Vestas wind turbine manufacturer profits increase sharply

Danish company credits strong order growth for positive financial report

Vestas' wind turbine business saw a significant increase in profits in the first half of the year, the company announced on Wednesday.

The Danish company said its pre-tax profit for the period rose by 44% to €442 million ($490 million), while its revenue increased by 16% to €2.3 billion ($2.5 billion).

Vestas said the strong results were driven by a surge in orders for its wind turbines. The company's order intake for the first half of the year reached €5.6 billion ($6.2 billion), up 35% from the same period last year.

"We are very pleased with the strong results we have delivered in the first half of the year," said Vestas CEO Henrik Andersen. "Our order intake was very strong, and we have also seen a significant improvement in our profitability. This demonstrates that our strategy is working, and we are well-positioned to continue to grow our business in the years to come."

Vestas is one of the world's leading wind turbine manufacturers. The company has installed more than 100,000 wind turbines in 80 countries around the world.