Tillkännagivande • Aug 05
Vestas Announces Executive Changes Vestas announced that Anna Mascolo was appointed as President of Vestas Northern & Central Europe and Global Offshore. Anna Mascolo succeeded Nils de Baar, who after more than ten years as Regional President decided to retire from operational roles, following an exceptional tenure marked by strong growth, market expansion, and deep customer partnerships. Anna Mascolo joined Vestas from Shell, where she most recently served as Executive Vice President of Low Carbon Solutions, leading Shell's global business focused on delivering decarbonisation solutions for customers. She brought more than 25 years of international leadership experience in energy, spanning research, trading, aviation, chemicals, M&A and low-carbon technologies. Prior to her current role, she held several senior leadership positions at Shell, including President of Global Aviation, Vice Chair of the Raizen Board and currently serves on the board of Rolls-Royce SMR. Anna Mascolo had her first day at Vestas on August 3, 2026, while Nils de Baar will leave Vestas by end of September following a thorough handover with partners and colleagues at Vestas. As President of Northern & Central Europe and Global Offshore, Anna Mascolo will be responsible for leading Vestas sales, construction, service, and development activities of onshore wind across the region as well as Global Offshore, supporting customers in their efforts to deliver affordable, secure, and sustainable energy. Recent Insider Transactions • May 09
Executive Vice President of Service recently sold €1.5m worth of stock On the 6th of May, Christian Venderby sold around 60k shares on-market at roughly €25.79 per share. This transaction amounted to 29% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €1.4m more than they bought in the last 12 months. Tillkännagivande • May 08
Vestas Wind Systems A/S Maintains Earnings Guidance for the Full Year 2026 Vestas Wind Systems A/S maintained earnings guidance for the full year 2026. For the full-year, the company revenue is expected to range between EUR 20 billion and EUR 22 billion, including Service revenue; and EBIT margin before special items for the Group of 6% - 8%. Reported Earnings • May 07
First quarter 2026 earnings released: EPS: €0.08 (vs €0.005 in 1Q 2025) First quarter 2026 results: EPS: €0.08 (up from €0.005 in 1Q 2025). Revenue: €3.97b (up 14% from 1Q 2025). Net income: €82.0m (up €77.0m from 1Q 2025). Profit margin: 2.1% (up from 0.1% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 6.9% p.a. on average during the next 3 years, compared to a 8.9% growth forecast for the Electrical industry in Europe. Over the last 3 years on average, earnings per share has increased by 116% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Apr 28
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to €25.78, the stock trades at a forward P/E ratio of 24x. Average forward P/E is 17x in the Electrical industry in Europe. Total returns to shareholders of 2.7% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €26.48 per share. Tillkännagivande • Apr 01
Vestas Wins 62 MW Onshore Order in Germany Vestas announced the following orders as part of the First Quarter order intake: In Germany, within the NCE region, JUWI GmbH is the customer for the Olsberg-Plackweg project, which has a total capacity of 62 MW. The project will utilize 10 units of the V162-6.2 MW turbine variant. A 20-year AOM 4000 Service Agreement has been signed for this project. Delivery is planned to begin in Fourth Quarter 2027, and commissioning is scheduled to begin in Second Quarter 2028. Tillkännagivande • Mar 07
Vestas Wind Systems A/S, Annual General Meeting, Apr 08, 2026 Vestas Wind Systems A/S, Annual General Meeting, Apr 08, 2026, at 15:00 Romance Standard Time. Location: companys headquarters, hedeager 42, 8200 aarhus n, Denmark Tillkännagivande • Nov 05
Vestas Wind Systems A/S Revises Earnings Guidance for Year 2025 Vestas Wind Systems A/S revised earnings guidance for year 2025. Based on the results for the first nine months, the company narrowing the outlook for the year. Expectations to revenue are now between EUR 18.5-19.5 billion (previously EUR 18-20 billion). Tillkännagivande • Sep 06
Vestas Wind Systems A/S (CPSE:VWS) completed the acquisition of Blades factory of LM Wind Power in Poland from LM Wind Power A/S. Vestas Wind Systems A/S (CPSE:VWS) agreed to acquire Blades factory of LM Wind Power in Poland from LM Wind Power A/S on May 15, 2025. This transaction allows Vestas to take direct control of a site that was already partially dedicated to it.
The transaction is subject to approval by regulatory board / committee.
