Vestas delivers worse-than-expected 2011 result

Good news for birds.

The Copenhagen Post reports:

Wind turbine maker Vestas suffered pretax losses of 1.1billion kroner in 2011, far higher than the 450 million kroner loss which was expected.

The numbers were announced on Wednesday and were followed by the news that chairman Bent Erik Carlsen, his deputy chairman, and the company’s head of finance will leave after the annual general meeting in March.

The company had already lowered its earnings forecast, but after the loss turned out to be almost triple what was expected, the company has now decided not to publish its expected number of orders for coming years…

Read the entire report.

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