Service costs drive Vestas to Q2 loss
- Admin
- Aug 14, 2024
- 1 min read
Vestas reported a decrease in revenues leading to an EBIT loss before special items of €185m in Q2 2024. The company saw negative EBIT margin before special items of 5.6% due to adjustments to planned costs affecting current profitability in the Service segment. Despite a decrease in revenue, Vestas achieved a quarterly intake of firm and unconditional wind turbine orders, leading to a significant increase in the order backlog. Group President & CEO Henrik Andersen highlighted the progress within Power Solutions, emphasizing the positive trajectory and strong commercial discipline.
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