Vestas Wind Systems A/S (CPSE:VWS) completed the acquisition of Blades factory of LM Wind Power in Poland from LM Wind Power A/S on September 5, 2025. Tillkännagivande • May 16
Vestas Wind Systems A/S (CPSE:VWS) agreed to acquire Blades factory of LM Wind Power in Poland from LM Wind Power A/S. Vestas Wind Systems A/S (CPSE:VWS) agreed to acquire Blades factory of LM Wind Power in Poland from LM Wind Power A/S on May 15, 2025. This transaction allows Vestas to take direct control of a site that was already partially dedicated to it.
The transaction is subject to approval by regulatory board / committee. Board Change • Apr 10
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 5 independent directors. 7 non-independent directors. Independent Director Henriette Thygesen was the last independent director to join the board, commencing their role in 2024. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Tillkännagivande • Apr 09
Vestas Wind Systems A/S Approves Dividend for the Financial Year 2024 Vestas Wind Systems A/S at its Annual General Meeting held on 8 April 2025, approved for allocation of the result of the year, including a dividend of DKK 0.55 per share to be paid out for the financial year 2024. Tillkännagivande • Apr 08
Vestas Wind Systems A/S Appoints New Board Members Vestas Wind Systems A/S, at its AGM, held on 08 April 2025, approved the Bruno Stéphane Emmanuel Bensasson and Claudio Facchin were elected as new members of the Board of Directors. Tillkännagivande • Mar 08
Vestas Wind Systems A/S, Annual General Meeting, Apr 08, 2025 Vestas Wind Systems A/S, Annual General Meeting, Apr 08, 2025, at 15:00 Romance Standard Time. Location: companys headquarters, hedeager 42, 8200 aarhus n, Denmark Tillkännagivande • Feb 07
Vestas Wind Systems A/S Provides Revenue Guidance for the Year 2025 Vestas Wind Systems A/S provided revenue guidance for the year 2025. For the year 2025, The revenue is expected between EUR 18 billion to EUR 20 billion. Board Change • Jan 21
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 6 non-independent directors. Independent Director Lena Olving was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Tillkännagivande • Jan 15
Jakob Wegge-Larsen to Become Vestas Wind Systems A/S' New Chief Financial Officer Vestas Wind Systems A/S announced that Jakob Wegge-Larsen will become chief financial officer (CFO) at Vestas and member of Executive Management. He is expected to take up the position as CFO during the second quarter of 2025. Jakob Wegge-Larsen joins Vestas from DB Schenker where he currently serves as CFO and member of the Management Board. Prior to becoming CFO at DB Schenker in 2023, Jakob obtained extensive international experience through global and regional CFO roles within the Maersk Group, Hamburg Süd, and MSC Denmark. Rasmus Gram will continue as interim CFO until Jakob Wegge-Larsen starts and conduct a thorough handover as part of Jakob's induction. Jakob Wegge-Larsen is 48 years old, holds an MBA from Henley Business School in the UK, and lives in Denmark with his wife and two kids. Detailed biography is attached as an appendix. Jakob succeeds Hans Martin Smith who left Vestas in December 2024 to pursue new challenges after more than 20 years at Vestas, ref. Company Announcement no. 20/2024. Tillkännagivande • Dec 04
Vestas Wind Systems Announces Stepping Down of Hans Martin Smith as Chief Financial Officer by the End of 2024 Vestas Wind Systems A/S announced that after more than 20 years in the company, Hans Martin Smith has decided to step down as Chief Financial Officer (CFO) by end of 2024; a role he has held since 1 March 2022. Hans Martin Smith leaves the company having served as CFO during a challenging and volatile period where he helped Vestas turn a heavily loss-making 2022 into a profitable 2023 and oversee Vestas continuing its positive profitability trajectory in 2024. Vestas has started the process to find a successor to Hans Martin Smith and will announce his replacement in due time. Until a successor has been found, CFO responsibilities will be handled by Senior Vice President and Head of Group Financial Performance, Rasmus Gram. Board Change • Nov 26
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 6 non-independent directors. Independent Director Lena Olving was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Tillkännagivande • Aug 14
