Denmark
      Hans Martin Smith, Senior Vice President, Investor Relations
      Tel: +45 9730 8209

      Vestas-American Wind Technology
      Chris Brown, President 

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

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

      Download Company announcement (pdf)

      Close article
    • 10:07 - 31 Dec 2015

      Vestas receives 90 MW order in Brazil

      Vestas has received a firm and unconditional order in Brazil, consisting of 45 V110-2.0 MW turbines, with a total capacity of 90 MW.

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      Vestas has received a firm and unconditional order in Brazil, consisting of 45 V110-2.0 MW turbines, with a total capacity of 90 MW.

      Additional information about the project:

      Customer: Not disclosed at the customer’s request.
      Project name: Not disclosed at the customer’s request.
      Location/Country: State of Bahia, Brazil
      Number of MW: 90 MW
      Number of turbines/turbine type 45 x V110-2.0 MW turbines
      Contract type: Supply-and-installation
      Contract scope: The contract covers supply, installation and commissioning of the wind turbines.
      Time of delivery Turbine delivery is planned for the fourth quarter of 2016, with commissioning expected in 2017.

      Total year-to-date announced order intake in MW: 8,023 MW, (see vestas.com/investor).

      Contact details
      Vestas Wind Systems A/S, Denmark
      Hans Martin Smith, Senior Vice President, Investor Relations
      Tel: +45 9730 8209

      Vestas Mediterranean
      Marco Graziano, President 

      For more information, or to arrange an interview with Marco Graziano, please contact:

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

      Download company announcement (pdf)

      Close article
      13:39 - 30 Dec 2015

      Vestas receives 117 MW order in Finland

      Vestas has received a firm and unconditional order with a total capacity of 117 MW in Finland, comprising 34 V136-3.45 MW turbines.

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      Vestas has received a firm and unconditional order with a total capacity of 117 MW in Finland, comprising 34 V136-3.45 MW turbines.

      Additional information about the project:

      Customer: EPV Tuulivoima Oy
      Project name: Metsälä
      Location/Country: Vaasa region, Finland
      Number of MW: 117 MW
      Number of turbines/turbine type 34 x V136-3.45 MW turbines
      Contract type: Supply-and-installation
      Contract scope: The contract includes supply, installation and commissioning of the wind turbines, as well as a 10-year Active Output Management 5000 service agreement.
      Time of delivery Delivery of the wind turbines is expected to begin in 2017.

      Total year-to-date announced order intake in MW: 7,933 MW, (see vestas.com/investor).

      Contact details
      Vestas Wind Systems A/S, Denmark
      Hans Martin Smith, Senior Vice President, Investor Relations
      Tel: +45 9730 8209

      Vestas Northern Europe,
      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)

      Download news release (pdf)

      Close article
      22:52 - 24 Dec 2015

      Vestas receives 198 MW order in the USA

      Vestas has received a firm and unconditional order in Oklahoma, USA, for 60 V117-3.3 MW turbines with a total capacity of 198 MW.

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      Vestas has received a firm and unconditional order in Oklahoma, USA, for 60 V117-3.3 MW turbines with a total capacity of 198 MW.

      Additional information about the project:

      Customer: RES America Construction Inc./ Renewable Energy Systems
      Project name: Bluestem
      Location/Country: Oklahoma, USA
      Number of MW: 198 MW
      Number of turbines/turbine type 60 V117-3.3 MW turbines
      Contract type: Supply-only
      Contract scope: The contract includes supply and commissioning of the wind turbines, as well as a five-year Active Output Management 4000 service agreement.
      Time of delivery Delivery of the wind turbines is expected to begin in third quarter of 2016, with commissioning planned for fourth quarter of 2016.

      Total year-to-date announced order intake in MW: 7,726 MW, (see vestas.com/investor).

      Contact details

      Vestas Wind Systems A/S, Denmark
      Hans Martin Smith, Senior Vice President, Investor Relations
      Tel: +45 9730 8209

      Vestas-American Technology
      Chris Brown, President

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

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

      Download company announcement (pdf)

      Close article
      16:55 - 23 Dec 2015

      Vestas receives 110 MW order in the UK

      Vestas has received a firm and unconditional order in Scotland, UK, for 30 V117-3.45 MW turbines combined with two V112-3.45 MW turbines, with a total capacity of 110 MW.

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      Vestas has received a firm and unconditional order in Scotland, UK, for 30 V117-3.45 MW turbines combined with two V112-3.45 MW turbines, with a total capacity of 110 MW.

      Additional information about the project:

      Customer: SSE Generation Limited
      Project name: Bhlaraidh
      Location/Country: Scotland, UK
      Number of MW: 110 MW
      Number of turbines/turbine type 30 x V117-3.45 MW and 2 x V112-3.45 MW turbines
      Contract type: Supply-and-installation
      Contract scope: The contract includes supply, installation and commissioning of the wind turbines, as well as a 10-year Active Output Management 4000 service agreement.
      Time of delivery Delivery of the wind turbines is expected to commence in fourth quarter of 2016, with commissioning planned for first half of 2017.

      Total year-to-date announced order intake in MW: 7,528 MW, (see vestas.com/investor).

      Contact details
      Vestas Wind Systems A/S, Denmark
      Hans Martin Smith, Senior Vice President, Investor Relations
      Tel: +45 9730 8209

      Vestas Northern Europe,
      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)

      Download news release (pdf)

      Close article
      15:03 - 18 Dec 2015

      Transactions in connection with share buy-back programme

      Transactions made in the period 14 – 18 December 2015, completing the programme.

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      Transactions made in the period 14 – 18 December 2015, completing the programme.

      On 5 November 2015, Vestas initiated a share buy-back programme, ref. Company announcement No. 54/2015. The programme is implemented in accordance with the provisions of European Commission Regulation no. 2273/2003 of 22 December 2003 (the Safe Harbour Regulation). The purpose of the programme is to adjust Vestas’ capital structure and to meet the obligations arising from employee share option programmes or other allocations of shares to employees of Vestas.

      Under the programme Vestas will buy back shares for an amount up to DKK 1,120 million (approximately EUR 150 million) in the period from 5 November 2015 to 31 December 2015.

      The following transactions have been made under the programme during the period 14 – 18  December 2015:

        Number of
      shares
      Average purchase
      price, DKK
       
      Transaction
      value, DKK
       

       14 December 2015

      60,000

      446.67

      26,799,960

       15 December 2015

      9,380

      452.49

      4,244,364

       16 December 2015

      50,000

      476.03

      23,801,690

       17 December 2015

      125,000

      482.01

      60,251,750

       18 December 2015

      56,281

      477.59

      26,879,434

       Accumulated under the programme

      2,529,786

      442.73

      1,119,999,730

      The share buy-back programme initiated 5 November 2015 is hereby finalised.

      Contact details
      Vestas Wind Systems A/S, Denmark
      Hans Martin Smith, Senior Vice President, Investor Relations
      Tel: +45 9730 8209 

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

      Download Company announcement (pdf)

      Close article
      20:56 - 17 Dec 2015

      Vestas receives 100 MW order in the USA

      Vestas has received a firm and unconditional order in the USA for a total capacity of 100 MW.

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      Vestas has received a firm and unconditional order in the USA for a total capacity of 100 MW.

      Additional information about the project:

      Customer: Not disclosed.
      Project name: Not disclosed.
      Location/Country: USA
      Number of MW: 100 MW
      Number of turbines/turbine type Not disclosed.
      Contract type: Supply-only
      Contract scope: The contract includes supply and commissioning of the wind turbines, as well as a three-year Active Output Management 5000 service agreement.
      Time of delivery Commissioning is expected in 2017.     

      Total year-to-date announced order intake in MW: 7,418 MW, (see vestas.com/investor).

      Contact details

      Vestas Wind Systems A/S, Denmark
      Hans Martin Smith, Senior Vice President, Investor Relations
      Tel: +45 9730 8209

      Vestas-American Technology
      Chris Brown, President

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

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

      Download company announcement (pdf)

      Close article
      10:15 - 16 Dec 2015

      MHI Vestas Offshore Wind has received a 330 MW order for an offshore project in the UK

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      MHI Vestas Offshore Wind has received a firm and unconditional order for 40 V164-8.0 MW turbines for the offshore Walney Extension West project in the UK, ref. company announcements No. 9/2015 of 18 February 2015 and No. 32/2015 of 11 June 2015. The 330 MW order is placed by DONG Energy, and the contract covers supply and commissioning of the wind turbines, as well as a five-year full-scope service contract.

      The project will be delivered by MHI Vestas Offshore Wind and will not enter into the order backlog of Vestas Wind Systems A/S.

      As Vestas owns 50 percent of the joint venture company MHI Vestas Offshore Wind, Vestas will disclose firm and unconditional orders received by MHI Vestas Offshore Wind with a value above DKK 1bn, ref. Vestas’ Communication Strategy.

      Contact details
      Vestas Wind Systems A/S, Denmark
      Hans Martin Smith, Senior Vice President, Investor Relations
      Tel: +45 9730 8209



      A news release from MHI Vestas Offshore Wind regarding the order will also be published on mhivestasoffshore.com under “Media and news”.

      MHI Vestas Offshore Wind is a joint venture between Vestas Wind Systems A/S (50 percent) and Mitsubishi Heavy Industries (MHI) (50 percent). The company’s sole focus is to design, manufacture, install and service wind turbines for the offshore wind industry.

      MHI Vestas Offshore Wind
      Matt Whitby, Press Officer
      Tel: +45 2250 7131
      Email: matke@mhivestasoffshore.com

       

      Download Company announcement (pdf)

      Close article
      07:51 - 14 Dec 2015

      Vestas’ financial calendar 2016

      The Vestas Group’s financial calendar for 2016 is as follows:

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      The Vestas Group’s financial calendar for 2016 is as follows:

      9 February 2016
      Disclosure of annual report 2015 and outlook for 2016

      16 February 2016
      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

      26 February 2016
      Convening for the Annual General Meeting

      30 March 2016
      Annual General Meeting in Aarhus, Denmark

      29 April 2016
      Disclosure of interim financial report for first quarter 2016

      18 August 2016
      Disclosure of interim financial report for second quarter 2016

      8 November 2016
      Disclosure of interim financial report for third quarter 2016



      Contact details 
      Vestas Wind Systems A/S, Denmark
      Hans Martin Smith, Senior Vice President, Investor Relations
      Tel: +45 9730 8209

       

      Download Company announcement (pdf)

      Close article
      07:32 - 14 Dec 2015

      Transactions in connection with share buy-back programme

      Transactions made in the period 7 – 11 December 2015.

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      Transactions made in the period 7 – 11 December 2015.

      On 5 November 2015, Vestas initiated a share buy-back programme, ref. Company announcement No. 54/2015. The programme is implemented in accordance with the provisions of European Commission Regulation no. 2273/2003 of 22 December 2003 (the Safe Harbour Regulation). The purpose of the programme is to adjust Vestas’ capital structure and to meet the obligations arising from employee share option programmes or other allocations of shares to employees of Vestas.

      Under the programme Vestas will buy back shares for an amount up to DKK 1,120 million (approximately EUR 150 million) in the period from 5 November 2015 to 31 December 2015.

      The following transactions have been made under the programme during the period 7 – 11  December 2015:

        Number of
      shares
      Average purchase
      price, DKK
       
      Transaction
      value, DKK
       

       07 December 2015

      65,000

      459.66

      29,877,595

       08 December 2015

      74,362

      457.79

      34,042,046

       09 December 2015

      22,000

      455.97

      10,031,276

       10 December 2015

      63,343

      452.17

      28,641,494

       11 December 2015

      200,295

      441.42

      88,415,080

       Accumulated under the programme

      2,229,125

      438.75

      978,022,525

      Contact details
      Vestas Wind Systems A/S, Denmark
      Hans Martin Smith, Senior Vice President, Investor Relations
      Tel: +45 9730 8209 

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

      Download Company announcement (pdf)

      Close article
      16:34 - 07 Dec 2015

      Vestas acquires US independent service provider UpWind Solutions

      The acquisition accelerates Vestas’ profitable growth strategy and strengthens Vestas’ ability to service non-Vestas turbines.

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      The acquisition accelerates Vestas’ profitable growth strategy and strengthens Vestas’ ability to service non-Vestas turbines.

      Vestas has today acquired UpWind Solutions, Inc. and its subsidiaries (“UpWind Solutions“), a leading independent service provider in North America, with headquarters in San Diego, California. With about 310 employees, UpWind Solutions currently services wind power plants in nine US states with a total capacity of more than 3 GW. The wind power plants under service represent a diverse customer base and include turbines from a number of manufacturers. UpWind Solutions also supplies parts for most major turbine technologies, performs blade inspections, and offers various performance upgrades.

      “The acquisition accelerates our profitable growth strategy and helps Vestas to capture the full potential of the service business. We are broadening our capabilities and increasing the size of our addressable market for all major turbine technologies. In short, the acquisition is a strong strategic fit,” says Group Senior Vice President Christian Venderby, Vestas Global Service. 

      “North America is an important market for Vestas, and this acquisition will contribute to Vestas becoming the customers’ preferred fleet-wide service partner,” says Chris Brown, President of Vestas Sales and Service Division in the United States and Canada. “We are very pleased to welcome UpWind Solutions and its 310 employees to become part of the Vestas organisation.”   

      Vestas has more than 50 GW under service worldwide, and together Vestas and UpWind Solutions will service approximately 17 GW of Vestas and non-Vestas turbines in the USA and Canada with ambitions for further growth.

      “Vestas represents high quality technology and service and shares UpWind Solutions’ passion for excellence.  We’re delighted to become part of the global wind industry leader, and look forward to jointly ensuring that our expanded customer base receives the best possible operations and maintenance service for their fleets,” says CEO Peter Wells, UpWind Solutions.

      The acquisition price for UpWind Solutions is USD 60m (approximately EUR 55m) on a debt and cash free basis. The consideration has been paid in cash from readily available sources. On a standalone basis excluding synergies, UpWind Solutions is expecting for 2015 to report consolidated revenues of USD 55m (approximately EUR 50m), an EBITDA of USD 3.4m (approximately EUR 3.1m), and total assets of approximately USD 20m (approximately EUR 18m).

      The acquisition of UpWind Solutions is effective as of today. Vestas expects the acquisition will have only a limited effect on Vestas’ expected result for 2015. Outlook for 2015 revenue and EBIT margin before special items are maintained, while total investments are now expected to amount to approximately EUR 400m and free cash flow is consequently expected to be between EUR 750m and 950m for 2015.

      Contact details
      Vestas Wind Systems A/S, Denmark
      Hans Martin Smith, Senior Vice President, Investor Relations
      Tel: +45 9730 8209

      Christian Venderby, Group Senior Vice President, Vestas Global Service

      Chris Brown, President of Vestas Sales and Service Division in the United States and Canada

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

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

      Download Company announcement (pdf)

      Close article
      07:31 - 07 Dec 2015

      Transactions in connection with share buy-back programme

      Transactions made in the period 30 November – 4 December 2015.

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      Transactions made in the period 30 November – 4 December 2015.

      On 5 November 2015, Vestas initiated a share buy-back programme, ref. Company announcement No. 54/2015. The programme is implemented in accordance with the provisions of European Commission Regulation no. 2273/2003 of 22 December 2003 (the Safe Harbour Regulation). The purpose of the programme is to adjust Vestas’ capital structure and to meet the obligations arising from employee share option programmes or other allocations of shares to employees of Vestas.

      Under the programme Vestas will buy back shares for an amount up to DKK 1,120 million (approximately EUR 150 million) in the period from 5 November 2015 to 31 December 2015.

      The following transactions have been made under the programme during the period 30 November – 4  December 2015:

        Number of
      shares
      Average purchase
      price, DKK
       
      Transaction
      value, DKK
       

       30 November 2015

      36,000 

      456.45 

      16,432,333 

       01 December 2015

      208,000 

      461.56 

      96,005,166 

       02 December 2015

      78,839 

      460.34 

      36,292,808 

       03 December 2015

      170,199 

      458.53 

      78,041,007 

       04 December 2015

      4,000

      451.60 

      1,806,388 

       Accumulated under the programme

      1,804,125

      436.23 

      787,015,030

      Contact details
      Vestas Wind Systems A/S, Denmark
      Hans Martin Smith, Senior Vice President, Investor Relations
      Tel: +45 9730 8209 

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

      Download Company announcement (pdf)

      Close article
      23:18 - 30 Nov 2015

      Vestas receives 201 MW order in the USA

      Vestas has received a firm and unconditional order in the USA, comprising 51 V100-2.0 MW turbines combined with 30 V117-3.3 MW turbines, totalling 201 MW.

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      Vestas has received a firm and unconditional order in the USA, comprising 51 V100-2.0 MW turbines combined with 30 V117-3.3 MW turbines, totalling 201 MW.

