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

Q4 2022 Vestas Wind Systems A/S Earnings Call Transcript

Feb 08, 2023 / 09:00AM GMT

Transcript

Henrik Andersen;S;Group President;CEO

Vestas Wind Systems A

/-&

Good morning again to everyone following our announcements on the 27th of January '23. Let me also just start up front to say thank you for your support. First of all, to our shareholders, to our partners and not least to our colleagues, it is a result for '22 that is not satisfying, but we are getting there. And I hope we are also able to give you quite a lot more details in the following presentation.

So with that highlight of '22, we had a revenue of EUR 14.5 billion revenue declined compared with '21 driven by Russia and Ukraine exit as well as certain project delays. We ended with an EBIT margin of negative 8%. EBIT was hampered by some of the discussed supply chain disruptions, high inflation, energy crisis, some higher warranty provisions and also the offshore impairments. The total order intake was 11.2 gigawatts with an ASP of EUR 1.07 million per megawatt. The wind turbine order intake in gigawatt was down 9% (sic) [19%] but increased 3% in value due to the strong price

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