Vestas: in demand after share buyback program

(CercleFinance.com) - The Vestas share is soaring 8.
5% in early trading in Copenhagen today, after the wind power supplier announced a share buyback program worth 1.5 billion Danish kronor (around 200 million euros) to be completed by the end of the year.

This program has been unveiled alongside the publication of a Q2 2018 operating margin that is down 1.1 point at 11.5%, for sales that are up 2% at 2.26 billion euros.

For FY 2018, Vestas has tightened its target ranges, now expecting an operating margin of between 9.5% and 10.5% (instead of 9%-11%), with sales of between 10 billion and 10.5 billion euros (vs. 10 billion to 11 billion euros previously).


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