Fazit: Quartalsumsatz von 3.305 Mio. Euro bei einer EBIT-Marge vor Sondereffekten von (5,5) Prozent.

(WK-intern) – Auftragseingang für Windturbinen von 2,2 GW mit einem weiterhin starken Auftragsbestand von 18,9 Mrd. EUR zu höheren Preisen.

Jahresprognose beibehalten.

Im zweiten Quartal 2022 erwirtschaftete Vestas einen Umsatz von 3.305 Mio. Euro – ein Rückgang um 7 Prozent im Vergleich zum Vorjahreszeitraum. Das EBIT vor Sondereinflüssen belief sich auf -182 Mio. EUR, was einer EBIT-Marge vor Sondereinflüssen von -5,5 Prozent entspricht, verglichen mit 2,7 Prozent im zweiten Quartal 2021.

Der Free Cashflow* belief sich auf -362 Mio. EUR im Vergleich zu 183 Mio. EUR im zweiten Quartal 2021.

Der vierteljährliche Eingang fester und unbedingter Bestellungen für Windkraftanlagen belief sich auf 2.153 MW, und der Wert des Auftragsbestands für Windkraftanlagen belief sich zum 30. Juni 2022 auf 18,9 Mrd. EUR. Zusätzlich zum Auftragsbestand für Windkraftanlagen zum Ende des Quartals Vestas hatte Serviceverträge mit erwarteten vertraglichen zukünftigen Einnahmen von 31,3 Mrd. EUR. Damit belief sich der Wert des kombinierten Auftragsbestands aus Windenergieanlagen und Serviceverträgen auf 50,2 Mrd. EUR – ein Anstieg um 2,1 Mrd. EUR im Vergleich zum Vorjahreszeitraum.

Vestas – Interim Financial Report, Second Quarter 2022

Summary: Quarterly revenue of EUR 3,305m with an EBIT margin before special items of (5.5) percent. Wind turbine order intake of 2.2 GW with a continued strong backlog of EUR 18.9bn at higher pricing. Full-year guidance maintained.

In the second quarter of 2022, Vestas generated revenue of EUR 3,305m – a decrease of 7 percent compared to the year-earlier period. EBIT before special items amounted to EUR (182)m, resulting in an EBIT margin before special items of (5.5) percent, compared to 2.7 percent in the second quarter of 2021.

Free cash flow* amounted to EUR (362)m compared to EUR 183m in the second quarter of 2021.

The quarterly intake of firm and unconditional wind turbine orders amounted to 2,153 MW, and the value of the wind turbine order backlog was EUR 18.9bn as at 30 June 2022. In addition to the wind turbine order backlog, at the end of the quarter, Vestas had service agreements with expected contractual future revenue of EUR 31.3bn. Thus, the value of the combined backlog of wind turbine orders and service agreements stood at EUR 50.2bn – an increase of EUR 2.1bn compared to the year-earlier period.

Group President & CEO Henrik Andersen said: “The first half of 2022 was characterised by geo-political uncertainty and supply chain disruptions that have caused costs to increase and an energy crisis to unfold. This development underlines the urgent need for a sustainable energy transition and drives stronger policy support for renewables across the globe but also creates a highly challenging business environment that negatively impacts Vestas’ financial results. In this environment, we achieved a revenue of EUR 3.3bn in the second quarter of 2022, and in accordance with our guidance for the full year, profitability remained challenged with an EBIT margin of (5.5) percent. In the quarter, our Service revenue grew 12.5 percent year-on-year, but was negatively impacted by one-offs related to a few projects in specific geographical areas. We reinforced our onshore leadership with an order intake of 2.2 GW and an average selling price on onshore wind turbines of EUR 0.96m/MW, a 22 percent increase year-on-year. The sustained price increases show we maintain the discipline to protect value creation and pave the way towards our profitability target. We continue to execute on our strategy to ensure Vestas continues to lead the energy transition and is ready to profitably grasp future growth. Everyone at Vestas is doing a great job in very tough circumstances, and we remain thankful for the ongoing support from our customers and partners.”

Key highlights

Sustained price increases continue to pave the way towards profitability target
Maintaining the discipline to protect value creation.

Order intake of 2.2 GW
Wind turbine order backlog remains high at EUR 18.9bn.

Revenue of EUR 3.3bn
Revenue decreased by 7 percent year-on-year caused by delay of offshore project.

Profitability negative in accordance with outlook revised on 1 May
EBIT margin of (5.5) percent driven by supply chain disruptions and cost inflation.

Positive policy development in the USA and Europe
Despite evidence of an energy crisis, still a lack of permitting progress.

*) Excl. acquisitions of subsidiaries, joint ventures, associates, and financial investments.

PM: Vestas