William Fehrman Steps Down from the Board of Directors of Vestas Wind Systems A/S William Fehrman, who was elected as member of the Board of Directors of Vestas Wind Systems A/S on the Annual General Meeting 2024, has decided to step down from his board position with effect as of 14 August 2024. William Fehrman has taken this decision to avoid any potential conflict of interest as he has been elected by the Board of Directors of American Electric Power Company Inc. to lead the company as Director, President and Chief Executive Officer. Tillkännagivande • Aug 13
Vestas Wind Systems A/S Narrows Earnings Guidance for the Year 2024 Vestas Wind Systems A/S narrowed earnings guidance for the year 2024. The company narrows the financial outlook for 2024 on revenue to EUR 16.5 billion-17.5 billion (from EUR 16 billion-18 billion). Tillkännagivande • Apr 10
Vestas Wind Systems A/S Announces Board of Directors Changes Vestas Wind Systems A/S announced that at the AGM was held on 9 April 2024, the company announced that Bruce Harvey Grant and Kentaro Hosomi did not stand for re-election and were replaced by William (Bill) Fehrman and Henriette Hallberg Thygesen. Tillkännagivande • Mar 20
Vestas Wind Systems A/S Announces Board Changes The employees in Vestas Wind Systems A/S have completed the ordinary election for company representation on the Board of Directors according to the current Danish law on employee representation. The following were elected for the next four years: Louise B. Schmidt Nielsen, Supply Chain & Transport HSE Specialist (newly elected). The elected employee representatives will join the Board of Directors following the Annual General Meeting of Vestas Wind Systems A/S on 9 April 2024. At the same time the current board member Pia Kirk Jensen, who was not re-elected, will resign. On 22 March 2024, the ordinary election of two Group representatives among the employees in the Vestas Group's Danish companies will take place, according to the current law on employee representation. Tillkännagivande • Feb 19
Climate Finance Partnership Fund SCSp, a fund managed by Blackrock acquired 12.5% stake in Lake Turkana Wind Power Limited from Vestas Wind Systems A/S (CPSE:VWS). Climate Finance Partnership Fund SCSp, a fund managed by Blackrock acquired 12.5% stake in Lake Turkana Wind Power Limited from Vestas Wind Systems A/S (CPSE:VWS) on February 19, 2024. Vestas will continue to service the turbines, each with a capacity of 850 kilowatts. Climate Finance Partnership Fund SCSp, a fund managed by Blackrock completed the acquisition of 12.5% stake in Lake Turkana Wind Power Limited from Vestas Wind Systems A/S (CPSE:VWS) on February 19, 2024. Tillkännagivande • Feb 07
Vestas Wind Systems A/S Provides Earnings Guidance for the Year 2024 Vestas Wind Systems A/S provided earnings guidance for the year 2024. For the period, Revenue is expected to range between EUR 16 billion and 18 billion, including Service revenue. Vestas expects to achieve an EBIT margin before special items of 4-6%. Tillkännagivande • Jan 16
Vestas Introduces Low-Emission Steel Offering for Wind Turbines Vestas has established a partnership with ArcelorMittal to launch a low-emission steel offering that significantly reduces lifetime carbon dioxide emissions from the production of wind turbine towers. This is yet another initiative where Vestas continues to execute on its sustainability strategy which also includes addressing the materials, the company uses to make wind turbines. The low-emission steel is produced using 100% steel scrab which is melted in an electric arc furnace powered by 100% wind energy at the ArcelorMittal steel mill, Industeel Charleroi, in Belgium. The steel slabs are then transformed into heavy plates used for the manufacture of wind turbine towers, at ArcelorMittal's heavy plate mill in Gijon, Spain. These heavy plates made with low-emission steel are initially suitable for the entire onshore wind turbine towers and the top section of offshore wind turbine towers. The low-emission heavy plate steel has an Environmental Product Declaration (EPD), certified by an independent party, detailing the complete environmental footprint of the product, and allowing easier comparison between products. By utilising low-emission steel in the top two sections of an offshore tower, this emission reduction would translate to approximately 25% reduction of emission compared to a tower made from steel made via conventional steelmaking route. For an entire onshore tower, the CO2 reduction is at least 52%. Steel and iron constitute 80-90% of a wind turbine's material mass, and approximately 50% of a turbine's total lifecycle emissions. With the partnership with ArcelorMittal, Vestas takes an important step forward to reduce CO2 emissions occurred in its