Vestas Wind Systems AS (OTCPK:VWDRY)
$ 4.85 -0.12 (-2.41%) Market Cap: 14.70 Bil Enterprise Value: 15.78 Bil PE Ratio: 242.50 PB Ratio: 4.75 GF Score: 78/100

Q3 2021 Vestas Wind Systems A/S Earnings Call Transcript

Nov 03, 2021 / 09:00AM GMT
Release Date Price: $11.62 (-15.61%)
Henrik Andersen;S;Group President;CEO
Vestas Wind Systems A

/-&

Good morning, and welcome to this investor presentation of Vestas' third quarter 2021. A warm welcome to everyone, and especially also a warm welcome to Marika here next to me, which we'll talk more about.

But first of all, to the key highlights for the quarter. As announced this morning, Marika will be stepping down 1st of March 2022. We have an internal successor, Hans Martin Smith, who is our current CFO of Vestas North & Central Europe, who will succeed Marika in March the coming year. So there is at least a number of months to hand over. And I hope you will all congratulate Marika and also Hans Martin on this call.

Secondly, we were awarded the largest preferred supply agreement to date. We were -- the PSA was awarded in the Empire Wind project in the U.S. from Equinor and bp. And that comes on top of an onshore order intake of 3.7 gigawatts in the quarter.

Revenue ended at EUR 5.5 billion in the quarter. It's the highest-ever quarterly revenue. And we

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