In the third quarter of 2022, the business environment with supply chain instability and cost inflation did not wane. Additionally, delays on project deliveries lead to higher costs related to executing on customer commitments.
Consequently, Vestas is adjusting the full-year guidance:
- Revenue is now expected to range between EUR 14.5bn and 15.5bn (previously EUR 14.5bn-16.0bn)
- EBIT margin before special items is adjusted to approx. (5) percent (previously (5)-0 percent)
- Total investments (excl. acquisitions of subsidiaries, joint ventures, associates, and financial investments) are now expected to amount to approx. EUR 850m (previously approx. EUR 1,000m)
Service revenue is now expected to grow min. 20 percent (previously min. 10 percent) due to strong performance and additional repowering activities. The Service EBIT margin before special items is now expected to be approx. 22 percent (previously approx. 23 percent).