Vestas' operating margin nearly halved in 2020
The wind turbine manufacturer went forward both on its top and bottom lines last year, but the profit ratio lagged behind and is expected to do the same this year. CapEx for 2021, though, is projected at a billion euros.
Shortly before releasing its annual financial statement, Vestas pushed the button on a planned detonation with the announcement of its incoming 15-MW offshore wind model. Deeming solely from last year's result, there was little reason to throw down such a preemptive smoke bomb, as a profit of EUR 934 million exceeded expectations.
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