The Danish company Vestas Wind Systems, dedicated to the manufacture and sale of wind turbines, registered a net loss of 57 million euros until March, 29% less year-on-year.
The balance of the first quarter of 2020 had been negatively impacted by the execution of narrow margin projects and the increase in costs of logistical challenges and difficulties in the supply chain, amplified by the coronavirus pandemic, which continues to affect the company.
Danish wind, one of the main global wind consortiums, pointed out that the crisis continues to cause problems in the supply of materials, which also affects the delivery of wind turbines.
“Logistical challenges and supply bottlenecks were amplified by COVID-19 restrictions in strategic markets and extraordinary events, and as a result our year-on-year profit margin was reduced,” the company said when presenting the results.
The net operating loss was reduced by 37% to 71 million euros, while the turnover amounted to 1,962 million, which represents a year-on-year drop of 12%.
The power produced was 4,530 megawatts, 8% less, and the installed, 1,925 megawatts, 14% worse.