Wind energy company Vestas lowers 2024 financial outlook, reducing revenue expectations and EBIT margin due to increased Service segment costs.

Wind energy giant Vestas reduces 2024 financial outlook, lowers revenue expectations to €16.5-€17.5bn from €16-€18bn, and adjusts EBIT margin before special items to 4-5% from 4-6%. The changes reflect increased planned costs in the Service segment due to inflation, repairs, and operational inefficiencies, partially offset by efficiency improvements and cost savings. Despite the adjustments, Vestas maintains profitability in its Service business and unaffected order backlog.

August 12, 2024
3 Articles

Further Reading