Stability boosts Vestas profile

Morten Albæk says Vestas is working 'as fast as possible' to comply with BNDES regulations

Morten Albæk

Successive quarters of financial stability have returned wind market-leader Vestas to the status of trusted partner for its customers, said group senior vice-president and chief marketing officer Morten Albæk.

Vestas today unveiled healthy second-quarter profits and raised its profitability guidance for the year, with CEO Anders Runevad hailing another “solid” period that “showed improvements in most areas”.

The position is a big turnaround from Vestas’ plight as recently 2012, when it was posting losses and some in the market were nervous about what the future might hold for the Danish group.

“That’s our hope and what our continuous measurements of our reputation are indicating," said Albæk. “That Vestas is being perceived as a stable, competent and trustworthy company that you can count on to be there for the long run.”

And the Vestas marketing chief pointed to increasing order intake and backlog as the hardest possible evidence of the company’s standing. “That’s two strong indicators that our reputation is up at a strong level.”

Albæk said while making quarterly progress, Vestas also has its eyes on a mid-term approach that will see it make advances in China, India and Brazil – the three ‘must-win’ high-growth markets it has identified.

“I want to stress that out strategy there is mid-term, it’s a three to four year perspective from now,” he said.

Albæk said the wind group could readdress the Indian and Chinese markets with the benefits of its renewed financial solidity and new strategy.

"Don't forget in India we more or less pulled out of the market back in 2012 as part of our turnaround. Now we re-enter it with focus and determination. Nonetheless it will take some time."

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