Vestas Wind Systems A/S (OCSE:VWS)
kr 191.75 -1.55 (-0.8%) Market Cap: 193.51 Bil Enterprise Value: 201.58 Bil PE Ratio: 0 PB Ratio: 8.49 GF Score: 80/100

Q2 2022 Vestas Wind Systems A/S Earnings Call Transcript

Aug 10, 2022 / 08:00AM GMT
Release Date Price: kr198 (+8.79%)
Henrik Andersen;S;Group President;CEO
Vestas Wind Systems A

/-&

Good morning, everyone, and welcome to this presentation of Vestas' Q2 and First Half of 2022. And with that, let's go to the key highlights for the quarter first.

So our key highlights for Q2 was we sustained the price increases, which also continued to pave the way forward for our profitability target. This is all about maintaining the required discipline to protect value creation and also get Vestas back in positive EBIT again. Order intake of 2.2 gigawatts, the wind turbine order backlog remains high at EUR 18.9 billion. We got a revenue in the quarter of EUR 3.3 billion. That's a revenue decrease by 7% year-on-year, caused mainly by a delay on one specific offshore project. Profitability negative in accordance with the outlook revised on 1st of May after Q1. EBIT margin of 5.5% negative driven by the supply chain disruptions and also the cost inflation.

Finally, I think over the last few days, we can say positive policy development in the U.S. and Europe. And I think

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