Vestas confirmed its preliminary 2022 results with revenues at the lower-end of the guidance and EBIT below it. Order intake in Q4 was strong but that for 2022 was only marginally higher. Service revenues were above expectations but the margin was slightly below. CFO and FCF were negative and the board will not propose a dividend for 2022. The 2023 outlook is below our estimates but management indicated that the target of achieving 10% EBIT margin by 2025 remains realistic.
08 Feb 2023
Looking to restore profitability after a tumultuous 2022; dividend withdrawn
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
Looking to restore profitability after a tumultuous 2022; dividend withdrawn
- Published:
08 Feb 2023 -
Author:
Kulwinder Rajpal -
Pages:
3
Vestas confirmed its preliminary 2022 results with revenues at the lower-end of the guidance and EBIT below it. Order intake in Q4 was strong but that for 2022 was only marginally higher. Service revenues were above expectations but the margin was slightly below. CFO and FCF were negative and the board will not propose a dividend for 2022. The 2023 outlook is below our estimates but management indicated that the target of achieving 10% EBIT margin by 2025 remains realistic.