After SGRE, Vestas has also cut its guidance for 2022. Order growth was decent but we remain sceptical that it will surpass last year’s level. While revenue growth was above expectations, write-downs from the Russia-Ukraine conflict, legacy costs and impairment charges severely impacted profitability. Even excluding the former, it would appear that Vestas had underestimated the impact of current cost pressures on its margins. Consequently, Vestas cut its guidance for 2022 for both revenues and p ....
02 May 2022
War impact and ongoing cost pressures shatter 2022 hopes
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War impact and ongoing cost pressures shatter 2022 hopes
- Published:
02 May 2022 -
Author:
Kulwinder Rajpal -
Pages:
3
After SGRE, Vestas has also cut its guidance for 2022. Order growth was decent but we remain sceptical that it will surpass last year’s level. While revenue growth was above expectations, write-downs from the Russia-Ukraine conflict, legacy costs and impairment charges severely impacted profitability. Even excluding the former, it would appear that Vestas had underestimated the impact of current cost pressures on its margins. Consequently, Vestas cut its guidance for 2022 for both revenues and p ....