      Additional information about the project:

      Customer: EDF Renewable Energy
      Project name: Not disclosed at the customer’s request.
      Location/Country: USA
      Number of MW: 201 MW
      Number of turbines/turbine type 51 x V100-2.0 MW and 30 x V117-3.3 MW turbines
      Contract type: Supply-only
      Contract scope: The contract includes supply and commissioning of the wind turbines, as well as a three-year Active Output Management 5000 service agreement.
      Time of delivery Turbine delivery is planned to begin in third quarter 2016, with commissioning expected in fourth quarter 2016.

      Total year-to-date announced order intake in MW: 7,282 MW, (see vestas.com/investor).

      Contact details

      Vestas Wind Systems A/S, Denmark
      Hans Martin Smith, Senior Vice President, Investor Relations
      Tel: +45 9730 8209

      Vestas-American Technology
      Chris Brown, President

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

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

      Download company announcement (pdf)

       

      Close article
      13:46 - 30 Nov 2015

      Information in the market regarding project in Morocco

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      Today, there is information in the market regarding Vestas and a 120 MW project in Morocco.

      If and when 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
      Hans Martin Smith, Senior Vice President, Investor Relations
      Tel: +45 9730 8209

      Download pdf

      Close article
      07:37 - 30 Nov 2015

      Transactions in connection with share buy-back programme

      Transactions made in the period 23 – 27 November 2015.

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      Transactions made in the period 23 – 27 November 2015.

      On 5 November 2015, Vestas initiated a share buy-back programme, ref. Company announcement No. 54/2015. The programme is implemented in accordance with the provisions of European Commission Regulation no. 2273/2003 of 22 December 2003 (the Safe Harbour Regulation). The purpose of the programme is to adjust Vestas’ capital structure and to meet the obligations arising from employee share option programmes or other allocations of shares to employees of Vestas.

      Under the programme Vestas will buy back shares for an amount up to DKK 1,120 million (approximately EUR 150 million) in the period from 5 November 2015 to 31 December 2015.

      The following transactions have been made under the programme during the period 23 – 27 November 2015:

        Number of
      shares
      Average purchase
      price, DKK
       
      Transaction
      value, DKK
       

       23 November 2015

      45,000 

      432.85

      19,478,210 

       24 November 2015

      118,000

      432.37 

      51,019,400

       25 November 2015

      32,500

      438.73 

      14,258,605 

       26 November 2015

      158,587 

      440.77 

      69,900,487 

       27 November 2015

      10,000 

      449.22

      4,492,164 

       Accumulated under the programme

      1,307,087

      427.24 

      558,437,279

      Contact details
      Vestas Wind Systems A/S, Denmark
      Hans Martin Smith, Senior Vice President, Investor Relations
      Tel: +45 9730 8209 

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

      Download Company announcement (pdf)

      Close article
      18:46 - 23 Nov 2015

      Vestas receives 200 MW order in the USA

      Vestas has received a firm and unconditional order in the USA for 61 V126-3.3 MW turbines, with a total capacity of 200 MW.

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      Vestas has received a firm and unconditional order in the USA for 61 V126-3.3 MW turbines, with a total capacity of 200 MW.

      Additional information about the project:

      Customer: Not disclosed at the customer’s request.
      Project name: Not disclosed at the customer’s request.
      Location/Country: Oklahoma, USA
      Number of MW: 200 MW
      Number of turbines/turbine type 61 x V126-3.3 MW turbines
      Contract type: Supply-only
      Contract scope: The contract includes supply and commissioning of the wind turbines, as well as a three-year Active Output Management 5000 service agreement.
      Time of delivery Delivery of the wind turbines is expected to begin in second quarter of 2016, with commissioning planned for second half of 2016.

      Total year-to-date announced order intake in MW: 7,081 MW, (see vestas.com/investor).

      Contact details
      Vestas Wind Systems A/S, Denmark
      Hans Martin Smith, Senior Vice President, Investor Relations
      Tel: +45 9730 8209

      Vestas-American Technology
      Chris Brown, President

      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 Technology regarding the above-mentioned order will also be published on vestas.com under “Company News”.

      Download company announcement (pdf)

      Download news release (pdf) 

      Close article
      07:34 - 23 Nov 2015

      Transactions in connection with share buy-back programme

      Transactions made in the period 16 – 20 November 2015.

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      Transactions made in the period 16 – 20 November 2015.

      On 5 November 2015, Vestas initiated a share buy-back programme, ref. Company announcement No. 54/2015. The programme is implemented in accordance with the provisions of European Commission Regulation no. 2273/2003 of 22 December 2003 (the Safe Harbour Regulation). The purpose of the programme is to adjust Vestas’ capital structure and to meet the obligations arising from employee share option programmes or other allocations of shares to employees of Vestas.

      Under the programme Vestas will buy back shares for an amount up to DKK 1,120 million (approximately EUR 150 million) in the period from 5 November 2015 to 31 December 2015.

      The following transactions have been made under the programme during the period 16 – 20 November 2015:

        Number of
      shares
      Average purchase
      price, DKK
       
      Transaction
      value, DKK
       

       16 November 2015

      20,000

      419.83

      8,396,618

       17 November 2015

      90,000

      433.13

       38,981,916

       18 November 2015

       91,127

       433.23

       39,478,886

       19 November 2015

       95,000

       434.77

       41,303,502

       20 November 2015

       34,873

       429.58

       14,980,618

       Accumulated under the programme

      943,000

      423.42

      399,288,407

      Contact details
      Vestas Wind Systems A/S, Denmark
      Hans Martin Smith, Senior Vice President, Investor Relations
      Tel: +45 9730 8209 

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

      Download Company announcement (pdf)

      Close article
      13:50 - 19 Nov 2015

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

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

      The following members were elected for the next four years:


      Name  Place of employment 

      Michael Abildgaard Lisbjerg (re-elected)
      Senior Shop Steward 

      Vestas Manufacturing A/S
      Assembly Factory in Ringkøbing 

      Kim Hvid Thomsen (re-elected)
      HR Business Partner

      Vestas Wind Systems A/S
      People & Culture 


      The elected group representatives will join the Board of Directors of Vestas Wind Systems A/S following the Annual General Meeting on 30 March 2016.

      Contact details
      Vestas Wind Systems A/S, Denmark
      Hans Martin Smith, Senior Vice President, Investor Relations
      Tel: +45 9730 8209

       

      Download pdf

      Close article
      17:50 - 16 Nov 2015

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

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

      The following members were elected for the next four years:

       

      Name  Place of employment 

      Sussie Dvinge Agerbo (re-elected)
      Management Assistent

      Vestas Wind Systems A/S
      Technology & Service Solutions

      Peter Lindholst (newly-elected)
      Director of Transport & Handling

      Vestas Wind Systems A/S
      Technology & Service Solutions 

      The elected employee representatives will join the Board of Directors of Vestas Wind Systems A/S following the Annual General Meeting on 30 March 2016. At the same time the former employee representative on the Board of Directors Kim Bredo Rahbek will resign.

      On 19 November 2015, 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
      Hans Martin Smith, Senior Vice President, Investor Relations
      Tel: +45 9730 8209

       

      Download pdf

      Close article
      07:36 - 16 Nov 2015

      Transactions in connection with share buy-back programme

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      On 5 November 2015, Vestas initiated a share buy-back programme, ref. Company announcement No. 54/2015. The programme is implemented in accordance with the provisions of European Commission Regulation no. 2273/2003 of 22 December 2003 (the Safe Harbour Regulation). The purpose of the programme is to adjust Vestas’ capital structure and to meet the obligations arising from employee share option programmes or other allocations of shares to employees of Vestas.

      Under the programme Vestas will buy back shares for an amount up to DKK 1,120 million (approximately EUR 150 million) in the period from 5 November 2015 to 31 December 2015.

      The following transactions have been made under the programme during the period 9 – 13 November 2015:

        Number of
      shares
      Average purchase
      price, DKK
       
      Transaction
      value, DKK
       
       09 November 2015

      90,000

      420.80

      37,872,306 

       10 November 2015

      62,000

      417.47

      25,883,183 

       11 November 2015

       45,000

       420.38

       18,917,051

       12 November 2015

       170,000

       421.44

       71,644,171

       13 November 2015

       80,000

       416.44

       33,315,504

       Accumulated under the programme

      612,000 

      418.54

      256,146,861

      Contact details
      Vestas Wind Systems A/S, Denmark
      Hans Martin Smith, Senior Vice President, Investor Relations
      Tel: +45 9730 8209 

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

      Download Company announcement (pdf)

      Close article
      07:30 - 09 Nov 2015

      Transactions in connection with share buy-back programme

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      On 5 November 2015, Vestas initiated a share buy-back programme, ref. Company announcement No. 54/2015. The programme is implemented in accordance with the provisions of European Commission Regulation no. 2273/2003 of 22 December 2003 (the Safe Harbour Regulation). The purpose of the programme is to adjust Vestas’ capital structure and to meet the obligations arising from employee share option programmes or other allocations of shares to employees of Vestas.

      Under the programme Vestas will buy back shares for an amount up to DKK 1,120 million (approximately EUR 150 million) in the period from 5 November 2015 to 31 December 2015.

      The following transactions have been made under the programme: 

        Number of
      shares
      Average purchase
      price, DKK
       
      Transaction
      value, DKK
       
       5 November 2015

       85,000

       413.56

       35,152,328

       6 November 2015

       80,000

       417.03

       33,362,304

       Accumulated under the programme

       165,000

       415.24

      68,514,632

      Contact details
      Vestas Wind Systems A/S, Denmark
      Hans Martin Smith, Senior Vice President, Investor Relations
      Tel: +45 9730 8209

       

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

       

      Download pdf

      Close article
      11:34 - 06 Nov 2015

      Vestas receives 200 MW order in China 

      Vestas has received a firm and unconditional order in China, for two projects with a total capacity of 200 MW.

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      Vestas has received a firm and unconditional order in China, for two projects with a total capacity of 200 MW.

      Additional information about the projects:

      Customer: Inner Mongolia Hanas Wind Power Co. Ltd
      Project name(s): Azuoqi 1A and Azuoqi 1B
      Location/Country: China
      Number of MW: 200 MW
      Number of turbines/turbine type 50 V110-2.0 MW turbines (Azuoqi 1A) and 25 V100-2.0 MW + 25 V110-2.0 MW turbines (Azuoqi 1B)
      Contract type: Supply-only
      Contract scope: The contract includes delivery and commissioning of the wind turbines, as well as a two-year Active Output Management 4000 service agreement, and a VestasOnline® Business SCADA solution.
      Time of delivery Delivery and commissioning of the wind turbines are expected in second quarter of 2016.

      Total year-to-date announced order intake in MW: 6,811 MW, (see vestas.com/investor).

      Contact details

      Vestas Wind Systems A/S, Denmark
      Hans Martin Smith, Senior Vice President, Investor Relations
      Tel: +45 9730 8209

      Vestas Asia Pacific & China
      Chris Beaufait, President

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

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

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

      Download company announcement (pdf)

      Download news release (pdf)

      Close article
      08:40 - 05 Nov 2015

      Share buy-back programme of up to DKK 1,120 million (approximately EUR 150 million)

      The Board of Directors of Vestas Wind Systems A/S has decided to initiate a share buy-back programme of up to DKK 1,120 million (approximately EUR 150 million) to be executed during the period 5 November 2015 to 31 December 2015.

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      The Board of Directors of Vestas Wind Systems A/S has decided to initiate a share buy-back programme of up to DKK 1,120 million (approximately EUR 150 million) to be executed during the period 5 November 2015 to 31 December 2015.

      The share buy-back programme is initiated pursuant to the authorisation granted to the Board of Directors by the Annual General Meeting on 30 March 2015, which authorises Vestas to acquire treasury shares at a nominal value not exceeding 10 percent of the share capital. The consideration for such shares may not deviate by more than 10 percent from the closing price quoted by Nasdaq Copenhagen at the time of purchase.

      The buy-back will be structured in accordance with the EU Commission Regulation no. 2273/2003 of 22 December 2003 (the "Safe Harbour Regulation").

      Purpose
      The purpose of the share buy-back programme is to adjust Vestas’ capital structure and to meet the obligations arising from employee share option programmes or other allocations of shares to employees of Vestas.

      At Vestas' annual general meeting in 2016, a resolution will be proposed that shares acquired, which are not used for hedging purposes of the ongoing incentives programmes, will be cancelled.

      Time frame
      The share buy-back programme will run from 5 November 2015 to 31 December 2015.

      Terms
      Vestas has appointed Nordea as lead manager for the share buy-back programme. Nordea will make its own trading decisions independently of and without influence or involvement from Vestas.

      Under the share buy-back programme Vestas may repurchase shares up to a maximum amount of DKK 1,120 million, and no more than 19,268,107 shares, corresponding to 8.6 percent of the share capital of Vestas Wind Systems A/S.

      No shares may be bought back at a price exceeding the higher of i) share price of latest independent trade and ii) the highest current independent bid at Nasdaq Copenhagen or other regulated markets, on which the purchase is carried out, at the time of trading.

      The maximum number of shares that may be purchased on each business day may not exceed 25 percent of the average daily trading volume of shares on Nasdaq Copenhagen or other regulated markets, on which the purchase is carried out, over last 20 trading days prior to the date of purchase.

      Prior to the share buy-back, Vestas holds 3,139,344 treasury shares, equal to 1.4 percent of the share capital.

      Vestas is entitled to suspend or stop the programme at any time subject to an announcement to Nasdaq Copenhagen.

      On a weekly basis, Vestas will issue an announcement in respect of transactions made under the programme.

      Contact details
      Vestas Wind Systems A/S, Denmark

      Hans Martin Smith, Senior Vice President, Investor Relations
      Tel: +45 9730 8209

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

      Download Company announcement (pdf)

       

      Close article
      08:35 - 05 Nov 2015

      Interim financial report, third quarter 2015

      Revenue, earnings, and free cash flow increased compared to the third quarter of 2014. Outlook for 2015 upgraded on revenue, EBIT margin before special items, and free cash flow.

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      Revenue, earnings, and free cash flow increased compared to the third quarter of 2014. Outlook for 2015 upgraded on revenue, EBIT margin before special items, and free cash flow.

      Summary
      In the third quarter of 2015, Vestas generated revenue of EUR 2,120m – an increase of 17 percent compared to the year-earlier period. EBIT before special items increased by EUR 69m to EUR 232m. The EBIT margin before special items was 10.9 percent and the free cash flow increased by EUR 53m to EUR 158m compared to the third quarter of 2014.

      The intake of firm and unconditional wind turbine orders amounted to 1,508 MW in the third quarter of 2015. The value of the wind turbine order backlog amounted to EUR 8.2bn at 30 September 2015. In addition to the wind turbine order backlog, Vestas had service agreements with contractual future revenue of EUR 8.2bn at the end of September 2015. Thus, the value of the combined backlog of wind turbine orders and service agreements stood at EUR 16.4bn – an increase of EUR 3.0bn compared to the year-earlier period. 

      Vestas upgrades the 2015 guidance of revenue from minimum EUR 7.5bn to EUR 8.0bn-8.5bn, EBIT margin before special items from minimum 8.5 percent to 9-10 percent, and free cash flow from minimum EUR 600m to EUR 800m-1,000m. The upgrades are based mainly on improved delivery visibility for the remainder of the year.

      Group President & CEO Anders Runevad said: “Vestas has delivered another quarter with strong results on key financial and operational parameters. With greater clarity on deliveries for the remainder of the year and a very solid financial position, we are raising our guidance on revenue, EBIT margin, and free cash flow and initiating a share buy-back programme.  I am very pleased that year-on-year for orders, Vestas is growing in all regions, consistent with our profitable growth strategy.”

      Key highlights

      Earnings improved
      EBIT before special items at 10.9 percent – up 1.9 percentage points compared to Q3 2014.

      Combined backlog continues at high level
      Wind turbine and service order backlog of EUR 16.4bn.

      Return on invested capital (ROIC) continues strong upward trend
      ROIC increased to 71 percent (TTM).

      Guidance increased
      Guidance for 2015 increased on revenue, EBIT margin, and free cash flow based mainly on delivery visibility for the remainder of the year.

      Share buy-back programme
      EUR 150m share buy-back programme to adjust capital structure.

      Information meeting (audiocast)
      On Thursday 5 November 2015 at 10 a.m. CET (9 a.m. GMT), Vestas will host an information meeting via an audiocast. The audiocast will be accessible via vestas.com/investor.

      The meeting will be held in English and questions may be asked through a conference call.

      The telephone numbers for the conference call are:

      Europe: +44 203 428 1402
      USA: +1 866 388 1923
      Denmark: +45 8233 3176

      Presentation material for the information meeting will be available approx one hour before the meeting at vestas.com/investor.

