Inspired by the Global Wind Report of the Global Wind Energy Council (GWEC), we are researching the valuation and financial situation of companies being active in this high growth segment. We have followed up on our clean-tech company modeling with Vestas Wind Systems: current valuation shows a notable discount. Click here for the actual stock quote.



Profile
Vestas is the world leader in delivering Modern Energy.
Vestas’ core business comprises the development, manufacture, sale and maintenance of wind technology that uses the energy of the wind to generate electricity.
Vestas specializes in planning, installation, operation and maintenance. Vestas can supply guidance to customers in connection with the development, financing and ownership of wind power projects. However, Vestas never participates directly in these activities. On the contrary, Vestas is the independent system supplier. Vestas is distinguished by a high degree of vertical integration. By manufacturing the principal parts of the turbine itself, Vestas increases the flexibility of product development, reduce dependence on suppliers, and maintain a high level of manufacturing know-how.

Short term
Vestas Wind Systems A/S announced that it has reaffirmed its revenue guidance to rise by 20% to EUR 7.2 billion and EBIT margin of between 11% and 13% for the fiscal 2009.

Longer term
A  +15% long term Revenue CAGR might proof to be a floor instead of a ceiling for Vestas.

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the author has no position in this stock at the moment of publishing

 

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•   |2009-09-22 13:32:58 dcf9  - When the going gets though
  vestas has higher margins because it is more integrated than nordex.
  Also the positive difference (vs nordex) in revenue growth for 2009, a year with adverse marketcircumstances because of the C-crunch, is staggering. When the going gets though, the tough gets going...
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•   |2009-09-23 09:51:47 alumini  - vestas nordex
  hasn't vestas become to big to keep on growing at this rate?
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•   |2009-09-23 09:55:52 ppeer  - re: vestas nordex
  alumini wrote:

  hasn't vestas become to big to keep on growing at this rate?

  
  
  growth seems to be limited by production, not by demand. Vestas is a very efficient producer: why would they grow below average vs the market?
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