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Vestas shares rise after 2016 cash flow adjusted higher
January 6, 2017 / 12:28 PM / 10 months ago

Vestas shares rise after 2016 cash flow adjusted higher

COPENHAGEN (Reuters) - Shares in Vestas Wind Systems (VWS.CO) rose more than 3 percent on Friday after a strong order intake last month prompted the Danish wind turbine maker to adjust 2016 cash flow expectations higher.

A spate of last-minute orders from the United States before New Year put Vestas on track for its highest contract intake in six years and eased some investors’ concerns over U.S. energy policy under the incoming Trump administration.

On Friday, the company said it expects free cash flow for 2016 of between 1.5 billion euros (1.28 billion pounds) and 1.6 billion euros. Vestas had previously guided for above 1 billion euros.

“The improvement is primarily driven by a strong order intake,” the company said in a statement.

Vestas shares rose as much at 3.4 percent following the announcement. At 1213 GMT, the shares were trading 1.8 percent higher at 474.10 Danish crowns each.

Reporting by Jacob Gronholt-Pedersen; Editing by Susan Fenton

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