Vestas Needs More Time to Clear Wind Turbine Backlog, CEO Says
- Danish firm will ‘eat through’ backlog that stems to pandemic
- CEO says it’ll take a few quarters to catch up on orders
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Vestas Wind Systems A/S sees some relief ahead from the backlog of wind turbine orders that have caused earnings headwinds for one of the industry’s biggest manufacturers.
“We will eat through that backlog that mainly stems from ’20 and ’21,” Chief Executive Officer Henrik Andersen said Thursday during a Bloomberg TV interview, adding that it’ll still take “some quarters” to get through.