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    Vestas loses 884 million in first half due to global supply chain problems


    August 10, 2022 - CE Noticias Financieras

     

      The Danish company Vestas Wind Systems, which specializes in the manufacture and sale of wind turbines, reported a net loss of 884 million euros in the first half of the year.

      The result is mainly explained by problems in the global supply chain, although this has been added to inflation, losses due to asset impairment and costs arising from the withdrawal of Vestas from the Russian market due to the conflict in Ukraine, which has led to a loss of 367 million.

      Thus, the Danish group, which earned 19 million euros net in the same period of the previous year, has presented a negative net operating profit (ebit) of 1,041 million euros. Its turnover amounted to 5.79 billion euros, up 5%. Revenues amounted to 3,305 million euros, down 7% year-on-year.

      Power produced was 7,272 megawatts, down 25%, and installed capacity fell by 6% to 5,376 megawatts.

      "The first half of the year was marked by geopolitical uncertainty and supply chain problems that have driven up costs and caused an energy crisis," said Vestas CEO Henrik Andersen, who called for greater political support for renewables.

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