Vestas og Micon - Et fusionsprojekt: Vestas and Micon - A mergerproject

Camilla Maegaard Dahl, Morten Paaske & Helena Flinthøj

Studenteropgave: Semesterprojekt


The purpose of this study is to examine the merger between two of the leading companies in the wind energy industry at the time, Vestas and NEG Micon. In 2004 the two companies merged into Vestas wind systems A/S, which at the time had a 35% global market share. The wind energy industry has seen a change in it’s customer base. Where it used to be private citizens it has now changed into private companies wanting bigger and more complex solutions, and thereby brought a bigger demand for capital within the companies. This development helped push forward the merger between Vestas and Micon. Vestas made three goals for the merger. First they wanted to stay at a minimum of 35% global market share, secondly their EBIT-margin would have to exceed 10% and thirdly their net working capital were not to exceed 25% of their revenue. In order for this study to examine how successful Vestas was in achieving their goals, their financial statements from 2004 through 2008 will be applied. We will also include the external elements that influences the success of the merger.

UddannelserErhvervsøkonomi, (Bachelor/kandidatuddannelse) Bachelor el. kandidat
Udgivelsesdato26 jun. 2015
VejledereHans Beck


  • Fusion