If you have any questions before the Annual General Meeting, please send it to email@example.com.
When and where will Vestas' Annual General Meeting take place?
Vestas' Annual General Meeting will be held on Wednesday, 3 April 2019 at 2:00 p.m. (CEST) at the Concert Hall (Musikhuset) Aarhus, Thomas Jensens Allé, 8000 Aarhus C, Denmark.
How does Vestas calculate the “Return on Invested Capital” (ROIC)? And why have you chosen this definition?
Vestas defines the ROIC as EBIT before special items (operating profit) adjusted for tax as a percentage of average invested capital. This definition is in accordance with the guidelines from The Danish Finance Society in “Recommendations and Financial ratios 2018”. Invested capital comprise all operating assets and liabilities. For Vestas, operating assets comprise total assets excluding non-operating assets such as investments in joint ventures and associates, other investments, financial investments, and cash and cash equivalents. Operating liabilities comprise total liabilities excluding non-operating liabilities such as financial debt.
Historically, Vestas has been using ROIC as the primary indicator for the return of operating capital that is actively utilised. Since 2018 however, Vestas has chosen to use Return on Capital Employed (ROCE) as the primary return metric, as ROCE is focused on all capital employed and not only the operating capital.