Vestas Q2 loss bigger than expected, maintains guidance

Vestas Q2 loss bigger than expected, maintains guidance

COPENHAGEN (Reuters) – Danish wind turbine maker Vestas on Wednesday warned of continued supply chain disruptions in 2023 after reporting a bigger than expected second-quarter adjusted operating loss.

“Permitting and regulatory uncertainty remain a key challenge to speed up the energy transition, and although supply chain disruptions are easing off, we expect disruptions to continue throughout the second half of the year,” CEO Henrik Andersen said in a statement.

The company maintained its full-year guidance.

“Vestas continued to improve underlying performance in the second quarter of 2023, and based on the first half of the year, we remain on track to achieve our financial outlook for 2023,” Andersen said.

The loss before interest, tax and items affecting comparability stood at 70 million euros ($77 million) against a year-earlier 182 million loss and an average analyst forecast of a 62 million euro loss in a poll shared by the company.

($1 = 0.9112 euros)

(Reporting by Nikolaj Skydsgaard, editing by Terje Solsvik)