Vestas, the world’s number one wind turbine maker, said on Wednesday that writedowns pushed it into a wider loss in the second quarter.
The Danish company said depreciations of 225 million euros ($250 million)from “impairments on a technology project” led to a loss of 156 million in the April-to-June quarter, compared with a loss of 115 million euros in the same period last year.
Revenue fell four percent to 3.3 billion euros.
The company said orders rose 34 percent from a year ago, with its turbine order book standing at 28.1 billion euros, thanks to recent major contracts in Poland, Germany and the United States.
Vestas shares were down around one percent in early trading on the Copenhagen stock market.
© 2024 AFP
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Turbine maker Vestas says losses widened on writedowns (2024, August 14)
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Turbine maker Vestas says losses widened on writedowns (2024, August 14)
retrieved 14 August 2024
from https://techxplore.com/news/2024-08-turbine-maker-vestas-losses-widened.html
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