Vestas Shares Jump 20%, UK Blocks Ming Yang Factory

**SPEAKER_1** (0:02)
The Uptime Wind Energy Podcast, brought to you by StrikeTape, protecting thousands of wind turbines from lightning damage worldwide. Visit striketape.com.
And now, your hosts.

**Allen Hall** (0:17)
Welcome to The Uptime Wind Energy Podcast. I'm your host, Allen Hall, and I'm here with Rosemary Barnes, Matthew Stead, and Yolanda Padron. And three out of the four of us will be in Melbourne, Australia, talking to a number of operators and interested parties about Woma 2027 Matthew, where will we be the couple of days we're in Melbourne?

**Matthew Stead** (0:40)
First of all, we've got the Pullman East Melbourne, which is where the venue will be for 2027 So that will be our home base. We've got around about eight meetings planned already. So what we're doing is we're talking to the operators and a few other industry players about what we need to talk about. How are we going to move the industry forward in Australia?
So it's going to be jam-packed, but there's a little bit of time left on the Friday afternoon. If there's any late minute people that want to get in contact and catch up with us for next Thursday, Friday, or actually Friday. So yeah, it's going to be a jam-packed time. I think we're going to be tired, too many coffees, and talking to all the key operators about what they want to hear about, and how we can move the industry forward.

**Allen Hall** (1:32)
If someone wants to put an input into the Woma panel about what will be discussed at Woma 2027, Matthew, how would they do that? How do they get a hold of you?

**Matthew Stead** (1:41)
Well, we have a wonderful website, and that's got all the details you could ever want.
You can also register on the website. So please register. Otherwise, I'm sure we're going to be a sellout this year for sure. So woma2027.com.

**Rosemary Barnes** (1:57)
I just want to add that when people talk to me about the event, they always say how they love that the topics are so relevant. And the reason why that they're so relevant is because we make sure to go around to operators and find out what are the issues that they're really dealing with. So anybody that's thinking of attending, even if you can't meet us up with us in Melbourne, get in touch and tell us what are the topics that you're struggling with, that you're having trouble finding enough information, having trouble finding the people that can help you.
And we take all of that information and that's how we come up with our agenda each year. And for us, the main thing is that this has to be really relevant, up-to-date information for the industry and we need your help to make sure it stays that way.

**Matthew Stead** (2:45)
I mean, that's what we've done in the last two years. So we're just repeating the formula. We're listening to the operator and getting the good topics and the good speakers.

**Allen Hall** (2:53)
Well, Vestas has had a good quarter for the last couple of years, honestly. Vestas has been really thin on margins. There was questions about it continuing on, rising costs mostly, supply change, especially during COVID were bad.
But for the most part, the shareholders stayed attached. Well, that story is changing rapidly. The world's largest turbine maker posted second quarter operating profits of 446 million euros, more than double what the analysts had expected. And it's raised its full year margin guidance alongside half year results for the first time in a decade. The shares climbed about 20 percent in Copenhagen, adding roughly 4.7 billion euros of market value in a single session.
Now, the chief executive, Henrik Andersen, has put it plainly to in a couple of news sources that something much bigger is happening and Vestas is going to be the leader in wind. That's how I read it, that everybody at Vestas was super happy with the change in direction and things were moving up steadily. But a 20 percent jump in a day is remarkable. We don't see that in large industrial businesses like wind energy.
Matthew, this has real implications on what happens next for Vestas because success like this usually means more orders.

**Matthew Stead** (4:25)
Yeah, I wonder what's going on under the hood there.
I mean, Vestas is a quality company, although can I just do a quick segue? How many turbines were installed in Denmark in the last two years, like last year and the year before?

**Yolanda Padron** (4:40)
I don't know, how many?

**Matthew Stead** (4:41)
I believe it was eight turbines installed onshore in Denmark last year and the year before it was 12 So maybe Vestas needs to focus on their own backyard a little bit as well.