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

Q1 2022 Vestas Wind Systems A/S Earnings Call Transcript

May 02, 2022 / 09:00AM GMT

Transcript

Henrik Andersen;S;Group President;CEO

Vestas Wind Systems A

/-&

Good morning, and welcome to this release of Vestas' Q1 for 2022. As everyone, I'm sure, have now appreciated with a different timing caused by, of course, the number of both special item, one-offs and also the changed outlook. Suggest we go through, first of all, the performance the list of items that most significantly relates to the changed environment and also the worsening of the environment directly connected to what has been going on in Russia and Ukraine most recently.

But first, let us go to the key highlight for the quarter. So we had an order intake of 2.9 gigawatts with continued increasing in pricing. That's leading to a wind turbine order backlog strongly of EUR 18.9 billion, as you can follow in our release.

We had revenue in the quarter of EUR 2.5 billion. That means it's a year-on-year revenue growth of 27% despite those supply chain disruptions. We've also had, and that's leading to an evaluation of our business activities, so we went through a strategic

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