supply chain and can achieve a 66% decrease in emission intensity per kg steel compared with steel produced via the conventional steelmaking route. Even though the low emission steel is not yet a standard offering from Vestas, the first project utilizing low-emission steel will be the Baltic Power Offshore Wind Project off the coast of Poland. During 2025, Vestas will start the onstruction of the offshore wind farm, expected to generate up to up to 1.2 GW and ultimately supply clean electricity to more than 1,5 million households in Poland. Vestas will supply, install, and commission 76 V236-15.0 MW wind turbines for the Baltic Power Offshore Wind Project. The top section of 52 towers out of the 76 will be made with low-emission steel. Tillkännagivande • Nov 10
Vestas Wind Systems A/S Revises Revenue Guidance for the Full Year 2023 Vestas Wind Systems A/S revised revenue guidance for the full year 2023. The company now expected revenue to range between EUR 14.5 billion to 15.5 billion (previously EUR 14.0 billion-15.5 billion), including Service, which is still expected to grow around 10%. Tillkännagivande • Oct 05
Vestas Appoints Anne Pearce as New Chief People & Culture Officer Vestas announced that Anne Pearce will become new Executive Vice President of People & Culture and join Vestas' Executive Management Team. Anne Pearce will join Vestas as Chief People & Culture Officer (CPCO) on 2 January 2024 and comes from a position as Vice President of Human Resources at Shell plc, one of the world's energy majors. In the role, Anne Pearce will lead the continued development of P&C organisation and efforts to attract, develop, and retain employees, which is key for Vestas to become the global leader in sustainable energy solutions. Prior to joining Shell, Anne Pearce built her strong international profile through HR leadership roles within industrial companies in North America, EU and Asia Pacific. Anne Pearce was born in New Zealand before moving to Australia and currently lives in the United Kingdom. Prior to joining Vestas, Anne Pearce had leadership positions in AXA, Bluescope Steel, ArcelorMittal and Shell. As part of joining Vestas, Anne Pearce will relocate to Denmark. Born: 1974, Former positions 2021-2023 Shell, Vice President, Human Resources, Liquified Natural Gas (UK) 2016-2021 Shell, Vice President, Human Resources, Global (NL+UK) 2014-2016 Shell, Vice President, Human Resources, Deepwater (US) 2009-2013 ArcellorMittal, General Manager Human Resources, Mining (UK) 2008-2009 ArcellorMittal General Manager, Human Resources, Strategy, Organizational Design & Diversity & Inclusion (UK) 2004-2008 Bluescope Steel, various HR leadership roles (AU+CN). Education 1994 BComm, Economics, University of Melbourne, Australia. Tillkännagivande • Aug 30
Kerstin Knapp to Step Down as Vestas' Chief People & Culture Officer Vestas to scale and mature at unprecedented levels, and a key aspect is continued ability to attract, develop, and retain employees. For Vestas to succeed in this, will continue to evolve culture and People & Culture (P&C) services and operations across entire business. As a next step in this evolution, Vestas is announcing will change Chief People & Culture officer, following Kerstin Knapp's decision to pursue a career outside Vestas. Kerstin Knapp joined the company in 2020 and has led efforts to reinforce Vestas' culture, leadership and P&C Services during a challenging period that included a pandemic, a cyber-attack and an energy crisis. Kerstin Knapp will have her last day at Vestas on 31 August. The process for finding a new Chief People & Culture Officer has commenced and follows Vestas' Executive Management nomination process, which includes both internal and external candidates. Once finalised, will announce Kerstin Knapp's successor in due time. Reported Earnings • Aug 10
Second quarter 2023 earnings released: €0.12 loss per share (vs €0.12 loss in 2Q 2022) Second quarter 2023 results: €0.12 loss per share (in line with 2Q 2022). Revenue: €3.43b (up 3.8% from 2Q 2022). Net loss: €115.0m (loss narrowed 3.4% from 2Q 2022). Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 6.8% growth forecast for the Electrical industry in Europe. Tillkännagivande • Aug 10
Vestas Wind Systems A/S Provides Earnings Guidance for the Full Year 2023 Vestas Wind Systems A/S provided earnings guidance for the full year 2023. For the year, the company expects revenue of EUR 14.0 billion - 15.5 billion. Reported Earnings • May 11
