Vestas Wind Systems A/S

Vestas Wind Systems is an industrial machinery and equipment manufacturing company based in Denmark. Co. is engaged in the production of wind turbines. Co.'s main activities comprise development, manufacture, sale, marketing and maintenance of installations that use wind energy to generate electricity. Co. supplies products, from individual turbines to the delivery of turnkey wind power installations globally. Co. supplies guidance services to its customers in connection with the development, financing and ownership of wind turbine projects. Co.'s main customers are utilities and energy companies.
  • TickerVWS
  • ISINDK0010268606
  • ExchangeNasdaq Nordic Copenhagen
  • SectorAlternative Energy
  • CountryDenmark

Analysts

1 director bought

A director at Vestas Wind Systems bought 5,451 shares at 510.400DKK and the significance rating of the trade was 67/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names o...

Eivind Sars Veddeng

Vestas Wind Systems (Hold, TP: DKK560.00) - Still risk of further reductions

Vestas now sees a lower 2019e EBIT margin citing higher transportation costs due to tariffs and high activity. We believe this will persist into 2020e and, along with a highly back-end loaded 2019e, we see risk of further consensus (and guidance) cuts. We have cut our 2019–2020e EBIT by 4–5% and our target price to DKK560 (600). We retain our HOLD.

Eivind Sars Veddeng

Vestas Wind Systems (Hold, TP: DKK600.00) - Downside risk to 2019 guidance

We are in line with consensus on Q2e EBIT at EUR151m, but expect focus to be on the 2019 guidance and execution, where we see risk to the downside on supply-chain pressure. We have lowered our 2019e EBIT by 6% due to a shifting of volumes to next year, and in turn raised our 2020e EBIT by a similar amount. We reiterate our HOLD but have lowered our target price to DKK600 (610).

Eivind Sars Veddeng

Vestas Wind Systems (Hold, TP: DKK610.00) - Increasing execution risk

2019 is turning out to be even more back-end loaded increasing execution risk for H2. We view pricing stability and the group’s improving market share as positives, but consider a strong end to the decade well reflected in the share price. We have made limited changes to our full-year estimates post Q1, and reiterate our HOLD recommendation and NOK610 target price.

Andreea Matysiak

Morningstar | Vestas' Sluggish Start to Year Should Not Worry Investors; Shares Slightly Undervalued

No-moat Vestas published first-quarter results a day after its main rival, Siemens Gamesa. Vestas seems to be lagging SG, given its reported 2% revenue growth and 490-basis-point EBIT margin decline from the first quarter of 2018. However, there is more in these quarterly results than meets the eye. We expect the main negative factor, pricing, to be redressed in the next quarters. We maintain our full-year forecast and DKK 640 fair value estimate. The culprit of the sluggish results was the power solution division. Unlike SG, Vestas' revenue and operating EBIT do not include offshore, which t...

Andreea Matysiak

Morningstar | Vestas' Sluggish Start to Year Should Not Worry Investors; Shares Slightly Undervalued

No-moat Vestas published first-quarter results a day after its main rival, Siemens Gamesa. Vestas seems to be lagging SG, given its reported 2% revenue growth and 490-basis-point EBIT margin decline from the first quarter of 2018. However, there is more in these quarterly results than meets the eye. We expect the main negative factor, pricing, to be redressed in the next quarters. We maintain our full-year forecast and DKK 640 fair value estimate. The culprit of the sluggish results was the power solution division. Unlike SG, Vestas' revenue and operating EBIT do not include offshore, which t...

1 director bought

A director at Vestas Wind Systems bought 5,451 shares at 510.400DKK and the significance rating of the trade was 67/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names o...

Christoffer Wang Bjørnsen ...
  • Eivind Sars Veddeng
  • Joachim Gunell
  • Nicolay Dyvik
  • Ole-Andreas Krohn
  • Simen Mortensen

Northern Lights

Eivind Sars Veddeng ...
  • Håkon Astrup
  • Nicolay Dyvik
  • Ole-Andreas Krohn
  • Rune Majlund Dahl
  • Tomi Railo

Northern Lights

Christoffer Wang Bjørnsen ...
  • Eivind Sars Veddeng
  • Håkon Astrup
  • Jon Masdal
  • Jørgen Lian
  • Karl-Johan Bonnevier
  • Martin Hoang Nguyen
  • Mats Bye
  • Nicolay Dyvik
  • Ole-Andreas Krohn
  • Patrik Ling
  • Simen Mortensen
  • Stefan Gauffin

Northern Lights

Eivind Sars Veddeng ...
  • Håkon Astrup
  • Jimi Lehtonen
  • Jon Berggren
  • Karl-Johan Bonnevier
  • Mattias Holmberg
  • Niclas Gehin
  • Nicolas McBeath
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Olof Larshammar
  • Patrik Ling
  • Rune Majlund Dahl
  • Simen Mortensen
  • Stefan Gauffin
  • Tomi Railo

Northern Lights

Christoffer Wang Bjørnsen ...
  • Eivind Sars Veddeng
  • Håkon Astrup
  • Jesper Ingildsen
  • Jon Masdal
  • Karl-Johan Bonnevier
  • Marius Knudssøn
  • Martin Hoang Nguyen
  • Niclas Gehin
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Simen Mortensen

Northern Lights

Venkatraman Varun

Vestas Wind Systems

Venkatraman Varun

Vestas Wind Systems

Venkatraman Varun

Vestas Wind Systems

Venkatraman Varun

Vestas Wind Systems

Venkatraman Varun

Vestas Wind Systems

Expert Corporate Governance Service (ECGS)

Vestas Wind Systems April 03rd, 2019

In general, Vestas is in compliance with the Danish regulations relating to the organisation and procedures of the Annual General Meeting. Under ITEM 4.2a, it is proposed to re-appoint Mr. Bert Nordberg as Chairman of the board of directors. Although he is considered independent, ECGS notes that Mr. Nordberg is currently chairing the Company's nomination- and remuneration committee, which is not in accordance with its guidelines. ECGS furthermore notes a lack of female representation (25%) on the board and based on its guidelines the re-election of the chairman of the nomination committee is ...

Vestas Wind – Proxinvest Corporate Governance Rating ® : C

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

Expert Corporate Governance Service (ECGS)

Proxy Report - 03/04/2018

In general, Vestas is in compliance with the Danish regulations relating to the organisation and procedures of the Annual General Meeting. Under ITEMS 4.2a-4.2i, the (re-)election of the board of directors is proposed. ECGS has concerns over the aggregate time commitments of Mr. Bert Nordberg (ITEM 4.2a) and Mr. Henrik Andersen (ITEM 4.2d). Therefore, ECGS normally would haverecommended opposition. However, considering that the proxy card does not permit this, it recommends abstention instead. Under ITEM 6, the board of directors proposes to re-appoint PricewaterhouseCoopers as the Company

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