      Contact details
      Vestas Wind Systems A/S, Denmark
      Hans Martin Smith, Senior Vice President,
      Investor Relations
      Tel: +45 9730 8209

      Download the interim financial report for Q3 2015

       

       

       

      Close article
      15:16 - 26 Oct 2015

      MHI Vestas Offshore Wind receives 165 MW order for project in Belgium, for which Vestas Wind Systems A/S will deliver the turbines   

      MHI Vestas Offshore Wind receives 165 MW order for project in Belgium, for which Vestas Wind Systems A/S will deliver the turbines 

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      MHI Vestas Offshore Wind has received a firm and unconditional order for 50 V112-3.3 MW turbines for the Nobelwind offshore project in Belgium, with a total capacity of 165 MW, ref. Company announcement no. 2/2015 of 8 January 2015. Included in the contract between MHI Vestas Offshore Wind and customer Parkwind NW is a 15-year full-scope service agreement.

      As the order comprises Vestas V112-3.3 MW turbines, the turbines will be supplied by Vestas Wind Systems A/S to MHI Vestas Offshore Wind and the order will enter into the backlog of Vestas Wind Systems A/S.
       
      Additional information about the project (as supplied from Vestas to MHI Vestas Offshore Wind):

      Customer: MHI Vestas Offshore Wind   
      Project name: Nobelwind
      Location/Country: Belgium
      Number of MW: 165 MW
      Number of turbines/turbine type 50 V112-3.3 MW turbines
      Contract type: Supply-only
      Time of delivery Delivery of the turbines is expected in 2016, with commissioning planned to take place in 2017.

      Total year-to-date announced order intake in MW: 6,208 MW, (see vestas.com/investor).

      Contact details
      Vestas Wind Systems A/S, Denmark
      Hans Martin Smith, Senior Vice President, Investor Relations
      Tel: +45 9730 8209

      MHI Vestas Offshore Wind
      Matt Whitby, Press Officer
      Tel: +45 2250 7131
      Email: matke@mhivestasoffshore.com

      A news release regarding the above-mentioned order will also be published by MHI Vestas Offshore Wind on http://www.mhivestasoffshore.com/media/.

      Download Company announcement (pdf)

      Close article
      11:07 - 19 Oct 2015

      Additional information in the market regarding MHI Vestas Offshore Wind and the Navitus Bay offshore project in the UK

         

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      Today, there is additional information in the market regarding the Navitus Bay project, an offshore project in the UK, for which MHI Vestas Offshore Wind was appointed preferred supplier earlier this year, ref. company announcement No. 25/2015 of 21 May 2015.

      Vestas can confirm that Navitus Bay Development Limited has informed that it has decided not to challenge the decision by the UK Secretary of State to refuse consent for the proposed Navitus Bay project.  

      As MHI Vestas Offshore Wind had only been appointed preferred supplier for the potential order and hence the project had not achieved status as a firm and unconditional order, the decision by Navitus Bay Development Limited will not impact the order backlog of MHI Vestas Offshore Wind.

      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
      Hans Martin Smith, Senior Vice President, Investor Relations
      Tel: +45 9730 8209

      Download Company announcement (pdf)

       

      More information about this announcement can be found at http://www.mhivestasoffshore.com/media/

      MHI Vestas Offshore Wind is a joint venture between Vestas Wind Systems A/S (50 percent) and Mitsubishi Heavy Industries (MHI) (50 percent). The company’s sole focus is to design, manufacture, install and service wind turbines for the offshore wind industry.

      MHI Vestas Offshore Wind
      Matt Whitby, Press Officer
      Tel: +45 2250 7131
      Email: matke@mhivestasoffshore.com

      Close article
      23:52 - 15 Oct 2015

      Vestas receives 144 MW order in the USA

      Vestas has received a firm and unconditional order in Michigan, USA, for 72 V110-2.0 MW turbines, with a total capacity of 144 MW.

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      Vestas has received a firm and unconditional order in Michigan, USA, for 72 V110-2.0 MW turbines, with a total capacity of 144 MW.

      Additional information about the project:

      Customer: Undisclosed at the customer’s request.
      Project name: Undisclosed at the customer’s request.
      Location/Country: Michigan, USA
      Number of MW: 144 MW
      Number of turbines/turbine type 72 x V110-2.0 MW turbines
      Contract type: Supply-only
      Contract scope: The contract includes supply and commissioning of the wind turbines, as well as a 10-year Active Output Management 5000 service agreement.
      Time of delivery Delivery and commissioning of the wind turbines are expected to take place in second half of 2016.

      Total year-to-date announced order intake in MW: 6,043 MW, (see vestas.com/investor).

      Contact details

      Vestas Wind Systems A/S, Denmark
      Hans Martin Smith, Senior Vice President, Investor Relations
      Tel: +45 9730 8209

      Vestas-American Technology
      Chris Brown, President

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

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

      Download company announcement (pdf)

       

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      00:05 - 01 Oct 2015

      Vestas receives 150 MW order in the USA

      Vestas has received a firm and unconditional order in the USA for 75 2.0 MW turbines, totalling 150 MW.

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      Vestas has received a firm and unconditional order in the USA for 75 2.0 MW turbines, totalling 150 MW.

      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: 150 MW
      Number of turbines/turbine type 75 2.0 MW turbines
      Contract type: Supply-only
      Contract scope: The contract includes supply and commissioning of the wind turbines, as well as a five-year customised Active Output Management service agreement.
      Time of delivery Delivery of the wind turbines is expected in third quarter of 2016, while commissioning is expected in fourth quarter of 2016.

      Total year-to-date announced order intake in MW: 5,899 MW, (see vestas.com/investor).

      Contact details

      Vestas Wind Systems A/S, Denmark
      Hans Martin Smith, Senior Vice President, Investor Relations
      Tel: +45 9730 8209

      Vestas-American Technology
      Chris Brown, President

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

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

      Download company announcement (pdf)

       

      Close article
      12:37 - 30 Sep 2015

      Vestas receives 93 MW order in Finland

      Vestas has received a firm and unconditional order for 27 V126-3.45 MW turbines in Finland, comprising a total of 93 MW.

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      Vestas has received a firm and unconditional order for 27 V126-3.45 MW turbines in Finland, comprising a total of 93 MW.

      Additional information about the project:

      Customer: TuuliWatti Oy
      Project name: Simo III
      Location/Country: Simo, Finland
      Number of MW: 93 MW
      Number of turbines/turbine type 27 x V126-3.45 MW turbines
      Contract type: Supply-and-installation
      Contract scope: The contract includes supply, installation and commissioning of the wind turbines, together with a 10-year Active Output Management 5000 service agreement.
      Time of delivery The delivery of turbines is expected to begin in 2016, with commissioning in 2016 and 2017.

      Total year-to-date announced order intake in MW: 5,749 MW, (see vestas.com/investor).

      Contact details

      Vestas Wind Systems A/S, Denmark
      Hans Martin Smith, Senior Vice President, Investor Relations
      Tel: +45 9730 8209

      Vestas Northern Europe
      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)

      Download news release (pdf)

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      16:14 - 29 Sep 2015

      Vestas receives 126 MW order in Thailand

      Vestas has received a firm and unconditional order for 70 V110-1.8 MW turbines for a project in Thailand, with a total capacity of 126 MW.

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      Vestas has received a firm and unconditional order for 70 V110-1.8 MW turbines for a project in Thailand, with a total capacity of 126 MW.

      Additional information about the project:

      Customer: Energy Absolute PCL
      Project name(s): Had Kanghan 1, 2 and 3
      Location/Country: Thailand
      Number of MW: 126 MW
      Number of turbines/turbine type 70 x V110-1.8 MW turbines
      Contract type: Supply-only
      Contract scope: The contract covers supply, supervision of the installation, and commissioning of the wind turbines, and includes a five-year Active Output Management 4000 service agreement.
      Time of delivery Delivery is expected in 2016 with commissioning in the same year.

      Total year-to-date announced order intake in MW: 5,656 MW, (see vestas.com/investor).

      Contact details

      Vestas Wind Systems A/S, Denmark
      Hans Martin Smith, Senior Vice President, Investor Relations
      Tel: +45 9730 8209

      Vestas Asia Pacific & China
      Chris Beaufait, President

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

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

      A news release from Vestas Asia Pacific & China 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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      20:45 - 11 Sep 2015

      Vestas receives 200 MW order in the USA

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      Vestas has received a firm and unconditional order for 100 V100-2.0 MW turbines in North Dakota, USA, with a total capacity of 200 MW (ref. company announcement No. 40/2015 of 9 July 2015).

      Additional information about the project:

      Customer: Xcel Energy Inc.
      Project name: Courtenay
      Location/Country: North Dakota, USA
      Number of MW: 200 MW
      Number of turbines/turbine type 100 x V100-2.0 MW turbines
      Contract type: Supply-only
      Contract scope: The contract includes supply and commissioning of the wind turbines, as well as a three-year Active Output Management 4000 service agreement.
      Time of delivery Delivery of the wind turbines is expected to begin in third quarter of 2016, with commissioning planned for fourth quarter of 2016.

      Total year-to-date announced order intake in MW: 5,506 MW, (see vestas.com/investor).

      Contact details
      Vestas Wind Systems A/S, Denmark
      Hans Martin Smith, Senior Vice President, Investor Relations
      Tel: +45 9730 8209 

      Vestas-American Wind Technology
      Chris Brown, President 

      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)

      Download news release (pdf)

      Close article
      19:52 - 02 Sep 2015

      Vestas receives 70 MW order in Uruguay

      Vestas has received a firm and unconditional order for 35 V110-2.0 MW turbines in Uruguay, with a total capacity of 70 MW.

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      Vestas has received a firm and unconditional order for 35 V110-2.0 MW turbines in Uruguay, with a total capacity of 70 MW.

      Additional information about the project:

      Customer: Teyma Uruguay S.A.
      Project name: Palomas
      Location/Country: Departamento de Salto, Uruguay
      Number of MW: 70 MW
      Number of turbines/turbine type 35 x V110-2.0 MW turbines
      Contract type: Supply-and-installation
      Contract scope: The contract includes supply, installation and commissioning of the wind turbines, together with a 10-year Active Output Management 4000 service agreement.
      Time of delivery Delivery of the wind turbines is expected to take place in first quarter of 2016, with commissioning expected in second quarter of 2016.

      Total year-to-date announced order intake in MW: 5,266 MW, (see vestas.com/investor).

      Contact details
      Vestas Wind Systems A/S, Denmark
      Hans Martin Smith, Senior Vice President, Investor Relations
      Tel: +45 9730 8209

      Vestas Mediterranean
      Marco Graziano, President 

      For more information, or to arrange an interview with Marco Graziano, please contact:

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

      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)

      Close article
      10:33 - 28 Aug 2015

      Vestas receives 73 MW order in Finland

      Vestas has received a firm and unconditional order in Finland, comprising 22 V117-3.3 MW turbines, with a total capacity of 73 MW.

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      Vestas has received a firm and unconditional order in Finland, comprising 22 V117-3.3 MW turbines, with a total capacity of 73 MW.

      Additional information about the project:

      Customer: wpd
      Project name: Tohkoja
      Location/Country: Kalajoki, Finland
      Number of MW: 73 MW
      Number of turbines/turbine type 22 x V117-3.3 MW turbines
      Contract type: Supply-and-installation
      Contract scope: The contract includes supply, installation, and commission-ing of the wind turbines, as well as a 15-year Active Output Management 5000 service agreement. In addition, the contract includes the Vestas De-icing System (VDS).
      Time of delivery Delivery of the wind turbines is expected to begin in the second quarter of 2016, with commissioning expected to be completed in the fourth quarter of 2016.

      Total year-to-date announced order intake in MW: 5,163 MW, (see vestas.com/investor).

      Contact details
      Vestas Wind Systems A/S, Denmark
      Hans Martin Smith, Senior Vice President, Investor Relations
      Tel: +45 9730 8209

      Vestas Northern Europe,
      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)

      Download news release (pdf)

      Close article
      11:49 - 24 Aug 2015

      Additional information in the market regarding MHI Vestas Offshore Wind and an offshore project in Germany

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      Today there is additional information in the market regarding an offshore project in Germany (ref. company announcement No. 31/2015 of 10 June 2015).

      Vestas can confirm that DONG Energy and MHI Vestas Offshore Wind have entered into a conditional agreement regarding delivery of the V164-8.0 MW turbine for the 450 MW Borkum Riffgrund II project in Germany.

      If and when the project translates into a firm and unconditional order, 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
      Hans Martin Smith, Senior Vice President, Investor Relations
      Tel: +45 9730 8209



      More information about this announcement can be found at http://www.mhivestasoffshore.com/media/.

      MHI Vestas Offshore Wind is a joint venture between Vestas Wind Systems A/S (50 percent) and Mitsubishi Heavy Industries (MHI) (50 percent). The company’s sole focus is to design, manufacture, install and service wind turbines for the offshore wind industry.

      MHI Vestas Offshore Wind
      Matt Whitby, Press Officer
      Tel: +45 2250 7131
      Email: matke@mhivestasoffshore.com

      Download Company announcement (pdf)

       

      Close article
      08:34 - 19 Aug 2015

      Interim Financial report, second quarter 2015

      Revenue, earnings, and free cash flow increased compared to the second quarter of 2014. Outlook for 2015 maintained.

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      Revenue, earnings, and free cash flow increased compared to the second quarter of 2014. Outlook for 2015 maintained.

      Summary: In the second quarter of 2015, Vestas generated revenue of EUR 1,749m – an increase of 30 percent compared to the year-earlier period. EBIT before special items increased by EUR 41m to EUR 145m. The EBIT margin before special items was 8.3 percent and the free cash flow increased by EUR 204m to EUR 183m compared to the second quarter of 2014.

      The intake of firm and unconditional wind turbine orders amounted to 3,018 MW in the second quarter of 2015. The value of the wind turbine order backlog amounted to EUR 8.8bn at 30 June 2015. In addition to the wind turbine order backlog, Vestas had service agreements with contractual future revenue of EUR 8.1bn at the end of June 2015. Thus, the value of the combined backlog of wind turbine orders and service agreements stood at EUR 16.9bn – an increase of EUR 3.0bn compared to the year-earlier period.

      Vestas maintains its full-year guidance of revenue of minimum EUR 7.5bn, an EBIT margin before special items of minimum 8.5 percent, total investments of approx EUR 350m, and free cash flow of minimum EUR 600m.

      Group President & CEO Anders Runevad said: “Vestas continued to execute well on our strategy in the second quarter of 2015, delivering a strong result on our key financial and operational parameters. Order intake was particularly strong, and with a combined order backlog of EUR 16.9bn we are well-positioned for the future. I am very pleased with our employees’ performance across the globe, which secures Vestas’ position as the wind industry leader. The profitable growth strategy is firmly on track as we leverage our key strengths – global reach, technology & service leadership, and scale”.

      Key highlights

      Very strong order intake in the quarter
      Order intake in Q2 2015 reached 3,018 MW – up 56 percent.

      Largest combined order backlog ever
      Wind turbine and service order backlog of EUR 16.9bn.

      Return on invested capital (ROIC) remains at record high level
      ROIC increased to 55 percent (TTM).

      Earnings continue to improve
      EBIT before special items of EUR 145m – up 39 percent – equal to a margin of 8.3 percent.

      Continued strong cash flow
      Free cash flow of EUR 183m strongly impacted by an increase in the cash flow from operating activities.

      Information meeting (audiocast)
      Today, Wednesday 19 August 2015, at 10 a.m. CEST (9 a.m. BST), Vestas will host an information meeting via an audiocast. The audiocast will be accessible via vestas.com/investor.

      The meeting will be held in English and questions may be asked through a conference call. The telephone numbers for the conference call are:

      Europe: +44 203 428 1408
      USA: +1 866 388 1923
      Denmark: +45 8233 3178

      Contact details
      Vestas Wind Systems A/S, Denmark
      Hans Martin Smith, Senior Vice President, Investor Relations
      Tel: +45 9730 8209

      Vestas Wind Systems A/S
      Hedeager 42
      8200 Aarhus N
      Denmark

      Company reg. No.: 10 40 37 82
      Tel: +45 9730 0000
      Fax: +45 9730 0001
      vestas@vestas.com

      Download the interim financial report for Q2 2015

      Close article
      19:52 - 11 Aug 2015

      Vestas receives 100 MW order in the USA

      Vestas has received a firm and unconditional order in the USA, consisting of 50 V110-2.0 MW turbines, with a total capacity of 100 MW.

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      Vestas has received a firm and unconditional order in the USA, consisting of 50 V110-2.0 MW turbines, with a total capacity of 100 MW.

      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: 100 MW
      Number of turbines/turbine type 50 x V110-2.0 MW turbines
      Contract type: Supply-only
      Contract scope: The contract 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 of the wind turbines is expected to take place during third quarter of 2016.

      Total year-to-date announced order intake in MW: 4,435 MW, (see vestas.com/investor).

      Contact details
      Vestas Wind Systems A/S, Denmark
      Hans Martin Smith, Senior Vice President, Investor Relations
      Tel: +45 9730 8209

      Vestas-American Wind technology
      Chris Brown, President 

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

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

      Download company announcement (pdf)

      Close article
      23:40 - 09 Jul 2015

      Information in the market regarding project in the USA

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      Today there is information in the market regarding a project in North Dakota, USA, owned by Xcel Energy and with a potential of up to 200 MW.

