(RTTNews) – Vestas Wind Systems A/S (VWDRY.PK) reported on Wednesday that third-quarter profit amounted to 28 million euros, compared with last year’s loss of 147 million euros.
Operating profit or EBIT amounted to 69 million euros, compared to a loss of 114 million euros last year. Adjusted EBIT amounted to 70 million euros, compared to negative 127 million a year ago. The adjusted EBIT margin was 1.6 percent, compared to negative 3.2 percent in 2022.
Vestas generated a turnover of 4.35 billion euros, an increase of 11.2 percent compared to last year’s 3.91 billion euros. Revenues were driven by the higher value of turbine deliveries, stable volumes and double-digit growth in Service.
Order intake amounted to 4.5 GW, an increase of 138 percent compared to the third quarter of 2022. The combined order book amounted to 54.0 billion euros.
Looking ahead to fiscal year 2023, the company has tightened its expectations. The company now expects sales to be between 14.5 billion euros and 15.5 billion euros, compared to the previously expected 14.0 billion euros to 15.5 billion euros.
Services revenue is still expected to grow by about 10 percent.
The outlook for EBIT margin before exceptional items has been narrowed to 0-2 percent, compared to the previously expected negative 2 percent to positive 3 percent.
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