Vestas, a Danish wind turbine manufacturer, has reported that it posted net losses of €99 million in the first half of the year, which is a considerable reduction compared to the €884 million it lost in the same period last year. .
Despite these losses, Vestas has experienced an 8% increase in its turnover in the first six months of the year, reaching 6,258 million euros. In the second quarter, the company registered net losses of 115 million euros, four million less than in the same period of the previous year, while turnover increased by 3.8%.
Vestas Chairman and CEO Henrik Andersen explained that this increase in turnover is due to a higher number of turbine deliveries and growth in the company’s service sector. However, he has also noted that regulatory and permitting uncertainty has been a key challenge in the first half of the year, with supply chain disruptions expected to continue through 2023.
Despite this, Vestas has highlighted the 8% increase in order delivery in the second quarter compared to the same period of the previous year, reaching 2,333 Megawatts. In addition, the company has raised its revenue forecasts for the rest of the year, expecting to reach between 14,000 and 15,500 million euros. It has also increased its growth forecast in the services area, from 5% to 10%.
In summary, Vestas has managed to reduce its losses in the first half of the year and has experienced an increase in its turnover, thanks to an increase in order delivery and growth in the service sector. However, regulatory uncertainty and supply chain disruptions remain significant challenges for the company.