Vestas Wind Systems AS (OCSE:VWS)

kr 96.8 -7.73 (-7.4%) Market Cap: 97.68 Bil Enterprise Value: 105.24 Bil PE Ratio: 281.81 PB Ratio: 4.87 GF Score: 73/100

Q2 2021 Vestas Wind Systems A/S Earnings Call Transcript

Aug 11, 2021 / 08:00AM GMT

Transcript

Henrik Andersen;S;Group President;CEO

Vestas Wind Systems A

/-&

Good morning, and welcome to our release and presentation of our Vestas Q2 results for 2021. Warm welcome to everyone, and let's go to the key highlights of the quarter immediately.

So first of all, we had a strong order intake, and we also released a first preferred supplier agreement on our 15-megawatt offshore platform. That ended in a total order intake of 5.3 gigawatts with both onshore and offshore contributing to that number. Revenue was EUR 3.5 billion, impacted by lower offshore activity and also, to some extent, the continued supply chain constraints, which we have seen in Q2. EBIT margin of 2.9%, profitability impacted by the higher fixed cost base from the offshore business and therefore, also the integration and also cost inflation into it. We had a solid performance, again, from service, revenue growth of 23% compared to Q2 2020 and an EBIT margin of 28.6%. And on the ESG side, we had another important step towards the zero waste turbine, where we also entered a CTEC

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