“I see this as positive because I think that we are now living the first stages of the new Vestas,” Picardo tells Recharge in an interview. “Today we see that Vestas is quite fat... bigger than we need.”

Despite a loss of €166m ($217m) for 2011, Picardo focuses on Vestas’ “healthy position in gathering new business”, which he says includes the best sales over the past three years.

Higher