      If and when 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
      Hans Martin Smith, Senior Vice President, Investor Relations
      Tel.: +45 9730 8209

       

      Download pdf

      Close article
      22:47 - 30 Jun 2015

      Vestas receives 108 MW order in the USA

      Vestas has received a firm and unconditional order in the USA for 54 V110-2.0 MW turbines, totalling 108 MW.

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      Vestas has received a firm and unconditional order in the USA for 54 V110-2.0 MW turbines, totalling 108 MW.

      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: 108 MW
      Number of turbines/turbine type 54 x V110-2.0 MW turbines
      Contract type: Supply-only
      Contract scope: The contract includes supply and commissioning of the wind turbines, as well as a five-year customised Active Output Management service agreement.
      Time of delivery Delivery of the wind turbines is expected in third quarter of 2016, while commissioning is expected in fourth quarter of 2016.

      Total year-to-date announced order intake in MW:  4,217 MW, (see overview at: vestas.com/investor).

      Contact details
      Vestas Wind Systems A/S, Denmark
      Hans Martin Smith, Senior Vice President, Investor Relations
      Tel: +45 9730 8209

      Vestas-American Technology
      Chris Brown, President 

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

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

      Download company announcement (pdf)

       

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      21:43 - 30 Jun 2015

      Vestas receives 274 MW order in the USA

      Vestas has received a firm and unconditional order in the USA for 83 V117-3.3 MW turbines corresponding to 274 MW.

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      Vestas has received a firm and unconditional order in the USA for 83 V117-3.3 MW turbines corresponding to 274 MW.

      Additional information about the project:

      Customer: SunEdison
      Project name: Undisclosed at the customer’s request.
      Location/Country: Texas, USA
      Number of MW: 274 MW
      Number of turbines/turbine type 83 x V117-3.3 MW turbines
      Contract type: Supply-only
      Contract scope: The order comprises supply and commissioning of the wind turbines, as well as a 10-year Active Output Management (AOM 5000) service agreement.
      Time of delivery Commissioning is expected in the first half of 2016.

      Total year-to-date announced order intake in MW: 4,109 MW, (see vestas.com/investor).

      Contact details
      Vestas Wind Systems A/S, Denmark
      Hans Martin Smith, Senior Vice President, Investor Relations
      Tel: +45 9730 8209

      Vestas-American Wind Technology
      Chris Brown, President

      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)

      Download news release (pdf)

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      19:42 - 30 Jun 2015

      Vestas receives 155 MW order in the USA

      Vestas has received a firm and unconditional order in the USA for 47 V112-3.3 MW turbines, with a total capacity of 155 MW.

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      Vestas has received a firm and unconditional order in the USA for 47 V112-3.3 MW turbines, with a total capacity of 155 MW.

      Additional information about the project:

      Customer: SunEdison
      Project name: Bingham
      Location/Country: Maine, USA
      Number of MW: 155 MW
      Number of turbines/turbine type 47 x V112-3.3 MW turbines
      Contract type: Supply-only
      Contract scope: The contract includes supply and commissioning of the wind turbines, as well as a 10-year Active Output Management (AOM 5000) service agreement.
      Time of delivery Commissioning is expected in the second half of 2016.

      Total year-to-date announced order intake in MW: 3,835 MW, (see vestas.com/investor).

      Contact details
      Vestas Wind Systems A/S, Denmark
      Hans Martin Smith, Senior Vice President, Investor Relations
      Tel: +45 9730 8209

      Vestas-American Wind Technology
      Chris Brown, President

      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)

      Download news release (pdf)

      Close article
      15:31 - 29 Jun 2015

      Information in the market regarding MHI Offshore Wind and an offshore project in Denmark

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      Today, there is information in the market regarding MHI Vestas Offshore Wind having been appointed preferred supplier for an offshore project in Denmark.

      Vestas can confirm that Vattenfall has appointed MHI Vestas Offshore Wind preferred supplier for delivery of the V164-8.0 MW turbine for the 400 MW Horns Rev 3 project in Denmark.

      If and when the project translates into a firm and unconditional order, 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
      Hans Martin Smith, Senior Vice President, Investor Relations
      Tel.: +45 9730 8209

      More information about this announcement can be found at http://www.mhivestasoffshore.com/media/.

      MHI Vestas Offshore Wind is a joint venture between Vestas Wind Systems A/S (50 per cent) and Mitsubishi Heavy Industries (MHI) (50 per cent). The company’s sole focus is to design, manufacture, install and service wind turbines for the offshore wind industry.

      MHI Vestas Offshore Wind
      Matt Whitby, Press Officer
      Tel.: +45 2250 7131
      Email: matke@mhivestasoffshore.com


      Download Company announcement
       (pdf)

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      21:48 - 28 Jun 2015

      Vestas receives 185 MW order in Chile

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      Vestas has received a firm and unconditional order for 56 V117-3.3 MW turbines for a project in Chile, totalling 185 MW (ref. company announcement No. 22/2015 of 18 May 2015).

      Additional information about the project:

      Customer: Latin America Power (LAP)
      Project name: San Juan
      Location/Country: Atacama, Chile
      Number of MW: 185 MW
      Number of turbines/turbine type 56 x V117-3.3 MW turbines
      Contract type: Supply-and-installation
      Contract scope: The contract includes supply and installation of the wind turbines, as well as a five-year full-scope Active Output Management (AOM 4000) service agreement.
      Time of delivery Turbine delivery is scheduled for the first quarter of 2016, whilst commissioning is expected in the fourth quarter of 2016.

      Total year-to-date announced order intake in MW: 3,608 MW, (see vestas.com/investor).

      Contact details

      Vestas Wind Systems A/S, Denmark
      Hans Martin Smith, Senior Vice President, Investor Relations
      Tel: +45 9730 8209

      Vestas Mediterranean
      Marco Graziano, President

      For more information, or to arrange an interview with Marco Graziano, please contact:

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

      Download company announcement (pdf)

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      23:28 - 25 Jun 2015

      Vestas receives 150 MW order in the USA

      Vestas has received a firm and unconditional order in Texas, USA, for 75 V100-2.0 MW turbines, totalling 150 MW.

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      Vestas has received a firm and unconditional order in Texas, USA, for 75 V100-2.0 MW turbines, totalling 150 MW.

      Additional information about the project:

      Customer: EDF Renewable Energy
      Project name: Salt Fork
      Location/Country: Texas, USA
      Number of MW: 150 MW
      Number of turbines/turbine type 75 x V100-2.0 MW turbines
      Contract type: Supply-only
      Contract scope: The contract covers supply and commissioning of the wind turbines, as well as a three-year Active Output Management (AOM 5000) service agreement.
      Time of delivery Delivery of the wind turbines is expected to take place in third quarter of 2016, with commissioning expected in fourth quarter of 2016.

      Total year-to-date announced order intake in MW: 3,357 MW, (see vestas.com/investor).

      Contact details
      Vestas Wind Systems A/S, Denmark
      Hans Martin Smith, Senior Vice President, Investor Relations
      Tel.: +45 9730 8209

      Vestas-American Wind Technology
      Chris Brown, President 

      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)

      Download news release (pdf)

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      09:46 - 24 Jun 2015

      Decision regarding criminal charges against former Chief Financial Officer

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      The Danish State Prosecutor for Serious Economic and International Crime (the Fraud Squad) has informed Vestas that it will not pursue criminal charges against former Vestas CFO Henrik Nørremark in the matter relating to financial transactions with a former Indian cooperation partner, ref. company announcements No. 36/2012 of 2 October 2012 and No. 22/2013 of 24 May 2013

      The Fraud Squad has said it has not been able to identify sufficiently compelling evidence to lead to a conviction, c.f. the Danish Procedural Act §721, article 1 no. 2. 

      Vestas and the company’s external advisors completed several comprehensive investigations of the case without being able to conclude what the money in question had been spent on or why the transactions had been made.  To determine if criminal violations had taken place, Vestas referred the case to the Fraud Squad for further investigation. As was the case for Vestas, the Fraud Squad has been unable to determine what happened to the money after it was transferred to India.

      Despite the decision regarding criminal charges, Vestas continues to believe that by entering into these agreements, the former CFO significantly exceeded his powers as Group Executive. As such, the civil cases between Vestas and the former CFO in the Aarhus and Indian courts will remain unaffected.



      Contact details

      Vestas Wind Systems A/S, Denmark

      Michael Zarin, Head of External Communications & Media Relations
      Tel: +45 4084 1526
      Email: mizar@vestas.com

      Hans Martin Smith, Senior Vice President, Investor Relations
      Tel:  +45 9730 8209
      Email: hamsm@vestas.com

      Download Company announcement (pdf)

       

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      13:13 - 11 Jun 2015

      Additional information in the market regarding MHI Vestas Offshore Wind and an offshore project in the UK

      Vestas can confirm that DONG Energy and MHI Vestas Offshore Wind have entered into a conditional agreement regarding phase 1 of the Walney Extension Offshore Wind Farm, comprising 330 MW.

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      Vestas can confirm that DONG Energy and MHI Vestas Offshore Wind have entered into a conditional agreement regarding phase 1 of the Walney Extension Offshore Wind Farm, comprising 330 MW.

      Today there is additional information in the market regarding an offshore project in the UK (ref. company announcement No. 9/2015 of 18 February 2015).

      Vestas can confirm that DONG Energy and MHI Vestas Offshore Wind have entered into a conditional agreement regarding phase 1 of the Walney Extension Offshore Wind Farm, comprising 330 MW.

      If and when the project translates into a firm and unconditional order, 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
      Hans Martin Smith, Senior Vice President, Investor Relations
      Tel.: +45 9730 8209



      MHI Vestas Offshore Wind is a joint venture between Vestas Wind Systems A/S (50 percent) and Mitsubishi Heavy Industries (MHI) (50 percent). The company’s sole focus is to design, manufacture, install and service wind turbines for the offshore wind industry.

      MHI Vestas Offshore Wind
      Matt Whitby, Press Officer
      Tel.: +45 2250 7131
      Email: matke@mhivestasoffshore.com

      Download Company announcement (pdf)

      Close article
      10:22 - 10 Jun 2015

      Information in the market regarding MHI Vestas Offshore Wind and an offshore project in Germany

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

      Vestas can confirm that DONG Energy A/S has appointed MHI Vestas Offshore Wind preferred supplier for delivery of the V164-8.0 turbine for the 450 MW Borkum Riffgrund II project in Germany.

      If and when the project translates into a firm and unconditional order, 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
      Hans Martin Smith, Senior Vice President, Investor Relations
      Tel: +45 9730 8209


      More information about this announcement can be found at http://www.mhivestasoffshore.com/media/.

      MHI Vestas Offshore Wind is a joint venture between Vestas Wind Systems A/S (50 percent) and Mitsubishi Heavy Industries (MHI) (50 percent). The company’s sole focus is to design, manufacture, install and service wind turbines for the offshore wind industry.

      Matt Whitby, Press Officer
      MHI Vestas Offshore Wind
      Tel: +45 2250 7131
      Mail: matke@mhivestasoffshore.com

      Download Company announcement (pdf)

       

      Close article
      09:56 - 04 Jun 2015

      Additional information in the market regarding projects in Norway

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      Today, there is information in the market regarding six planned wind power plants in Norway, where Vestas was appointed preferred supplier, ref. company announcement No. 3/2015 of 19 January 2015.Vestas can confirm that Statkraft has informed Vestas that Statkraft has decided not to invest in these projects.

      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
      Hans Martin Smith, Senior Vice President, Investor Relations
      Tel.: +45 9730 8209

      Download Company announcement (pdf)

       

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      22:19 - 03 Jun 2015

      Vestas Wind Systems A/S extends maturity on revolving credit facility

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      Vestas Wind Systems A/S has signed a new EUR 1.050bn revolving credit facility, available for loans as well as project-related guarantees (sub-limit for loans of up to EUR 500m).

      The new facility has a five-year duration with an option (at the lenders’ discretion) to extend the maturity for up to two additional years (5+1+1). The facility refinances the existing EUR 1.000bn revolving credit facility dated 31 March 2014 (ref.Company announcement no. 15/2014) and enables Vestas to extend the company’s debt maturity profile at favourable pricing and terms.

      The facility was arranged by seven banks comprising Nordea, HSBC, SEB, DNB, Unicredit, Société Générale, and Citigroup.

      Contact details
      Vestas Wind Systems A/S, Denmark

      Hans Martin Smith, Senior Vice President, Investor Relations
      Tel: +45 9730 8209

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

      Download Company announcement (pdf)

       

       

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      23:51 - 28 May 2015

      Vestas receives 99 MW order in Mexico


      Vestas has received a firm and unconditional order in Mexico for 30 V112-3.3 MW turbines, with a total capacity of 99 MW.

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      Vestas has received a firm and unconditional order in Mexico for 30 V112-3.3 MW turbines, with a total capacity of 99 MW.

      Additional information about the project:

      Customer: Isolux de Mexico S.A. de C.V
      Project name: La Mesa & Ciudad Victoria
      Location/Country: Tamaulipas, Mexico
      Number of MW: 99 MW
      Number of turbines/turbine type 30 x V112-3.3 MW turbines
      Contract type: Supply-and-installation
      Contract scope: The contract includes supply, installation and commissioning of the wind turbines, as well as a 15-year Active Output Management (AOM) 4000 service agreement.
      Time of delivery Delivery of the wind turbines is expected to take place in fourth quarter of 2015, with commissioning expected in third quarter of 2016.

      Total year-to-date announced order intake in MW: 3,167 MW, (see vestas.com/investor).

      Contact details
      Vestas Wind Systems A/S, Denmark
      Hans Martin Smith, Senior Vice President, Investor Relations
      Tel: +45 9730 8209

      Vestas Mediterranean
      Marco Graziano, President

      For more information, or to arrange an interview with Marco Graziano, please contact:

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

      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)

      Close article
      19:46 - 27 May 2015

      Vestas receives 83 MW order in Turkey

      Vestas has received a firm and unconditional order in Turkey, comprising 25 V126-3.3 MW turbines, with a total capacity of 82.5 MW.

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      Vestas has received a firm and unconditional order in Turkey, comprising 25 V126-3.3 MW turbines, with a total capacity of 82.5 MW.

      Additional information about the project:

      Customer: Bak Enerji Üretimi A.Ş
      Project name: Yahyali
      Location/Country: Turkey
      Number of MW: 82.5 MW
      Number of turbines/turbine type 25 x V126-3.3 MW turbines
      Contract type: Supply-and-installation
      Contract scope: The contract covers supply, installation and commissioning of the wind turbines, as well as a 10-year Active Output Management (AOM 4000) service agreement.
      Time of delivery Delivery of the wind turbines is expected to take place in first quarter of 2016, with commissioning expected to take place in second half of 2016.

      Total year-to-date announced order intake in MW: 3,068 MW, (see vestas.com/investor).

      Contact details
      Vestas Wind Systems A/S, Denmark
      Hans Martin Smith, Senior Vice President, Investor Relations
      Tel: +45 9730 8209

      Vestas Mediterranean
      Marco Graziano, President

      For more information, or to arrange an interview with Marco Graziano, please contact:

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

      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)

      Close article
      11:46 - 25 May 2015

      Vestas receives 83 MW order in Poland

      Vestas has received a firm and unconditional order in Poland, comprising 25 V126-3.3 MW turbines, with a total capacity of 83 MW.

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      Vestas has received a firm and unconditional order in Poland, comprising 25 V126-3.3 MW turbines, with a total capacity of 83 MW.

      Additional information about the project:

      Customer: Wind Field Korytnica Sp. Z o.o.
      Project name: Korytnica North
      Location/Country: Poland
      Number of MW: 83 MW
      Number of turbines/turbine type 25 x V126-3.3 MW turbines
      Contract type: Supply-and-installation
      Contract scope: The order includes delivery, installation and commissioning of the wind turbines, as well as a 15-year Active Output Management (AOM) 5000 service agreement.
      Time of delivery Delivery and commissioning of the wind turbines is planned to take place in fourth quarter of 2015.

      Total year-to-date announced order intake in MW: 2,985 MW, (see vestas.com/investor).

      Contact details
      Vestas Wind Systems A/S, Denmark
      Hans Martin Smith, Senior Vice President, Investor Relations
      Tel.: +45 9730 8209

      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 orderwill also be published on vestas.com under “Company News”.

      Download company announcement (pdf)

      Download news release (pdf)

      Close article
      10:28 - 21 May 2015

      Information in the market regarding an offshore project in the UK

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

      Vestas can confirm that Navitus Bay Development Limited has appointed MHI Vestas Offshore Wind preferred supplier for the delivery of V164-8.0 MW turbines for an offshore project in the UK with a potential of up to 970 MW.

      If and when the project translates into a firm and unconditional order, 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).

      More information about this announcement can be found at http://www.mhivestasoffshore.com/media/.

