COPENHAGEN (Reuters) – Vestas, the world’s largest maker of wind turbines, on Wednesday reported lower-than-expected third-quarter operating profit and lowered its forecast for operating profit margin for the full-year.
Operating profit before special items fell 21% to 325 million euros ($376 million), lagging the 381 million euros forecast by 16 analysts in a poll compiled by the company.
The company lowered expectations to its operating profit margin to 4% from previously 5-7% – a far cry from its long-term target of a 10% margin. ($1 = 0.8633 euros)
(Reporting by Jacob Gronholt-Pedersen)
