Ole Søeberg of Nordic Investment Partners presented his investment thesis on Vestas Wind Systems (Denmark: VWS) at European Investing Summit 2024.

Thesis summary:

Vestas is the world leader in wind power turbines. The company focuses on the European and North American markets.

Due to an order book that did not appropriately incorporate higher cost assumptions for steel and transportation, profitability plummeted as Vestas had to shoulder the cost increases. New orders and contracts come with better profitability, and earnings are likely to increase strongly in the coming years.

Ole views Vestas as a long-term winner, as low-carbon sources increasingly replace traditional fossil fuels in power generation.

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About the instructor:

Ole Soeberg is the founder of Nordic Investment Partners, a family office for three families. Ole has nearly four decades of investment experience in asset management, investor relations, and investment banking.