      MHI Vestas Offshore Wind is a joint venture between Vestas Wind Systems A/S 50% and Mitsubishi Heavy Industries (MHI) 50%. The company’s sole focus is to design, manufacture, install and service wind turbines for the offshore wind industry.



      Contact details
      Vestas Wind Systems A/S, Denmark
      Hans Martin Smith, Senior Vice President, Investor Relations
      Tel.: +45 9730 8209

      Stewart Mullin, Director of Marketing & Communication
      MHI Vestas Offshore Wind
      Tel: +45 22461230 
      Mail: stmin@mhivestasoffshore.com

      Download Company announcement (pdf)

      Close article
      10:15 - 21 May 2015

      Information in the market regarding project in the USA

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      Today there is information in the market regarding a project in the USA, developed by RES Americas and with a potential of up to 150 MW.

      If and when 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
      Hans Martin Smith, Senior Vice President, Investor Relations
      Tel.: +45 9730 8209

      Download Company announcement (pdf)

      Close article
      11:42 - 18 May 2015

      MHI Vestas Offshore Wind receives 400 MW order for project in the UK and places an order for delivery of the turbines with Vestas Wind Systems A/S

      MHI Vestas Offshore Wind has received a firm and unconditional order for 116 V112-3.45 MW turbines for the Rampion offshore project in the UK, with a total capacity of 400 MW.

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      MHI Vestas Offshore Wind has received a firm and unconditional order for 116 V112-3.45 MW turbines for the Rampion offshore project in the UK, with a total capacity of 400 MW.

      As it comprises Vestas V112-3.45 MW turbines, the turbines will be supplied by Vestas Wind Systems A/S to MHI Vestas Offshore Wind and the order will enter into the backlog of Vestas Wind Systems A/S.
       
      Additional information about the project (as supplied from Vestas to MHI Vestas Offshore Wind):

      Customer: MHI Vestas Offshore Wind
      Project name: Rampion
      Location/Country: United Kingdom
      Number of MW: 400 MW
      Number of turbines/turbine type 116 V112-3.45 MW turbines
      Contract type: Supply-only
      Time of delivery Delivery of the turbines is expected to start in first quarter of 2017.

      Total year-to-date announced order intake in MW: 2,902 MW (see overview at vestas.com/investor).

      Contact details
      Vestas Wind Systems A/S, Denmark
      Hans Martin Smith, Senior Vice President, Investor Relations
      Tel: +45 9730 8209

      Stewart Mullin, Director of Marketing and Communications
      MHI Vestas Offshore Wind
      Tel: +45 22461230
      Mail: stmin@mhivestasoffshore.com

      A news release regarding the above-mentioned order will also be published by MHI Vestas Offshore Wind on http://www.mhivestasoffshore.com/media/.

      Download company announcement (pdf)

       

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      11:30 - 18 May 2015

      Information in the market regarding project in Chile

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      Today there is information in the market regarding a project in Chile comprising 185 MW.

      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
      Hans Martin Smith, Senior Vice President, Investor Relations
      Tel.: +45 9730 8209

      Download Company announcement (pdf)

       

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      09:52 - 08 May 2015

      Vestas receives 149 MW order in Mexico

      Vestas has received a firm and unconditional order in Mexico for 45 V117-3.3 MW turbines, corresponding to 149 MW.

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      Vestas has received a firm and unconditional order in Mexico for 45 V117-3.3 MW turbines, corresponding to 149 MW.

      Additional information about the project

      Customer: Eólica Tres Mesas, S. de R.L. de C.V. and Eólica Tres Me-sas 2, S. de R.L. de C.V.
      Project name(s): Tres Mesas, phase 1 & 2
      Location/Country: Mexico
      Number of MW: 149 MW
      Number of turbines/turbine type 45 x V117-3.3 MW turbines
      Contract type: Supply-and-installation
      Contract scope: The contract includes supply, installation, and commission-ing of the wind turbines as well as a 10-year full-scope Vestas Active Output Management (AOM) 5000 service agreement.
      Time of delivery Delivery of the wind turbines is expected to begin in the first quarter of 2016.

      Total year-to-date announced order intake in MW: 2,502 MW, (see vestas.com/investor).

      Contact details
      Vestas Wind Systems A/S, Denmark
      Hans Martin Smith, Senior Vice President, Investor Relations
      Tel.: +45 9730 8209 

      Vestas Mediterranean
      Marco Graziano, President

      For more information, or to arrange an interview with Marco Graziano, please contact:

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

      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)

      Close article
      08:35 - 06 May 2015

      Interim financial report, first quarter 2015

      Outlook for 2015 improved. Revenue, earnings, and free cash flow increased compared to the first quarter of 2014.

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      Outlook for 2015 improved. Revenue, earnings, and free cash flow increased compared to the first quarter of 2014.

      Summary: In the first quarter of 2015, Vestas generated revenue of EUR 1,519m – an increase of 18 percent compared to the year-earlier period. EBIT before special items increased by EUR 39m to EUR 79m. The EBIT margin before special items was 5.2 percent and the free cash flow increased by EUR 170m to EUR 146m compared to the first quarter of 2014.

      The intake of firm and unconditional wind turbine orders amounted to 1,750 MW in the first quarter of 2015. The value of the wind turbine backlog amounted to EUR 7.5bn at 31 March 2015. In addition to the wind turbine order backlog, Vestas had service agreements with contractual future revenue of EUR 7.5bn at the end of March 2015. Thus, the value of the combined backlog of wind turbine orders and service agreements stood at EUR 15bn – an increase of EUR 1.2bn compared to the year-earlier period.

      Vestas upgrades the 2015 guidance on revenue from minimum EUR 6.5bn to minimum EUR 7.5bn and EBIT margin guidance before special items is upgraded from minimum 7 percent to minimum 8.5 percent. Total investments are increased from approx EUR 300m to approx EUR 350m and guidance on free cash flow is upgraded from minimum EUR 400m to minimum EUR 600m.

      Group President & CEO Anders Runevad said:  “This has been a historically strong first quarter on revenue, margins, order intake, and return on invested capital. The first quarter results reaffirm that Vestas is making good progress toward achieving its profitable growth objectives and that we are in a very strong position in an otherwise highly competitive industry.”

      Key highlights

      Record-high Q1 order intake

      Order intake in the quarter 1,750 MW.

      Highest combined order backlog ever
      Wind turbine and service order backlog of EUR 15bn.

      Return on invested capital (ROIC) at highest level ever
      ROIC increased to 44 percent (TTM).

      Earnings improved – highest Q1 ever
      EBIT margin before special items at 5.2 percent – up 2.1 percentage points compared to Q1 2014.

      Guidance increased
      Guidance for 2015 has been increased based on higher than expected order intake year to date, greater visibility for the year, and USD exchange rate development.


      Information meeting (audiocast)
      Today, Wednesday 6 May 2015, at 10 a.m. CEST (9 a.m. BST), Vestas will host an information meeting via an audiocast. The audiocast will be accessible via vestas.com/investor.

      The meeting will be held in English 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

      Contact details
      Vestas Wind Systems A/S, Denmark
      Hans Martin Smith, Senior Vice President, Investor Relations
      Tel: +45 9730 8209

      Vestas Wind Systems A/S
      Hedeager 42
      8200 Aarhus N
      Denmark

      Company reg. No.: 10 40 37 82
      Tel: +45 9730 0000
      Fax: +45 9730 0001
      vestas@vestas.com

      Download the interim financial report for Q1 2015

      Close article
      18:16 - 05 May 2015

      Vestas receives 72 MW order in the USA

      Vestas has received a firm and unconditional order in Kansas, USA, for 36 V110-2.0 MW turbines, with a total of 72 MW.

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      Vestas has received a firm and unconditional order in Kansas, USA, for 36 V110-2.0 MW turbines, with a total of 72 MW.

      Additional information about the project

      Customer: RPM Access, LLC
      Project name: Marshall
      Location/Country: Kansas, USA
      Number of MW: 72 MW
      Number of turbines/turbine type 36 x V110-2.0 MW turbines
      Contract type: Supply-only
      Contract scope: The contract includes supply and commissioning of the wind turbines as well as a 20-year Active Output Management (AOM) 5000 service agreement
      Time of delivery Commissioning of the wind turbines is expected in the first half of 2016.

      Total year-to-date announced order intake in MW: 1,935 MW (see overview at vestas.com/investor).

      Contact details
      Vestas Wind Systems A/S, Denmark
      Hans Martin Smith, Senior Vice President, Investor Relations
      Tel.: +45 9730 8209

      Vestas-American Wind Technology
      Chris Brown, President 

      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)

      Download news release (pdf)

      Close article
      23:14 - 30 Apr 2015

      Vestas receives 400 MW order in the USA

      Vestas has received a firm and unconditional order in Nebraska, USA, for 200 V110-2.0 MW turbines, with a total of 400 MW.

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      Vestas has received a firm and unconditional order in Nebraska, USA, for 200 V110-2.0 MW turbines, with a total of 400 MW.

      Additional information about the project

      Customer: Berkshire Hathaway Energy Renewables LLC
      Project name: Grande Prairie
      Location/Country: Nebraska, USA
      Number of MW: 400 MW
      Number of turbines/turbine type 200 x V110-2.0 MW turbines
      Contract type: Supply-only
      Contract scope: The contract includes delivery and commissioning of the wind turbines, as well as a five-year Active Output Management (AOM) 5000 service agreement.
      Time of delivery Delivery of the wind turbines is expected to begin in second quarter of 2016, while commissioning is expected to be completed in fourth quarter of 2016.

      Total year-to-date announced order intake in MW: 1,830 MW, (see vestas.com/investor).

      Contact details
      Vestas Wind Systems A/S, Denmark
      Hans Martin Smith, Senior Vice President, Investor Relations
      Tel.: +45 9730 8209

      Vestas-American Wind Technology
      Chris Brown, President 

      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)

      Download news release (pdf)

      Close article
      22:15 - 28 Apr 2015

      Vestas receives 78 MW order in the USA

      Vestas has received a firm and unconditional order in Minnesota, USA, for 39 V110-2.0 MW turbines, totalling 78 MW.

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      Vestas has received a firm and unconditional order in Minnesota, USA, for 39 V110-2.0 MW turbines, totalling 78 MW.

      Additional information about the project

      Customer: Sempra U.S. Gas & Power, LCC
      Project name: Black Oak
      Location/Country: Minnesota, USA
      Number of MW: 78 MW
      Number of turbines/turbine type 39 V110-2.0 MW turbines
      Contract type: Supply-only
      Contract scope: The contract covers supply and commissioning of the wind turbines, as well as a five-year Active Output Management (AOM) 5000 service agreement.
      Time of delivery Delivery of the wind turbines is expected to take place in the second quarter of 2016, with commissioning expected in the fourth quarter of 2016.

      Total year-to-date announced order intake in MW: 1,410 MW (see overview at vestas.com/investor).

      Contact details
      Vestas Wind Systems A/S, Denmark
      Hans Martin Smith, Senior Vice President, Investor Relations
      Tel.: +45 9730 8209

      Vestas-American Wind Technology
      Chris Brown, President 

      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)

      Download news release (pdf)

      Close article
      12:14 - 15 Apr 2015

      Share-based incentive programme 2015 

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      At the annual general meeting held on 30 March 2015, 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 Board of Directors has subsequently set out the terms and conditions governing the restricted performance share programme for the year 2015 for all participants, including the Executive Management. The new share-based incentive programme is an adjustment of the previous programmes and will still be based on restricted performance shares. The programme is adjusted to a performance period of three years replacing the previous one-year performance period and a performance measurement based on financial key performance indicators as well as the Vestas Group’s market share as defined by the Board of Directors. 


      Participants  The Executive Management, Group Senior Vice Presidents, Senior Vice Presidents, Vice Presidents, Chief Specialists and Chief Project Managers in the Vestas Group. The programme for 2015 includes 190 participants.
      Number of shares  The number of shares to be granted is based on a target level for each corporate level. No payments for any grants are made by the participants. If all KPIs are reached on target level, a total of 340,000 shares will be granted from the programme with a total present value calculated based on the current share price amounting to EUR 15m (value at close of Nasdaq Copenhagen on 14 April, 2015). For 2015, the target number of shares for the Executive Management will be 120,000 shares in total. 
      The actual number of restricted performance shares available for distribution may range between 0 and 150 per cent of the target level and is determined by Vestas’ performance in the financial years 2015, 2016, and 2017. The maximum grant of shares under the programme in total is 510,000 shares based on full performance achievement.
      Time of grant  The restricted performance shares are to be granted in two equal portions in 2018 and 2020.
      Key Performance Indicators  The KPIs for all three performance years are based on Vestas’ performance on earnings per share (EPS), return on invested capital (ROIC), as well as the Vestas Group’s market share estimated by a predefined, independent,  well-reputed supplier of such data.
      Conditions  The restricted performance shares are governed by the specific terms and conditions of the programme and subject to mandatory law. If a participant chooses to leave Vestas before the time of grant, the participant’s rights to receive the shares will generally lapse.
      Adjustments to the programme  The number of shares available for grant may be adjusted in the event of changes in Vestas’ capital structure. Further, in the event of a change of control, merger, winding-up or demerger of Vestas, an accelerated grant may extraordinarily take place. In the event of certain transfers of activities or changes in ownership interests within the Vestas Group, adjustment, replacement of the programme and/or settlement in cash of the programme entirely or partly may also take place.

      Contact details
      Vestas Wind Systems A/S, Denmark
      Hans Martin Smith, Senior Vice President, Investor Relations
      Tel.: +45 9730 8209

      Download company announcement (pdf)

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      17:49 - 01 Apr 2015

      Major shareholder announcement – Marathon Asset Management LLP

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      Vestas has received information from Marathon Asset Management LLP, UK, that Marathon Asset Management LLP has reduced its holding of Vestas to 10,968,018 shares, corresponding to 4.89 per cent of Vestas’ share capital.


      Contact details
      Vestas Wind Systems A/S, Denmark
      Hans Martin Smith, Senior Vice President, Investor Relations
      Tel.: +45 9730 8209

      Download Company announcement (pdf)

       

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      14:45 - 30 Mar 2015

      Vestas Wind Systems A/S’ Annual General Meeting on 30 March 2015


      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.

      Agenda and resolutions

      1. The Board of Directors’ report on the company’s activities the past year
      The report is not a subject for voting. The Annual General Meeting took note of the report.   

      2. Presentation and adoption of the annual report
      The annual report 2014 was approved.

      3. Resolution for the allocation of the result of the year according to the adopted annual report
      The Board of Directors’ proposal for allocation of the result of the year, including the proposal for a dividend of DKK 3.90 per share to be paid out for 2014, was approved.

      4. Election to the Board of Directors
      Bert Nordberg, Carsten Bjerg, Eija Pitkänen, Henrik Andersen, Henry Sténson, Lars Josefsson, Lykke Friis and Torben Ballegaard Sørensen 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 2014
      The Board of Directors proposed that the remuneration of the Board of Directors and the members of board committees remain unchanged as approved by the general meeting in 2014. The final remuneration of the Board of Directors and the members of the board committees for 2014 was approved.

      5.2. Approval of the level of remuneration of the Board of Directors for 2015
      The Board of Directors proposed that the level of remuneration for 2015 be based upon a basic remuneration of EUR 52,763 per board member as well as a remuneration of EUR 26,382 per membership of one of the board committees. The proposal implies an increase of 10 per cent. The proposal was approved.

      6. Appointment of auditor
      PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab was re-appointed as auditor of the company.

      7. Proposals from the Board of Directors

      7.1. Amendment of article 4(4) of the articles of association
      The article is amended so that a notice convening a general meeting shall not be announced in a national daily newspaper. The notice will be published on the company’s website. The amendment was approved.

      7.2. Amendment of article 10(1) of the articles of association
      The article is amended so that joint signatures of two members of the Executive Management can bind the company. The amendment was approved.

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

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

      7.5. Renewal of the authorisation to acquire treasury shares
      The Board of Directors’ authorisation to let the company acquire treasury shares corresponding to 10 per cent of the share capital in the period until next annual general meeting was approved.

      8. Authorisation of the chairman of the general meeting
      The chairman (with a right of substitution) was authorised to file and register the adopted resolutions with the Danish Business Authority and make such amendments as requested by the Danish Business Authority.

      - - - - - - -

      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
      Hans Martin Smith, Senior Vice President, Investor Relations
      Tel.: +45 9730 8209

      Download Company announcement (pdf)

      Download Articles of Association 2015 (pdf)

      Close article
      13:39 - 20 Mar 2015

      Vestas receives 122 MW order in Sweden

      Vestas has received a firm and unconditional order in Sweden, comprising 37 V117-3.3 MW turbines, with a total capacity of 122 MW.

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      Vestas has received a firm and unconditional order in Sweden, comprising 37 V117-3.3 MW turbines, with a total capacity of 122 MW.

