The supply chain instability and cost inflation caused by the pandemic is continuing to impact the wind power industry.
Based on these circumstances, and the impact these are expected to have for the remainder of the year, Vestas is updating its full-year guidance on EBIT margin before special items, which is now expected to be around 4 percent (previously 5-7 percent). Vestas still expects revenue of EUR 15.5-16.5bn, including Service, and total investments) below EUR 1,000m in 2021.
The revenue forecasts were already slightly lowered earlier.
The company now expects full-year revenue of 15.5 billion euros ($18.2 billion) to 16.5 billion euros ($19.3 billion), down from previous forecast of 16 billion euros to 17 billion euros, it said in an earnings statement Wednesday.
I still need to read through that more carefully later.
Here’s a link to the report: