Vestas wind loses 1,572 million in 2022

The Danish wind turbine manufacturer Vestas recorded losses of 1,572 million euros in 2022, in contrast to the attributable net profit of 134 million the previous year, according to the company.

Vestas’ accounts reflect an extraordinary adverse impact of 444 million euros related to the alignment of the manufacturing footprint and the departure from Russia, the multinational explained.

The Danish manufacturer’s revenue between January and December reached 14,486 million euros, 7% less than a year earlier, while the gross operating result (Ebitda) showed negative data of 437 million, compared to profits of 1,271 million from the previous year.

Between October and December, the Danish company posted losses of 541 million euros, compared to the attributable net profit of 8 million in the fourth quarter of 2021, while revenues grew by 5%, to 4,783 million.

Looking ahead to the current financial year, Vestas anticipates income of between 14,000 and 15,500 million euros and plans to make investments of approximately 1,000 million euros.

“In 2023, we expect high levels of inflation throughout the supply chain, while the reduction of wind energy installations will negatively affect revenues and profitability,” the company warned, referring to the slow process of obtaining permits. in Europe, as well as declining activity levels in the United States.

In this sense, he indicated that the increase in prices in order intake is a compensating factor, although the company still considers that its profitability in 2023 will be challenged.