Narrowing of full-year outlook due to adjustments to planned costs in Service
Vestas Wind Systems A/S, Aarhus, 12 August 2024Company Announcement No. 12/2024 Vestas narrows the financial outlook for 2024 on revenue to EUR 16.5bn-17.5bn (from EUR 16bn-18bn) and EBIT margin before special items to 4-5 percent (from 4-6 percent) based on adjustments to planned costs in the Service segment. Inflation indexation remains a key mechanism to protect profitability in the order backlog. However, adjustments to planned costs impact current profitability in Vestas’ Service segment. As a result of this adjustment, for second quarter 2024, the Group EBIT margin before