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Vestas’ net loss doubles in Q1 2011

Vestas has seen its net loss more than double to €85 million in the first quarter (Q1) of 2011 compared to the same period in 2010 due to a low level of activity during the period.

By Renewable Energy Focus staff

The EBIT loss widened 77% to €69m despite a 25% increase in revenues to €1060m.

For the full year, Vestas still expects order intakes of 7-8 GW, and revenues of €7 billion. For the first half of the year, Vestas predicts an EBIT loss of €219m before an increased level of activity in the second half.

Vestas has recently announced its 7 MW offshore wind turbine, the V164, which is expected to enter production in 2015.

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