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Business

Vestas unveils surprising first quarter results

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May 9th, 2014


This article is more than 10 years old.

Defying dour expectations, the wind turbine giant posts profits of 202 million kroner

The Danish wind turbine giants Vestas posted surprising profits in its 2014 first quarter financial results, the first time since 2009 that the company has shown profits in a first quarter.

With operating profits of 202 million kroner, the result goes against dour analyst expectations and much improved from the 911 million-kroner operating loss that the company endured in last year’s first quarter.

“As we expected, first quarter showed improvements in all major areas,” Vestas head, Anders Runevad, said in a press release. “This is a result of a lot of hard work from my colleagues and we remain focused on executing on our strategy, Profitable Growth for Vestas.”

READ MORE: Vestas scandal continues to widen

Annual status quo 
Vestas also showed 15 million kroner net profits, a huge upswing from the 1.1 billion kroner net loss it suffered during the same financial period in 2013.

Turnover increased to 9.58 billion kroner from 8.18 billion kroner the year before, which is also above analyst predictions.

Despite the encouraging results, the company will maintain its annual expectations for 2014.


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Moreover, 21 percent of those surveyed admitted to medicating their kids with paracetamol, such as Panodil, before sending them to school.

The FOLA parents’ organisation is shocked by the findings.

“I think it is absolutely crazy. It simply cannot be that a child goes to school sick and plays with lots of other children. Then we are faced with the fact that they will infect the whole institution,” said FOLA chair Signe Nielsen.

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At the Børnehuset daycare institution in Silkeborg a meeting was called where parents were implored not to bring their sick children to school.

At Børnehuset there are fears that parents prefer to pack their kids off with a pill without informing teachers.

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Parents, when confronted, often cite pressure at work as a reason for not being able to stay at home with their children.

Many declare that they simply cannot take another day off, as they are afraid of being fired.

Allan Randrup Thomsen, a professor of virology at KU, has heavily criticised the parents’ actions, describing the current situation as a “vicious circle”.

“It promotes the spread of viruses, and it adds momentum to a cycle where parents are pressured by high levels of sick-leave. If they then choose to send the children to daycare while they are still recovering, they keep the epidemic going in daycares, and this in turn puts a greater burden on the parents.”