      Additional information about the project:

      Customer: Allianz Capital Partners Ltd.
      Project name: Sörby
      Location/Country: Ljusdal and Bollnäs, Sweden
      Number of MW: 122 MW
      Number of turbines/turbine type 37 x V117-3.3 MW turbines
      Contract type: Supply-and-installation
      Contract scope: The contract includes supply, installation and commissioning of the wind turbines, as well as a 15-year Active Output Management (AOM) 5000 service agreement, and a VestasOnline® Business SCADA solution.
      Time of delivery Turbine delivery is scheduled to begin in the first quarter of 2016 with commissioning expected to start during the second quarter of 2016.

      Total year-to-date announced order intake in MW: 1,109 MW (see overview at vestas.com/investor).

      Contact details
      Vestas Wind Systems A/S, Denmark
      Hans Martin Smith, Senior Vice President, Investor Relations
      Tel.: +45 9730 8209

      Vestas Northern Europe
      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)

      Download news release (pdf)

      Close article
      22:10 - 10 Mar 2015

      Vestas receives 180 MW order in Brazil

      Vestas has received a firm and unconditional order of 180 MW in Brazil.

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      Vestas has received a firm and unconditional order of 180 MW in Brazil.


      Additional information about the project:

      Customer: Undisclosed at the customer’s request.
      Project name: Undisclosed at the customer’s request.
      Location/Country: Campo Formoso, Brazil
      Number of MW: 180 MW
      Number of turbines/turbine type 90 x V110-2.0 MW turbines
      Contract type: Supply-and-installation
      Contract scope: The contract comprises supply and installation of the wind turbines as well as a two-year full-scope Active Output Management (AOM) 4000 service agreement followed by an eight-year customised service agreement.
      Time of delivery                                  Delivery of the wind turbines is planned for the second quarter of 2016, while commissioning is expected in the periods thereafter.

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

      Contact details
      Vestas Wind Systems A/S, Denmark
      Hans Martin Smith, Senior Vice President, Investor Relations
      Tel.: +45 9730 8209

      Vestas Mediterranean
      Marco Graziano, President 

      For more information, or to arrange an interview with Marco Graziano, please contact:

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

      Download company announcement (pdf)

      Close article
      17:42 - 04 Mar 2015

      Vestas successfully places a EUR 500m Eurobond  

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      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 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 or in any jurisdiction in which such offers or sales are unlawful (the “Excluded Territories”). 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 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 or Japan.

      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 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 or any other jurisdiction 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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      06:05 - 02 Mar 2015

      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, 30 March 2015 at 1:00 p.m. (CET) at the Concert Hall Aarhus (Musikhuset Aarhus), Thomas Jensens Allé, 8000 Aarhus C, Denmark.

      Download full convening (pdf)
      Read more ...

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      09:35 - 20 Feb 2015

       Vestas mandates banks to arrange investor meetings in Europe

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      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 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 or in any jurisdiction in which such offers or sales are unlawful (the “Excluded Territories”). 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 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 or Japan.

      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 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 or any other jurisdiction 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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      10:35 - 18 Feb 2015

      Information in the market regarding offshore project in the UK

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      Today there is information in the market regarding the appointment of MHI Vestas Offshore Wind as preferred supplier by DONG Energy for an offshore project in the UK.

      Vestas can confirm that MHI Vestas Offshore Wind has been appointed preferred supplier for the delivery of the V164-8.0 MW wind turbine for phase 1 of the Walney Extension Offshore Wind Farm, comprising 330 MW.

      As soon as the project translates into a firm and unconditional order, 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
      Hans Martin Smith, Senior Vice President, Investor Relations
      Tel.: +45 9730 8209

      Download Company announcement (pdf)

       

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      10:25 - 18 Feb 2015

      Information in the market regarding project in Canada

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      Today there is information in the market regarding a project in Quebec, Canada, comprising 68 3.3 MW turbines, totalling 224.4 MW.

      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
      Hans Martin Smith, Senior Vice President, Investor Relations
      Tel.: +45 9730 0000

      Download pdf

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      08:35 - 11 Feb 2015

      Annual report 2014

      – Strong performance on all key financial and operational parameters

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      – Strong performance on all key financial and operational parameters

      Summary: 2014 was the first year in the implementation of Vestas’ new strategic plan, Profitable Growth for Vestas, and it proved to be a year of strong performance. Compared to 2013, general performance substantially improved due to a successful execution of the strategic plan combined with a continued focus on the parameters which were at the centre of the previous turnaround plan. Wind turbine order intake increased by 10 per cent in 2014 and the service order backlog increased as well, providing continued evidence of Vestas’ strong position in the market.

      For full year 2014, revenue amounted to EUR 6.9bn, EBIT margin before special items was 8.1 per cent, total investments was EUR 285m, and the free cash flow amounted to EUR 841m. This was all in line with the latest expectations of revenue of EUR 6.4bn-7.0bn, EBIT margin before special items of 7-8 per cent, total investments of approx EUR 250m, and free cash flow around EUR 850m. The activity level and earnings of the period were a result of stable execution throughout the year.

      The wind turbine order intake increased from 5,964 MW in 2013 to 6,544 MW in 2014 and the value of the service order backlog increased by EUR 0.3bn to EUR 7.0bn, despite the carve-out of the offshore service order backlog during the year.

      For 2015, Vestas expects revenue to amount to minimum EUR 6.5bn with an EBIT margin before special items of minimum 7 per cent, total investments of approx EUR 300m, and a free cash flow of minimum EUR 400m.

      As a result of the strong performance during the year, Vestas’ capital structure targets have been met and, as per the dividend policy of the company, the Board of Directors recommends to the Annual General Meeting that a dividend of DKK 3.90 per share, equivalent to 29.5 per cent of the net profit for the year, be distributed to the shareholders.

      “I’m pleased to see that Vestas’ financial performance continues to improve, with solid results on all key financial and operational parameters. One year on, the “Profitable Growth for Vestas” strategy is very much on track.  Vestas’ strong results are creating value for our shareholders, as illustrated by the Board’s recommendation to distribute a dividend for the first time since 2002,” says Anders Runevad, Group President & CEO.  He continues: “I also want to commend the Vestas employees for their tremendous efforts, leading to the strong results we present today”.

      Press and analyst meeting in Copenhagen, Denmark
      In connection with the disclosure of the annual report, an information meeting including the strategic update will be held on Wednesday, 11 February 2015 at 10.00 a.m. CET (9.00 a.m. GMT) for analysts, investors and the media at:

      Radisson Blu Royal Hotel, Copenhagen
      Hammerichsgade 1
      1611 Copenhagen V
      Denmark

      Further details at www.vestas.com/investor

      Contact details
      Vestas Wind Systems A/S, Denmark

      Investors/analysts:
      Hans Martin Smith, Senior Vice President, Investor Relations, Tel.: +45 9730 8209

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

      Download Company announcement (pdf)

      Download Annual report 2014 (pdf)


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      23:59 - 04 Feb 2015

      Vestas receives 106 MW order in Brazil

      Vestas has received a firm and unconditional order in Brazil, comprising of 53 V110-2.0 MW turbines, totalling a capacity of 106 MW.

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      Vestas has received a firm and unconditional order in Brazil, comprising of 53 V110-2.0 MW turbines, totalling a capacity of 106 MW.

      Additional information:

      Customer: Gestamp Eólica S.L.
      Project name: Cabeço Preto III, V and VI, & Macambira I and II
      Location/Country: Rio Grande do Norte, Brazil
      Number of MW: 106 MW
      Number of turbines/turbine type 53 x V110-2.0 MW turbines
      Contract type: Supply-and-installation
      Contract scope: The contracts include supply and installation of the wind turbines, as well as a 10-year full-scope Active Output Management (AOM) 4000 service agreement.
      Time of delivery Turbine delivery is scheduled for the first quarter of 2016, whilst commissioning is expected in the second quarter (Cabeço Preto) and third quarter (Macambira) of 2016.

      Total year-to-date announced order intake in MW: 598 MW, (see vestas.com/investor).

      Contact details

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

      Vestas Mediterranean
      Marco Graziano, President 

      For more information, or to arrange an interview with Marco Graziano, please contact:

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

      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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      12:15 - 30 Jan 2015

      Vestas receives a 10-year service contract extension for 429 MW in the USA

      Vestas has received a 10-year extension to a service agreement for three wind power plants in the state of Washington, USA, with a total capacity of 429 MW.

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      Vestas has received a 10-year extension to a service agreement for three wind power plants in the state of Washington, USA, with a total capacity of 429 MW.

      Additional information:

      Customer: Puget Sound Energy
      Project name: Whiskey Ridge, Wild Horse, and Hopkins Ridge
      Location/Country: Washington, USA
      Number of MW/turbines: 429 MW  /  214 x V80-1.8 MW + 22 x V80-2.0 MW turbines
      Duration of service contracts: 10 years
      Contract scope: The service contract encompasses the Vestas Active Output Management (AOM) 4000.

      Contact details:

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

      Vestas-American Wind Technology
      Chris Brown, President 

      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 “News”.

      Download Company announcement (pdf)

      Download news release (pdf)

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      23:57 - 21 Jan 2015

      Vestas receives 298 MW order in the USA

      Vestas has received a firm and unconditional order in the USA for 149 V100-2.0 MW turbines corresponding to 298 MW.

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      Vestas has received a firm and unconditional order in the USA for 149 V100-2.0 MW turbines corresponding to 298 MW.

      Additional information about the project:

      Customer: First Reserve
      Project name: Kingfisher
      Location/Country: Oklahoma, USA
      Number of MW: 298 MW
      Number of turbines/turbine type 149 x V100-2.0 MW
      Contract type: Supply-only
      Contract scope: The order comprises supply and commissioning of the wind turbines, as well as a 10-year Active Output Management (AOM 5000) service agreement.
      Time of delivery Delivery is expected to take place in late 2015.

      Total year-to-date announced order intake in MW: 334 MW, (see vestas.com/investor).

      Contact details
      Vestas Wind Systems A/S, Denmark
      Hans Martin Smith, Senior Vice President, Investor Relations
      Tel.: +45 9730 8209

      Vestas-American Wind Technology
      Chris Brown, President 

      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)

      Download news release (pdf)

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      15:31 - 19 Jan 2015

      Information in the market regarding projects in Norway

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      Today, there is information in the market regarding Vestas having been appointed preferred supplier for six planned wind power plants in Norway.

      Vestas can confirm that Statkraft and Vestas have signed a Letter of Intent to supply wind turbines for the Fosen and Snillfjord/Hitra projects in Norway. If this results in firm and unconditional orders according to Vestas’ definition, Vestas will disclose company announcements immediately thereafter to this effect.

      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
      Hans Martin Smith, Senior Vice President, Investor Relations
      Tel.: +45 9730 0000

      Download Company announcement (pdf)

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      16:50 - 08 Jan 2015

      Information in the market regarding offshore project in Belgium

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      Today there is information in the market regarding a MHI Vestas Offshore Wind project in Belgium.

      Vestas can confirm that Nobelwind and MHI Vestas Offshore Wind have entered into a conditional agreement regarding the 165 MW Nobelwind project in Belgium, comprising 50 V112-3.3 MW turbines.

      As soon as the project translates into a firm and unconditional order, 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
      Hans Martin Smith, Senior Vice President, Investor Relations
      Tel.: +45 9730 0000

      Download Company announcement (pdf)

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      16:10 - 06 Jan 2015

      Vestas upgrades free cash flow expectations for 2014 to approx EUR 850m

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      Based on preliminary reporting, Vestas upgrades the expectations for the 2014 free cash flow to approx EUR 850m compared to the previous expectation of EUR 400-700m. The improvement is primarily driven by a better-than-expected development of the net working capital.
       
      As earlier announced, the annual report for 2014 will be disclosed on 11 February 2015.

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

      Download company announcement (pdf)

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    • 11:10 - 31 Dec 2014

      Vestas receives 88 MW order in Chile

      Vestas has received a firm and unconditional order in Chile for 44 V110-2.0 MW turbines, with a total capacity of 88 MW.

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      Vestas has received a firm and unconditional order in Chile for 44 V110-2.0 MW turbines, with a total capacity of 88 MW.

      Additional information about the project

      Customer: Undisclosed at the customer’s request.
      Project name: Undisclosed at the customer’s request.
      Location/Country: Chile
      Number of MW: 88 MW
      Number of turbines/turbine type 44 x V110-2.0 MW
      Contract type: Supply-and-installation
      Contract scope: The contract comprises supply, installation and commissioning of the wind turbines, and a VestasOnline® Business SCADA solution.
      Time of delivery The wind power plant is expected completed in the first quarter of 2016.

      Total year-to-date announced order intake in MW: 5,791 MW, (see vestas.com/investor).

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

      Vestas Mediterranean
      Marco Graziano, President 

      For more information, or to arrange an interview with Marco Graziano, please contact:

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

      Download company announcement (pdf)

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      22:10 - 30 Dec 2014

      Vestas receives 150 MW order in the USA as part of turbine supply agreements with an additional potential of up to 1,000 MW

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      Vestas has received a firm and unconditional order in the USA for 150 MW under the EDF Renewable Energy master supply agreement announced in 2013 (ref. Vestas Wind Systems A/S’ company announcement No. 52/2013 of 20 December 2013). Further, EDF Renewable Energy and Vestas have initiated a new master agreement defining terms for up to 1 GW of future capacity which replaces the master supply agreement announced in 2013.

      Additional information about the project

      Customer: EDF Renewable Energy
      Project name: N/A
      Location/Country: USA
      Number of MW: 150 MW
      Number of turbines/turbine type 75 x V100-2.0 MW
      Contract type: Supply-only
      Contract scope: The order comprises supply and commissioning of the wind turbines, as well as a three-year Active Output Management (AOM 5000) service agreement.
      Time of delivery Turbine delivery of the 150 MW is scheduled for third quarter 2016.

      Total year-to-date announced order intake in MW: 5,703 MW, (see vestas.com/investor).

      Contact details
      Vestas Wind Systems A/S, Denmark
      Hans Martin Smith, 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)

      Download news release (pdf)

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      18:35 - 30 Dec 2014

      Vestas receives 60 MW order in the USA as part of a Master Supply Agreement with a potential of up to 600 MW

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      Vestas has received a firm and unconditional order in the USA for wind turbine equipment corresponding to 60 MW to secure access to the Production Tax Credit beyond 2014. This is part of a Master Supply Agreement (MSA) with the potential for up to 600 MW. The order has been received from SunEdison. The turbines in the new MSA will be deployed at various projects that are currently being developed.

      Additional information about the project

      Customer: SunEdison
      Project name: N/A
      Location/Country: USA
      Number of MW: Wind turbine equipment corresponding to 60 MW as part of a Master Supply Agreement with a potential of up to 600 MW.
      Number of turbines/turbine type Wind turbine equipment for both the Vestas 2MW and 3MW platforms.
      Contract type: Supply-only
      Contract scope: The MSA includes delivery of wind turbine equipment together with a 10-year Active Output Management (AOM) 5000 service agreement.
      Time of delivery Various

      Total year-to-date announced order intake in MW: 5,553 MW (see vestas.com/investor).

      Contact details

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

      Vestas-American Wind Technology
      Chris Brown, President 

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

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

      Download company announcement (pdf)

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      20:35 - 19 Dec 2014

      MHI Vestas Offshore Wind has received a 258 MW order in the UK

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      MHI Vestas Offshore Wind has received a firm and unconditional order for 32 V164-8.0 MW turbines for the offshore Burbo Bank Extension project in Liverpool Bay in the UK, ref. company announcements No. 7/2014 of 18 February 2014 and No. 32/2014 of 21 August 2014. The 258 MW order is placed by DONG Energy, and the contract covers supply, installation and commissioning of the wind turbines, as well as a five year full-scope service contract.

      The project will be delivered by MHI Vestas Offshore Wind and will not enter into the order backlog of Vestas Wind Systems A/S.

      As Vestas owns 50 per cent of the joint venture company MHI Vestas Offshore Wind, Vestas will disclose firm and unconditional orders received by MHI Vestas Offshore Wind with a value above DKK 1bn, ref. Vestas’ Communication Strategy.

      A news release from MHI Vestas Offshore Wind regarding the order will also be published on mhivestasoffshore.com under “Media and news”.

      Contact details
      Vestas Wind Systems A/S, Denmark
      Hans Martin Smith, Senior Vice President, Investor Relations
      Tel: +45 9730 8209

      MHI Vestas Offshore Wind
      Matt Whitby, Press Officer
      Tel: +45 2250 7131
      Email: matke@mhivestasoffshore.com

      Download company announcement (pdf)

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      06:05 - 15 Dec 2014

      Vestas’ financial calendar 2015

      The Vestas Group’s financial calendar for 2015.

