STOHF - Vestas Wind Systems: Strong Q3 But General Electric Emerges As Potent Competitor

• If the one-time extraordinary warranty provision and pandemic costs are excluded, the company's Q2 report was very strong.
• The service business - which like SaaS based models can be viewed as high-margin recurring revenue - was strong and a positive catalyst moving forward.
• Meantime, GE is becoming a competitor for both on- and offshore wind projects, with a couple of recent high-profile and large contract wins.
• That said, it would appear global demand for wind turbines is big enough for multiple suppliers to thrive.

For further details see: