illuminem summarizes for you the essential news of the day. Read the full piece on the Financial Times or enjoy below:

🗞️ Driving the news: Vestas, the Danish wind turbine manufacturer, has signaled a positive shift in its financial performance with a return to profit in the third quarter after nearly two years of losses
• The company's shares surged by 9% following the announcement, reflecting investor optimism

🔭 The context: Vestas has been proactive in adjusting its pricing strategy, leading to an 11% increase in third-quarter revenues year on year
• The company's efforts to raise prices for new turbines after 2021 are now yielding results, with stable sales volumes and improved margins due to better pricing power and reduced supply chain issues

🌍 Why it matters for the planet: As a major player in the renewable energy sector, Vestas's recovery is a positive indicator for the industry's health
• With a focus on land-based turbines, Vestas has managed to navigate through the challenges of cost inflation and supply chain disruptions, setting a hopeful tone for the future of sustainable energy infrastructure

⏭️ What's next: The company anticipates further improvements, with an average selling price increase of 5% over the previous quarter and declining costs for steel and logistics
• While one profitable quarter doesn't guarantee long-term success, there are signs that the renewable energy market is adapting to ensure the viability of projects, which could lead to a more robust recovery for the industry

💬 One quote: "One breezy quarter does not a summer make. Yet Vestas’s results should give the industry hope." (Roula Khalaf, editor at the Financial Times)

📈 One stat: Vestas's gross margin doubled to 8.1% in the third quarter, a significant improvement that reflects the company's enhanced pricing power and operational efficiencies amidst a challenging economic environment

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