Published: 07 April 2020 07 April 2020
Since the outbreak of COVID-19, Vestas has taken measures to ensure the safety of its employees and reasonably mitigate the impact of the coronavirus pandemic on its operations. The spread of the virus globally and the national measures implemented to contain it have eventually, however, caused disruptions to Vestas’ manufacturing, supply chain, and installations.
At this moment, Vestas’ factories in China have returned to normal operation and Vestas is working to mitigate the impact of lost production time through the company's global footprint, including using the capacity in China to mitigate challenges in other parts of the world, where restrictions and disruptions are now seen to an increasing degree.
Preliminary numbers indicate that the results for first quarter are in line with expectations. Furthermore, the total order intake for the quarter amounts to 3.3 GW. From the limited impact on this quarter seen in isolation, achieving the outlook for 2020 is still realistic. However, there is no longer adequate visibility for the rest of the year, and hence Vestas is at the moment not able to confidently give guidance on Vestas’ full-year performance.
Due to this uncertainty, especially in regard to the duration of the pandemic and the full extent of the consequences thereof globally, Vestas now suspends its full-year guidance.