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      The Vestas Group’s financial calendar for 2015 is as follows:

      11 February 2015
      Disclosure of annual report 2014 and outlook for 2015

      13 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

      2 March 2015
      Convening for the Annual General Meeting

      30 March 2015
      Annual General Meeting in Aarhus, Denmark

      6 May 2015
      Disclosure of interim financial report for Q1 2015

      19 August 2015
      Disclosure of interim financial report for Q2 2015

      5 November 2015
      Disclosure of interim financial report for Q3 2015


      Contact details:
      Vestas Wind Systems A/S, Denmark
      Hans Martin Smith, Senior Vice President, Investor Relations
      Tel.: +45 9730 8209

      Download company announcement (pdf)

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      23:00 - 11 Dec 2014

      Vestas receives 310 MW order in Kenya

      Vestas has received a firm and unconditional order for 365 V52-850 kW turbines for Kenya.

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      Additional information about the project

      Customer: Lake Turkana Wind Power Ltd.
      Project name: Lake Turkana
      Location/Country: Kenya
      Number of MW: 310 MW
      Number of turbines/turbine type 365 V52-850 kW turbines
      Contract type: Supply-and-installation
      Contract scope: Supply, installation, and commissioning of the wind turbines as well as a 15-year service agreement (AOM 4000).
      Time of delivery Installation of the wind turbines is expected to begin in the first half of 2016 and the wind power plant is expected to be commissioned in the second half of 2017.

      Total year-to-date announced order intake in MW: 5,381 MW, (see vestas.com/investor).

      Contact details

      Vestas Wind Systems A/S, Denmark
      Hans Martin Smith, Senior Vice President, Investor Relations
      Tel.: +45 9730 8209

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

      Download company announcement (pdf)

       

      Close article
      20:35 - 09 Dec 2014

      Court approval of proposed settlement of US class action

       The United States District Court, Portland Division, has now approved the proposed settlement. This settlement will become final 30 days after the court approval unless the approval is appealed.

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      Court approval of proposed settlement of US class action

      On 21 March 2011, Vestas disclosed that a lawsuit had been filed as a class action in a US court against Vestas Wind Systems A/S, its US subsidiary and certain officers and directors, ref. company announcement No. 8/2011 of 21 March 2011. In company announcement No. 25/2014 of 26 June 2014, Vestas announced that a conditional settlement of this dispute had been reached. As part of this settlement, the claims against the individual officers and directors were also dropped.

      The settlement consists of a cash payment of USD 5m to the plaintiffs, and this amount will be paid in its entirety by Vestas’ insurer.

      The United States District Court, Portland Division, has now approved the proposed settlement. This settlement will become final 30 days after the court approval unless the approval is appealed.

      One of the allegations raised by the plaintiffs was that Vestas’ share price had been inflated during the class period due to misstatements and omissions in relation to the company’s accounting for supply-and-installation contracts under IFRIC 15. Vestas expressly denies all allegations in the lawsuit and maintains that its disclosures to the public were appropriate at all times. Vestas therefore does not concede any wrongdoing or liability in relation to the claims raised against it. Nevertheless, it has been deemed desirable for Vestas to resolve the claims in order to end the substantial expenses, burdens and uncertainties associated with continued litigation in the USA.

      The settlement relates only to purchases of American Depositary Receipts and ordinary shares bought in US domestic transactions during the US class period commencing 11 February 2009 and ending 9 February 2012. The settlement does not affect other transactions or the lawsuit that was filed in the City Court of Aarhus by 87 shareholders in August 2013, ref. company announcement No. 35/2013 of 16 August 2013.

       

      Contact details
      Vestas Wind Systems A/S, Denmark
      Hans Martin Smith, Senior Vice President, Investor Relations
      Tel.: +45 9730 8209

      Download company announcement

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      22:40 - 14 Nov 2014

      Vestas receives 200 MW order in Minnesota

      Vestas has received a firm and unconditional order in the United States for 100 V110-2.0 MW turbines, corresponding to 200 MW.

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      Vestas has received a firm and unconditional order in the United States for 100 V110-2.0 MW turbines, corresponding to 200 MW.


      Additional information about the project

      Customer: Odell Wind Farm LLC
      Project name: Odell
      Location/Country: Minnesota, USA
      Number of MW: 200 MW
      Number of turbines/turbine type 100 x V110-2.0 MW
      Contract type: Supply-only
      Contract scope: The order comprises supply and commissioning of the wind turbines, as well as a 10-year Active Output Management (AOM 5000) service agreement.
      Time of delivery Delivery expected to begin in the third quarter of 2015, and commissioning expected to be completed before end 2015.

      Total year-to-date announced order intake in MW: 4,934 MW, (see vestas.com/investor).

      Contact details
      Vestas Wind Systems A/S, Denmark
      Hans Martin Smith, Senior Vice President, Investor Relations
      Tel: +45 9730 8209

      Vestas-American Wind Technology
      Chris Brown, President 

      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)

      Download news release (pdf)

      Close article
      08:35 - 07 Nov 2014

      Interim financial report, third quarter 2014

      Outlook for 2014: Expectations to revenue, EBIT margin before special items and cash flow all upgraded. Third quarter 2014 was characterised by strong operational performance and high activity levels, leading to increases in both EBIT level and cash flow compared to the third quarter of 2013.

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      Outlook for 2014: Expectations to revenue, EBIT margin before special items and cash flow all upgraded. Third quarter 2014 was characterised by strong operational performance and high activity levels, leading to increases in both EBIT level and cash flow compared to the third quarter of 2014.


      In the third quarter of 2014, Vestas generated revenue of EUR 1,813m – an increase of 26 per cent compared to the third quarter of 2013. EBIT before special items increased by EUR 96m to EUR 163m primarily due to higher volume and to a lesser extent also caused by improved average margins. The EBIT margin before special items was 9.0 per cent. The net result increased by EUR 189m to EUR 102m and the free cash flow increased by EUR 49m to EUR 105m compared to the third quarter of 2013.

      The intake of firm and unconditional wind turbine orders amounted to 1,170 MW in the third quarter of 2014 – a decrease of 24 per cent compared to the third quarter of 2013. However, year-to-date, order intake is up by 458 MW, or an increase of 12 per cent compared to last year. The value of the wind turbine backlog amounted to EUR 6.7bn at 30 September 2014, which is a decrease of 9 per cent compared to same time last year. In addition to the wind turbine order backlog, Vestas had service agreements with contractual future revenue of EUR 6.7bn at the end of September 2014, compared to 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 at 30 September 2014.

      Vestas upgrades the 2014 guidance on revenue from minimum EUR 6bn to EUR 6.4bn-7.0bn. EBIT margin guidance before special items is upgraded from minimum 6 per cent to 7-8 per cent and guidance on free cash flow is upgraded from minimum EUR 300m to EUR 400m-700m. The upgrades are based on the expected delivery plan for the remainder of the year and an improved cost base.

      Group President & CEO Anders Runevad said: ”The third quarter of 2014 continued the trend with improvements in several operational areas and thus highlights that execution remains on track for our strategy, Profitable Growth for Vestas. Based on the expected delivery plan for the remainder of the year and the improved cost base, we raise our guidance on revenue, EBIT and cash flow.”

      Q3 at a glance (compared to Q3 2013)

      - 24%  Vestas had an order intake of 1,170 MW 
      ‒ a decrease of 24 per cent
      + 36%

      Vestas produced and shipped 2,183 MW
      ‒ an increase of 36 per cent

      + 43%

       Vestas delivered wind power systems with an aggregate capacity of 1,682 MW
      ‒ an increase of 43 per cent

      + 26% Vestas generated revenue of EUR 1,813m
      ‒ an increase of 26 per cent
      + 11 % Onshore service revenue amounted to EUR 235m
      ‒ an increase of 11 per cent
      + EUR 96m

      EBIT before special items amounted to EUR 163m
      ‒ an increase of EUR 96m

      + EUR 189m

      Net profit amounted to EUR 102m
      ‒ an increase of EUR 189m

      + EUR 49m

      Vestas realised a free cash flow of EUR 105m
      ‒ an increase of EUR 49m

      + 12% The number of employees at the end of the quarter was 19,324
      ‒ an increase of 12 per cent
      - 1% points Renewable energy amounted to 66 per cent of the total energy consumption
      ‒ a decrease of 1 percentage points
      - 22% Incidence of lost time injuries per one million working hours was 1.4
      ‒ a decrease of 22 per cent

      Press and analyst information meeting
      For analysts, investors and the media, an information meeting will be held today, Friday 7 November 2014 at 10 a.m. CET (9 a.m. BST) at

      Radisson Blu Royal Hotel, Copenhagen
      Hammerichsgade 1
      1611 Copenhagen V
      Denmark

      The information meeting will be held in English 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 from vestas.com/investor.

      Contact details
      Vestas Wind Systems A/S, Denmark
      Hans Martin Smith, Senior Vice President, Investor Relations
      Tel: +45 9730 8209

      Download the interim financial report for Q3 2014 (pdf)

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      21:07 - 06 Nov 2014

      Vestas receives 200 MW order in Texas

      Vestas has received a firm and unconditional order in the United States for 100 V100-2.0 MW turbines corresponding to 200 MW.

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      Vestas has received a firm and unconditional order in the United States for 100 V100-2.0 MW turbines corresponding to 200 MW.

      Additional information about the project

      Customer: First Wind
      Project name: South Plains
      Location/Country: Texas, USA
      Number of MW: 200 MW
      Number of turbines/turbine type 100 x V100-2.0 MW
      Contract type: Supply-only
      Contract scope: The order comprises supply and commissioning of the wind turbines as well as a 10-year Active Output Management (AOM 5000) service agreement.
      Time of delivery Delivery expected to take place in late 2015.

      Total year-to-date announced order intake in MW: 4,116 MW, (see vestas.com/investor).

      Contact details
      Vestas Wind Systems A/S, Denmark
      Hans Martin Smith, Senior Vice President, Investor Relations
      Tel.: +45 9730 8209

      Vestas–American Wind Technology
      Chris Brown, President 

      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 xx regarding the above-mentioned order will also be published on vestas.com under “Company News”.

      Download company announcement (pdf)

      Download news release (pdf)

      Close article
      16:14 - 06 Nov 2014

      Vestas receives 76 MW order in Poland

      Vestas has received a firm and unconditional order for 38 V100-2.0 MW turbines for a project in Poland for a total capacity of 76 MW.

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      Vestas has received a firm and unconditional order for 38 V100-2.0 MW turbines for a project in Poland for a total capacity of 76 MW.

      Additional information about the project

      Customer: PGE Energia Odnawialna S.A.
      Project name: Resko II
      Location/Country: zachodniopomorskie, Poland
      Number of MW: 76 MW
      Number of turbines/turbine type 38 x V100-2.0 MW
      Contract type: Supply-and-installation
      Contract scope: The contract includes supply, installation and commissioning of the turbines. In addition, a VestasOnline® Business SCADA solution and a two-year full-scope service agreement (AOM 4000).
      Time of delivery Delivery is expected to take place in third quarter 2015 and commissioning in fourth quarter 2015

      Total year-to-date announced order intake in MW: 3,916 MW, (see vestas.com/investor).

      Contact details
      Vestas Wind Systems A/S, Denmark
      Hans Martin Smith, Senior Vice President, Investor Relations
      Tel.: +45 9730 8209

      Vestas Northern Europe
      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)

      Download news release (pdf)

      Close article
      17:14 - 31 Oct 2014

      Vestas secures 66 MW order in Turkey

      Vestas has received a firm and unconditional order for 20 V126-3.3 MW turbines in Edirne, Turkey, for a total capacity of 66 MW.

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      Vestas has received a firm and unconditional order for 20 V126-3.3 MW turbines in Edirne, Turkey, for a total capacity of 66 MW.

      Additional information about the project

      Customer: Steag GmbH (Germany)
      Project name: Suloglu Wind Farm
      Location/Country: Edirne, Turkey
      Number of MW: 66 MW
      Number of turbines/turbine type 20 x V126-3.3MW
      Contract type: Supply-and-installation
      Contract scope: The contract includes supply, installation and commissioning of the turbines. In addition, a 10-year Active Output Management (AOM 4000) service & availability agreement is included.
      Time of delivery Deliveries to the project site will start in the second quarter of 2015 and the power plant is expected to be in commercial operation in the fourth quarter of 2015.

      Total year-to-date announced order intake in MW: 3,840 MW, (see vestas.com/investor).

      Contact details
      Vestas Wind Systems A/S, Denmark
      Hans Martin Smith, Senior Vice President, Investor Relations
      Tel.: +45 9730 8209

      Vestas Mediterranean
      Marco Graziano, President

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

      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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      18:15 - 16 Oct 2014

      Major shareholder announcement – BlackRock, Inc.

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      Vestas has received information from BlackRock Investment Management (UK) Limited, 12 Throgmorton Avenue, London EC2N 2DL, UK, that BlackRock, Inc. has reduced its holding of Vestas shares (ref. company announcement No. 24/2014 of 19 June 2014) to 11,071,328 shares (4.94 per cent).


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

      Download Company announcement (pdf)

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      08:49 - 03 Oct 2014

      Cancellation of order in Brazil

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      With reference to Vestas Wind Systems A/S’ company announcement No. 51/2011 of 29 December 2011, Vestas can hereby inform that delivery of a 254 MW project to the customer CPFL Renováveis in Brazil has been cancelled. CPFL Renováveis and Vestas are currently in the process of discussing the details of the cancellation and its related consequences.

      The cancellation relates to changes to local Brazilian legislation which occurred after the contract was agreed.  As CPFL and Vestas have been unable to agree on the consequences of those specific legislative changes, CPFL and Vestas have amicably agreed to the cancellation of the project.

      Vestas does not expect the cancellation to impact the company’s outlook for 2014.

      Contact details

      Vestas Wind Systems A/S, Denmark

      Hans Martin Smith, Senior Vice President, Investor Relations
      Tel.: +45 9730 0000

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

      Download company announcement (pdf)

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      12:45 - 30 Sep 2014

      Vestas receives 79 MW order in Sweden

      Vestas has received a firm and unconditional order for 24 V112-3.3 MW turbines including Vestas De-icing System (VDS) for a project in Sweden.

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      Vestas has received a firm and unconditional order for 24 V112-3.3 MW turbines including Vestas De-icing System (VDS) for a project in Sweden.

      Additional information about the project

      Customer: Fred. Olsen Renewables
      Project name: Fäbodliden
      Location/Country: Västerbotten, Sweden
      Number of MW: 79.2 MW
      Number of turbines/turbine                24 x V112-3.3 MW turbines
      Contract type: Supply-and-installation
      Contract scope: The order comprises supply, installation and commissioning of the wind turbines and includes the Vestas De-icing System. In addition, the order includes a VestasOnline® Business SCADA solution as well as a 3-year Active
      Output Management (AOM 4000) service agreement.
      Time of delivery Turbine delivery is planned to begin in Q3 2015 with commissioning expected in Q4 2015.

      Total year-to-date announced order intake in MW: 3,675 MW (see vestas.com/investor).

      Contact details
      Vestas Wind Systems A/S, Denmark
      Hans Martin Smith, 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)

      Download news release (pdf)

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      19:10 - 23 Sep 2014

      Vestas receives 110 MW order in Texas

      Vestas has received a firm and unconditional order in the United States for 55 V110-2.0 MW turbines corresponding to 110 MW.

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      Vestas has received a firm and unconditional order in the United States for 55 V110-2.0 MW turbines corresponding to 110 MW.

      Additional information about the project:

      Customer: Duke Energy Renewables
      Project name: Duke Los Vientos V
      Location/Country: Texas, USA
      Number of MW: 110
      Number of turbines/turbine type 55 x V110-2.0 MW
      Contract type: Supply only
      Contract scope: The order comprises supply and commissioning of the wind turbines as well as a three-year Active Output Management (AOM 5000) service agreement
      Time of delivery Expected completion date in late 2015

      Total year-to-date announced order intake in MW: 3,579 MW, (see vestas.com/investor).

      Contact details
      Vestas Wind Systems A/S, Denmark
      Hans Martin Smith, 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)

      Download news release (pdf) 

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      18:30 - 05 Sep 2014

      Information in the market regarding project in the USA

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      Today, there is information in the market regarding a 200 MW 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
      Hans M. Smith, Senior Vice President, Investor Relations
      Tel.: +45 9730 0000

      Download Company Announcement (pdf)

       

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      23:55 - 03 Sep 2014

      Information in the market regarding project in the USA

      Today, there is information in the market regarding a 110 MW project in the USA.

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      Today, there is information in the market regarding a 110 MW 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
      Hans M. Smith, Senior Vice President, Investor Relations
      Tel.: +45 9730 0000

      Download Company Announcement (pdf)

       

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      09:50 - 21 Aug 2014

      Information in the market regarding offshore project in the UK

      Vestas can confirm that DONG Energy and MHI Vestas Offshore Wind have entered into a conditional agreement regarding the Burbo Bank Extension project in the UK comprising V164-8.0 MW turbines.

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      Vestas can confirm that DONG Energy and MHI Vestas Offshore Wind have entered into a conditional agreement regarding the Burbo Bank Extension project in the UK comprising V164-8.0 MW turbines.

      Today there is additional information in the market regarding an offshore project in the UK (ref. company announcement No. 7/2014 of 18 February 2014). 

