Vestas unveils a further 3,000 jobs cut

08/11/2012 13:00 Renewable


Vestas, the Danish wind turbine maker, announced it will cut a further 3,000 jobs, planning to reduce its total headcount to 16,000 by the end of 2013.

The job cuts came after Vestas unveiled its results, showing that its third-quarter loss almost trebled to €175 million ($224 million) amid stiff competition and a market slowdown. Its earnings before interest and tax (EBIT) before special items reached 13 million euros, far below an average forecast for a 53.2 million profit, according to estimations made by Reuters. Vestas said revenues for the third quarter had increased 49 per cent year-on-year to just under €2billion, while it also recorded two consecutive profitable quarters with pre-tax profits hitting €13 million. Vestas shares tumbled 13 percent to 26.65 kroner at the close of Copenhagen trading, a three-month low, after falling as much as 17 percent, the biggest intraday drop since January 4.

Growth in global carbon emissions slowed in 2019

04/12/2019 08:56:00

A surprise drop in coal use in the United States and Europe has helped to slow the growth of global carbon dioxide emissions this year, with softening demand in China and India also contributing, according to a study published on Wednesday.


Daily (03.12.2019): NBP gas forward prices strongly bearish on Monday due to robust supplies from LNG terminals and from Norway

03/12/2019 11:26:00

Brent crude declined on Monday on concerns about global oil oversupply and limited progress toward resolving the U.S.-China trade war that has clouded the outlook for oil demand. Brent lost 2.4% to settle at $60.92 a barrel.


Ireland to open 1st renewables auction in early 2020

03/12/2019 09:36:00

The Irish government on Monday gave the green light to the country’s first auction under its new Renewable Electricity Support Scheme (RESS) that is seen to pave the way towards a 70% renewables share by 2030.