Vestas aims at growth in China, India and Brazil

Jun 12, 2014 - Danish wind turbine maker Vestas Wind Systems A/S (CPH:VWS) is getting ready to expand in China, India and Brazil, according to its chief sales officer Juan Araluce, who talked to analysts and investors today.

Araluce sees room for improvement in the specific emerging markets, he said as cited by Reuters. According to the sales head, the company has brought its reputation back on track and stabilised the general satisfaction among customers following the restructuring measures it took.

Vestas also reaffirmed its 2014 forecast for revenues of at least EUR 6 billion (USD 8.1bn) and an operating profit margin before special items of over 5%. The company’s free cash flow is seen at more than EUR 300 million.

China ranked as the most attractive market for onshore wind power in the June 2014 issue of Ernst & Young's country attractiveness indices for renewables energy. It occupied the third position when it comes to offshore wind. Meanwhile, India scored eight in onshore and Brazil ranked seventh.

(EUR 1.0 = USD 1.354)

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