Vestas – Interim Financial Report, First Quarter 2023
Summary: Quarterly revenue of EUR 2.8bn with an EBIT margin before special items of 1.4 percent. Continued strong wind turbine backlog of EUR 19.7bn driven by higher order intake. Full-year guidance maintained. In the first quarter of 2023, Vestas generated revenue of EUR 2,829m – an increase of 14 percent compared to the year-earlier period. EBIT before special items amounted to EUR 40m, resulting in an EBIT margin before special items of 1.4 percent, compared to negative 13.2 percent in the first quarter of 2022. Free cash flow[1)] amounted to negative EUR 1,081m compared to