Q2 revenue 3.296 bln eur, down 3.9% (Il Sole 24 Ore Radiocor) - Copenhagen , 14 Aug - The Danish wind turbine manufacturer Vestas said its net loss widened to 156 million euros in the second quarter of 2024 from a 115 million loss the year earlier.

The adjusted EBITDA loss grew to 185 million euros from 70 million, making for a negative adjuted EBITDA margin of 5.6%, as adjustments to planned costs impact current profitability in the company's service segment.

Revenue in the quarter decreased by 3.9% compared to the year earlier to 3.296 billion euros.

The quarterly intake of firm and unconditional wind turbine orders amounted to 3,596 MW, a 54% increase from the second quarter of 2023. The value of the wind turbine order backlog was 28.1 billion euros as of June 30, 2024.

In addition to the wind turbine order backlog, at the end of the quarter, Vestas had service agreements with expected contractual future revenue of 34.9 billion euros. The value of the combined backlog of wind turbine orders and service agreements stood at 63.0 billion euros, an 11.4 billion increase on the year earlier.

AAA-Hob

(RADIOCOR) 14-08-24 14:00:17 (0325) 5 NNNN