Too early to gauge impact of Brexit, says Vestas CEO

Anmar Frangoul | Special to
Vestas launches 400M euro share buyback program

It is too soon to know whether the U.K.'s decision to leave the European Union (EU) will have a long term impact on Danish wind energy company Vestas, its CEO told CNBC on Thursday.

"In or out of (the) EU, the energy is still needed in the local U.K. market, so short term we don't see anything changing there," Anders Runevad said.

In June, 51.9 percent of Britons voted to leave the EU in a move that shocked many.

"Of course longer term it's harder to predict, we are of course dependent on an overall macro economy and an overall energy consumption, and I think that it's too early to have an opinion if the Brexit will have any impact on us," he added.

Runevad's comments come after the company saw second-quarter EBIT (earnings before interest and taxes) reach 399 million euros ($524 million) on revenues of 2.6 billion euros. The business has also raised full-year guidance and announced a share buyback program of 400 million euros.

"I would say that we actually see very good growth in all our regions, so delivery was up 56 percent year-over-year in the quarter, and it comes from all our regions," he said.

"And revenue also increased 46 percent year-over-year and again it comes from a wide range of markets, we took new orders in 24 markets for the first six months."

Wind energy is becoming an increasingly important part of Europe's energy mix. In July, industry group WindEurope said that a total of 3.7 gigawatts (GW) of new capacity has been financed this year, with almost 75 percent of new investments in the U.K.

The size of the wind turbines being installed is also getting bigger, now averaging 4.8 megawatts, a 15 percent increase compared to the same period last year.