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.

Photo: MHI Vestas Offshore Wind

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.

"In the service business, we took an impairment of EUR 14 million on deposits as part of our constant asset evaluation," says Vestas CFO Marika Fredriksson to Ritzau Finans. However, she does not call it an extraordinary event. She refers to it as "regular evaluation of the business".

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