Vestas: updates expectations after quarterly results
(CercleFinance.com) - Following quarterly results that were impacted by the coronavirus pandemic, the Danish wind turbine group Vestas has announced updated expectations for FY 2020.
While revenues are still expected to be in the 14-15 billion dollar range, the group expects an EBIT margin excluding non-recurrnent items of 5-7%, compared to 7-9% previously.
For its second quarter, the group reported revenues of 3.541 billion dollars, up 67% year-on-year. Meanwhile, its EBIT margin, excluding non-recurrent items fell from 94 million to 34 million dollars.
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While revenues are still expected to be in the 14-15 billion dollar range, the group expects an EBIT margin excluding non-recurrnent items of 5-7%, compared to 7-9% previously.
For its second quarter, the group reported revenues of 3.541 billion dollars, up 67% year-on-year. Meanwhile, its EBIT margin, excluding non-recurrent items fell from 94 million to 34 million dollars.
Copyright (c) 2020 CercleFinance.com. All rights reserved.