      Vestas can confirm that DONG Energy and MHI Vestas Offshore Wind have entered into a conditional agreement regarding the Burbo Bank Extension project in the UK comprising V164-8.0 MW turbines. 

       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
      Hans Martin Smith, Senior Vice President,
      Investor Relations
      Tel.: +45 9730 0000

      Download company announcement (pdf)

      Close article
      08:34 - 20 Aug 2014

      Interim financial report, second quarter 2014

      Outlook for 2014: EBIT margin before special items increased to minimum 6 per cent. Second quarter 2014 order intake, revenue and earnings increased compared to the second quarter of 2013.

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      Outlook for 2014: EBIT margin before special items increased to minimum 6 per cent. Second quarter 2014 order intake, revenue and earnings increased compared to the second quarter of 2013.

      In the second quarter of 2014, Vestas generated revenue of EUR 1,341m – an increase of 13 per cent compared to the second quarter of 2013. EBIT before special items increased by EUR 92m to EUR 104m primarily due to improved average project margins and higher volume. The EBIT margin before special items was 7.8 per cent. Net result increased by EUR 156m to EUR 94m and the free cash flow decreased by EUR 218m to EUR (21)m compared to the second quarter of 2013.

      The intake of firm and unconditional wind turbine orders amounted to 1,932 MW in the second quarter of 2014 – an increase of 18 per cent compared to the second quarter of 2013. The value of the wind turbine backlog amounted to EUR 7.4bn at 30 June 2014. In addition to the wind turbine order backlog, Vestas had service agreements with contractual future revenue of EUR 6.5bn at the end of June 2014. Thus, the value of the combined backlog of wind turbine orders and service agreements stood at EUR 13.9bn.

      Vestas upgrades the 2014 guidance on EBIT margin before special items from minimum 5 per cent to minimum 6 per cent based on the improving cost base and the expected delivery plan for the second half of 2014.

      Group President & CEO Anders Runevad said: ”With another solid quarter showing improvements in most areas, we remain focused on executing on our strategy, Profitable Growth for Vestas. Based on the improved cost base and the expected delivery plan for the second half of the year, we raise our 2014 EBIT margin target to minimum 6 per cent.”

      Press and analyst information meeting
      For analysts, investors and the media, an information meeting will be held today, Wednesday, 20 August 2014 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 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 from vestas.com/investor.

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

      Download the interim financial report for Q2 2014

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      23:30 - 01 Jul 2014

      Vestas receives 166 MW order in the USA

      Vestas has received a firm and unconditional order for 83 V100-2.0 MW turbines under the RES master supply agreement.

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      Vestas has received a firm and unconditional order for 83 V100-2.0 MW turbines under the RES master supply agreement.

      Additional information about the project

      Customer: RES Americas
      Project name: Pleasant Valley
      Location/Country: Minnesota, USA
      Number of MW: 166 MW
      Number of turbines/turbine type 83 x V100-2.0 MW
      Contract type: Supply-only
      Contract scope: The order comprises supply and commissioning of the wind turbines as well as a three-year Active Output Management (AOM 5000) service agreement.
      Time of delivery Delivery and commissioning of the project is expected to take place in the fourth quarter of 2015.

      Total year-to-date announced order intake in MW: 2,704 MW, (see vestas.com/investor).

      Contact details

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

      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)

      Download news release (pdf)

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      09:35 - 01 Jul 2014

      New board member elected by the employees to join Vestas’ Board of Directors

      New board member elected by the employees to join Vestas’ Board of Directors

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      New board member elected by the employees to join Vestas’ Board of Directors

      Knud Bjarne Hansen, board member elected by the employees, has announced that he will retire from the Board of Directors of Vestas Wind Systems A/S as per 1 July 2014, as Knud Bjarne wants to dedicate all his efforts to supporting Vestas’ joint venture, MHI Vestas Offshore Wind A/S.

      Chief Specialist Kim Bredo Rahbek, employed at Technology and Service Solutions in Aarhus, Denmark, will, consequently, join as new member of Vestas’ Board of Directors.

      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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      18:15 - 28 Jun 2014

      Vestas receives orders for a total of 450 MW in the USA

      Vestas has received two firm and unconditional orders comprising a total of 225 wind turbines under the EDF master supply agreement.

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      Vestas has received two firm and unconditional orders comprising a total of 225 wind turbines under the EDF master supply agreement.

      Additional information about the project

      Customer: EDF Renewable Energy
      Project name: Roosevelt and Slate Creek
      Location/Country: New Mexico and Kansas, USA
      Number of MW: 450 MW
      Number of turbines/turbine types: 150 x V100-2.0 MW + 75 x V110-2.0 MW
      Contract type: Supply-only
      Contract scope: Both orders comprise supply and commissioning of the wind turbines as well as a three-year Active Output Management (AOM 5000) service agreement.
      Time of delivery Delivery of the Roosevelt project is expected to take place in the second quarter of 2015 and the Slate Creek project is expected delivered in the third quarter of 2015. Both projects are expected commissioned in the fourth quarter of 2015.

      Total year-to-date announced order intake in MW: 2,538 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:

      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)

      Download news release (pdf)

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      22:10 - 27 Jun 2014

      Vestas receives 124 MW order in the USA

      Vestas has received a firm and unconditional order for 62 V100-2.0 MW turbines under the RES Americas master supply agreement.

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      Vestas has received a firm and unconditional order for 62 V100-2.0 MW turbines under the RES Americas master supply agreement.

      Additional information about the project

      Customer: RES Americas
      Project name: Border Winds Project
      Location/Country: North Dakota, USA
      Number of MW: 124 MW
      Number of turbines/turbine type 62 x V100-2.0 MW
      Contract type: Supply-only
      Contract scope: The order comprises supply and commissioning of the wind turbines as well as a three-year Active Output Management (AOM 5000) service agreement.
      Time of delivery Delivery of the project is expected to take place in the third quarter of 2015 with commissioning expected in the fourth quarter of the same year.

      Total year-to-date announced order intake in MW: 2,088 MW, (see vestas.com/investor).

      Contact details

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

      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)

      Download news release (pdf)

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      14:15 - 27 Jun 2014

      Vestas receives 88 MW order in France

      Vestas has received a firm and unconditional order for an 88 MW project in France.

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      Vestas has received a firm and unconditional order for an 88 MW project in France.

      Additional information about the project

      Customer: EDF EN
      Project name: Not disclosed at the customer’s request
      Location/Country: France
      Number of MW: 88 MW
      Number of turbines/turbine types 24 x V90-3.0 MW and 8 x V80-2.0 MW
      Contract type: Supply-and-installation
      Contract scope: The order comprises supply, installation and commissioning of the wind turbines.  A service contract will be determined at a later date.
      Time of delivery Not disclosed at the customer’s request.

      Total year-to-date announced order intake in MW: 1,964 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 Mediterranean, Spain
      Marco Graziano, President 

      For more information, or to arrange an interview with Marco Graziano, please contact:

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

      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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      23:20 - 26 Jun 2014

      Conditional settlement of US class action

      Conditional settlement of US class action

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      Conditional settlement of US class action

      On 21 March 2011, Vestas disclosed that a lawsuit had been filed in a US court against Vestas Wind Systems A/S, its US subsidiary and certain of its officers and directors (ref. company announcement No. 8/2011 of 21 March 2011). A conditional settlement of this dispute has now been reached with the lawyers representing the purchasers of American Depositary Receipts and ordinary shares in US domestic transactions during the period from 11 February 2009 to 9 February 2012. The claims against the individual officer and director defendants have been dropped.

      The settlement consists of a cash payment of USD 5m to the plaintiffs and will resolve the US class action lawsuit. The settlement will be paid entirely by Vestas’ insurer.

      The settlement is subject to approval by a court in the USA and to other conditions specified in the settlement documents. A preliminary decision is expected later this year, with a hearing on final approval likely to be held by the end of 2014 or at the beginning of 2015.

      Among the allegations raised by the plaintiffs were that Vestas’ share price had been inflated during the class period due to purported misstatements and omissions in relation to the company’s accounting for supply-and-installation contracts under IFRIC 15.

      Vestas expressly denies all allegations in the claims and is convinced that its disclosures to the public were appropriate at all times. Vestas therefore does not concede any wrongdoing or liability in relation to the claims raised against it. Nevertheless, Vestas believes that resolving the claims would be desirable in order to end the substantial expenses, burdens and uncertainties associated with a continued litigation in the USA.

      Bert Nordberg, Chairman of the Board said: “We look forward to putting this case behind us, which will allow us to continue our focus on the operation of the business to the benefit of our customers and our owners.”

      The settlement relates only to the above purchases of American Depositary Receipts and ordinary shares bought in US domestic transactions during the US class period. The settlement has no influence on other transactions or on the lawsuit that was filed in the City Court of Aarhus by 87 shareholders in August 2013 (ref. company announcement No. 35/2013 of 16 August 2013).    
       
      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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      08:50 - 19 Jun 2014

      Major shareholder announcement – BlackRock, Inc.

      Major shareholder announcement – BlackRock, Inc.

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      Major shareholder announcement – BlackRock, Inc.

      Vestas has received information from BlackRock Investment Management (UK) Limited, 12 Throgmorton Avenue, London EC2N 2DL, UK, that BlackRock, Inc. has increased their holding of Vestas shares to 11,276,405 shares (5.03 per cent).

      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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      15:10 - 06 Jun 2014

      Vestas receives orders for a total of 158 MW in Turkey

      Vestas has received three firm and unconditional orders for a total of 158 MW under the EnBW/Borusan framework agreement.

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      Vestas has received three firm and unconditional orders for a total of 158 MW under the EnBW/Borusan framework agreement.

      Additional information about the project

      Customer: Joint venture between German EnBW and Turkish Borusan
      Project name: Mut, Harmanlık and Koru RES wind power plants
      Location/Country: Near the cities of Mersin, Bursa and Çanakkale, Turkey
      Number of MW: 158.4 MW
      Number of turbines/turbine type 48 V112-3.3 MW turbines
      Contract type: Supply-and-installation
      Contract scope: The orders include supply, installation and commissioning of the wind turbines, a VestasOnline® Business SCADA system, as well as a five-year full-scope service agreement (AOM 4000) for all three projects.
      Time of delivery Delivery of all three projects is expected to occur in the fourth quarter of 2014 with expected commissioning in the second quarter of 2015.

      Total year-to-date announced order intake in MW: 1,790 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 Mediterranean, Spain
      Marco Graziano, President 

      For more information, or to arrange an interview with Marco Graziano, please contact:

      Alessandro Bracco, Director, Marketing Execution
      Tel.: +34 91 362 8371

      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 - 19 May 2014

      Vestas receives 148 MW order in the USA

      Vestas has received a firm and unconditional order for 48 V112-3.0 MW turbines under the First Wind master supply agreement.

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      Vestas has received a firm and unconditional order for 48 V112-3.0 MW turbines under the First Wind master supply agreement.

      Additional information about the project

      Customer: First Wind, USA
      Project name: Oakfield
      Location/Country: Maine, USA
      Number of MW: 148 MW
      Number of turbines/turbine type 48 V112-3.0 MW turbines
      Contract type: Supply-only
      Contract scope: The order comprises delivery 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 Oakfield project will take place in the second quarter of 2015, with commissioning expected by the fourth quarter of 2015.

      Total year-to-date announced order intake in MW: 1,554 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-American Wind Technology, USA
      Chris Brown, President

      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)

      Download news release (pdf)

      Close article
      15:15 - 14 May 2014

      Vestas receives 63 MW order in Germany

      Vestas has received a firm and unconditional order for 19 V112-3.3 MW turbines, with an option for another eight wind turbines, in Germany.

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      Vestas has received a firm and unconditional order for 19 V112-3.3 MW turbines, with an option for another eight wind turbines, in Germany.

      Additional information about the project

      Customer: KGE Windpark Schipkau Nord GmbH & Co. KG
      Project name: Klettwitz II
      Location/Country: Brandenburg, Germany
      Number of MW: 62.7 MW
      Number of turbines/turbine type 19 V112-3.3 MW turbines
      Contract type: Supply-and-installation
      Contract scope: The contract includes supply, installation and commissioning of the wind turbines, along with a VestasOnline® Business SCADA solution and a 15-year full-scope service agreement (AOM 4000).
      Time of delivery Delivery of the wind turbines is planned to begin in the second half of 2014 with commissioning expected completed in the first quarter of 2015.

      Total year-to-date announced order intake in MW: 1,406 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
      Klaus Steen Mortensen, President

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

      Michael Zarin, Head of External Communications
      Vestas Wind Systems A/S
      Tel: +45 4084 1526

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

      Download company announcement (pdf)

      Download news release (pdf)

      Close article
      08:35 - 09 May 2014

      Interim financial report, first quarter 2014

      Outlook for 2014 maintained. Revenue, earnings and free cash flow increased compared to the first quarter of 2013. Focus on Profitable Growth for Vestas remains.

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      Outlook for 2014 maintained. Revenue, earnings and free cash flow increased compared to the first quarter of 2013. Focus on Profitable Growth for Vestas remains.

      In the first quarter of 2014, Vestas generated revenue of EUR 1,283m – an increase of 17 per cent to the year-earlier period. EBIT before special items increased by EUR 148m to EUR 40m due to improved project margins, higher revenue, lower fixed capacity costs and lower depreciation. The EBIT margin before special items was 3.1 per cent and the free cash flow increased by EUR 36m to EUR (24)m compared to the first quarter of 2013. During the last 12 months, Vestas has generated a free cash flow of EUR 1,045m.

      The intake of firm and unconditional wind turbine orders was 1,188 MW in the first quarter of 2014. The value of the wind turbine backlog amounted to EUR 6.9bn at 31 March 2014. In addition to the wind turbine order backlog, Vestas had service agreements with contractual future revenue of EUR 6.9bn at the end of March 2014. Thus, the value of the combined backlog of wind turbine orders and service agreements stood at EUR 13.8bn – an improvement of EUR 1.4bn compared to the year-earlier period.

      On 1 April 2014, MHI Vestas Offshore Wind, the joint venture between Vestas and Mitsubishi Heavy Industries Ltd., became operational. 

      Group President & CEO Anders Runevad said: ”As we expected, first quarter showed improvements in all major areas. This is a result of a lot of hard work from my colleagues and we remain focused on executing on our strategy, Profitable Growth for Vestas.”

      Q1 at a glance (against Q1 2013)

      + 84% Vestas had an order intake of 1,188 MW
      - an increase of 84 per cent

      + 83% Vestas produced and shipped 1,124 MW
      - an increase of 83 per cent

      + 21% Vestas delivered wind power systems with an aggregate capacity of 988 MW
      - an increase of 21 per cent

      + 17% Vestas generated revenue of EUR 1,283m
      - an increase of 17 per cent

      + 4% Service revenue amounted to EUR 225m
      - an increase of 4 per cent

      + EUR 148m EBIT before special items amounted to EUR 40m
      - an increase of EUR 148m

      + EUR 153m Net profit amounted to EUR 2m
      - an increase of EUR 153m

      + EUR 36m Vestas realised a free cash flow of EUR (24)m
      - an increase of EUR 36m

      - 3% The number of employees at the end of the quarter was 16,610
      - a decrease of 3 per cent

      - 12% points Renewable energy amounted to 46 per cent of total energy consumption
      - a decrease of 12 percentage points

      + 11% Incidence of lost time injuries per one million working hours was 2.0
      - an increase of 11 per cent

      Press and analyst information meeting

      For analysts, investors and the media, an information meeting will be held today, Friday, 9 May 2014 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 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 from vestas.com/investor.

      Contact details

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

      Download full report



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      07:50 - 02 May 2014

      Vestas receives 63 MW order in the Philippines

      Vestas has received a firm and unconditional order for 63 MW in Philippines.

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      Vestas has received a firm and unconditional order for 63 MW in Philippines.

      Additional information about the project

      Customer: EDC Burgos Wind Power Corporation
      Project name: Burgos Wind Project Stage 2
      Location/Country: Burgos, Ilocos Norte province, Philippines
      Number of MW: 63 MW
      Number of turbines/turbine type 21 x V90-3.0 MW
      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 second quarter of 2014.

      Total year-to-date announced order intake in MW: 680 MW, (see vestas.com/investor).

      Contact details

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

      Chris Beaufait, President of Vestas Asia Pacific & China

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

      Vestas Wind Systems A/S, Denmark
      Michael Zarin, Head of External Communications
      Tel. +45 4084 1526

      Download company announcement (pdf)

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      21:10 - 01 May 2014

      Information in the market regarding 148 MW project in the USA

      Information in the market regarding 148 MW project in the USA

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      Information in the market regarding 148 MW project in the USA

      Today, there is information in the market regarding a 148 MW 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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      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

      Download pdf

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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

      Download pdf

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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

      Download pdf

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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

       

      Download pdf 

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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

      Download pdf

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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)

       

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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

      Download pdf

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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

      Close article
      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) 

      Close article
      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

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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

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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.

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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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