Vestas cuts a rough half-billion euros off earnings guidance
Supply chain strains, cost inflation, Covid-related restrictions across several markets as well as higher expenses for getting offshore wind back into the fold prompt the Danish wind turbine manufacturer to downgrade both its top- and bottom-line outlook for 2021.
As the latest of several wind OEMs booking guidance downgrades, Vestas no longer expects to achieve its previously stated financial objectives for the year. After Siemens Gamesa cut its prognosis last week due to issues within the onshore division, the Danish manufacturer now follows suit presenting its Q2 interim report – albeit from both a higher starting point as well as updated target for the year.
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