Northern Colorado Business Report – Feb. 11, 2009
RANDERS, DENMARK – Vestas Wind Systems A/S reported its largest ever fourth quarter revenue and 24 percent increase in revenue for the year.
The Danish company reported 2008 revenue of almost $7.8 billion and fourth-quarter revenue of $3.2 billion. Profit for the year was $659.5 million, up from $375.4 million in 2007. All values were converted from the current exchange rate on euros to U.S. dollars.
The company also reported that it grew its worldwide employment from 15,305 at the end of 2007 to 20,829 at the end of 2008.
The company stated it anticipated growth in 2009, albeit not at the rate it has experienced during the past three years. Vestas operates a wind-turbine blade manufacturing facility in Windsor, CO and is opening additional facilities in Pueblo and Brighton. The company plans to double its turbine manufacturing capability by 2010.