COPENHAGEN (dpa-AFX) - Vestas Wind Systems A/S (VWDRY.PK), a Danish maker of wind turbines, reported Wednesday a profit in its second quarter, compared to prior year's loss, with higher revenues and deliveries. Meanwhile, orders declined in the quarter. Further, the company maintained fiscal 2025 outlook.
For the full year, the company continues to expect adjusted EBIT margin of 4 percent to 7 percent, and revenue to range between 18 billion euros and 20 billion euros.
In the second quarter, profit attributable to Shareholders was 32 million euros or 0.03 euro per share, compared to prior year's loss of 158 million euros or 0.16 euro per share.
Adjusted EBIT amounted to 57 million euros, compared to loss of 185 million euros a year ago. Adjusted EBIT margin was 1.5 percent, compared to negative 5.6 percent last year.
Adjusted EBITDA surged to 315 million euros from prior year's 40 million euros. Adjusted EBITDA margin improved to 8.4 percent from 1.2 percent last year.
In the second quarter, Vestas generated revenue of 3.75 billion euros, up 13.6 percent from 3.30 billion euros in the prior year.
Deliveries grew to 2,808 MW from 2,417 MW last year.
Order intake, meanwhile, fell to 2.2 billion euros from 4.4 billion euros a year ago. The quarterly intake of firm and unconditional wind turbine orders amounted to 2,009 MW, a 44 percent decrease from 3,596 MW last year.
The value of the combined backlog of wind turbine orders and service agreements stood at 67.3 billion euros, an increase of 4.3 billion euros compared to the year-earlier period.
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