First quarter 2023 earnings released: EPS: €0.01 (vs €0.76 loss in 1Q 2022) First quarter 2023 results: EPS: €0.01 (up from €0.76 loss in 1Q 2022). Revenue: €2.83b (up 14% from 1Q 2022). Net income: €15.0m (up €780.0m from 1Q 2022). Profit margin: 0.5% (up from net loss in 1Q 2022). The move to profitability was primarily driven by higher revenue. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 6.8% growth forecast for the Electrical industry in Europe. Tillkännagivande • May 10
Vestas Wind Systems A/S Maintains Earnings Guidance for the Year 2023 Vestas Wind Systems A/S maintained earnings guidance for the year 2023. For the period, the company expects revenue of EUR 14.0 billion to EUR 15.5 billion including Service revenue, which is expected to grow min. 5%. The company expects to achieve an EBIT margin before special items of (2)-3% with a Service EBIT margin of approx. 22%. Reported Earnings • Feb 10
Full year 2022 earnings released: €1.56 loss per share (vs €0.17 profit in FY 2021) Full year 2022 results: €1.56 loss per share (down from €0.17 profit in FY 2021). Revenue: €14.5b (down 7.1% from FY 2021). Net loss: €1.57b (down €1.74b from profit in FY 2021). Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 6.1% growth forecast for the Electrical industry in Europe. Tillkännagivande • Jan 28
Vestas Wind Systems A/S Provides Revenue Guidance for the Full Year 2023 Vestas Wind Systems A/S provides revenue guidance for the full year 2023. The company expects revenue of EUR 14.0 billion to EUR 15.5 billion. Board Change • Nov 16
Less than half of directors are independent There are 6 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 5 independent directors. 7 non-independent directors. Independent Director Karl-Henrik Sundstrom was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Reported Earnings • Nov 03
Third quarter 2022 earnings released: €0.15 loss per share (vs €0.11 profit in 3Q 2021) Third quarter 2022 results: €0.15 loss per share (down from €0.11 profit in 3Q 2021). Revenue: €3.91b (down 29% from 3Q 2021). Net loss: €147.0m (down 228% from profit in 3Q 2021). Revenue is forecast to grow 9.3% p.a. on average during the next 3 years, compared to a 6.9% growth forecast for the Electrical industry in Europe. Reported Earnings • Aug 11
Second quarter 2022 earnings released: €0.12 loss per share (vs €0.09 profit in 2Q 2021) Second quarter 2022 results: €0.12 loss per share (down from €0.09 profit in 2Q 2021). Revenue: €3.31b (down 6.5% from 2Q 2021). Net loss: €119.0m (down 234% from profit in 2Q 2021). Over the next year, revenue is expected to shrink by 1.4% compared to a 12% growth forecast for the industry in Europe. Buying Opportunity • Jul 01
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 28%. The fair value is estimated to be €25.56, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Meanwhile, the company became loss making. Revenue is forecast to decline by 3.5% in a year. Earnings is forecast to grow by 4.1% in the next year. Buying Opportunity • May 09
Now 24% undervalued after recent price drop Over the last 90 days, the stock is down 1.4%. The fair value is estimated to be €27.99, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Meanwhile, the company became loss making. Revenue is forecast to decline by 2.9% in a year. Earnings is forecast to grow by 19% in the next year. Reported Earnings • May 02
First quarter 2022 earnings released: €0.76 loss per share (vs €0.06 loss in 1Q 2021) First quarter 2022 results: €0.76 loss per share (down from €0.06 loss in 1Q 2021). Revenue: €2.49b (up 27% from 1Q 2021). Net loss: €765.0m (loss widened €704.0m from 1Q 2021). Over the next year, revenue is expected to shrink by 2.0% compared to a 17% growth forecast for the industry in Europe. Board Change • Apr 27
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 5 independent directors. 7 non-independent directors. Independent Director Karl-Henrik Sundstrom was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Reported Earnings • Feb 16
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: €0.17 (down from €0.78 in FY 2020). Revenue: €15.6b (up 5.2% from FY 2020). Net income: €167.0m (down 78% from FY 2020). Profit margin: 1.1% (down from 5.2% in FY 2020). Revenue was in line with analyst estimates. Over the next year, revenue is forecast to stay flat compared to a 18% growth forecast for the industry in Europe. Board Change • Dec 10
High number of new directors There are 7 new directors who have joined the board in the last 3 years. Director Kentaro Hosomi was the last director to join the board, commencing their role in 2021. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. 
