Vestas Says Outlook Is Improving This Year as Crisis Eases
- New turbine orders in 2023 amounted to 18.4 gigawatts
- Shares in Vestas jumps the most in three months in Copenhagen
Vestas reported a record 18.4 gigawatts of new turbine orders last year.
Photographer: Angel Garcia/BloombergThis article is for subscribers only.
Vestas Wind Systems A/S expects earnings to improve this year after a return to profitability in 2023 as the Danish company turns the page on an industry-wide crisis that slowed the development of projects.
The world’s biggest turbine maker sees the margin for full-year earnings before interest and taxes in the range of 4% to 6%, it said in a statement on Wednesday. That builds on the momentum that started at the tail end of last year, following a flood of orders from the US to Australia.