Great quarter for service despite impairment at Vestas
In the CFO's own words, the service business saw "high-level EBIT" in the first quarter. This is in spite of a EUR 14 million impairment.
BY RITZAU FINANS
The service business at Vestas delivered much stronger results in the first quarter than analysts had projected, despite the fact that the wind turbine manufacturer took an impairment in its Q1 report of EUR 14 million in precisely this division.
The multinational commodity trader navigated through a turbulent market in fiscal 2022, which ended in September, but nonetheless closed the year with a record result. Challenging conditions will carry on into 2023.
Serious dissatisfaction is emanating from European capitals regarding the Energy Charter Treaty for protecting fossil energy investments, thus prompting the EU Commission to assess its options for a collective exit.