by Olivier Deelen
published on about •
3 read less
published on about •
3 read less
Last Wednesday, wind energy giant Vestas published its financial results for the year 2022. Remarkably, the Danish company suffered a loss for the first time in ten years.
Why is this important?
In 2022, wind and sun were the main sources of electricity generation. Everything indicates that renewable energy will continue to widen the gap with gas and nuclear energy in the coming years. But the largest manufacturer of wind turbines surprisingly takes some serious financial blows.In the news: Vestas suffered a loss of 1.57 billion euros in 2022 for the first time in ten years.
- In 2021, the company made a profit of 134 million euros.
- Last year, turnover amounted to 14.49 billion euros, a decrease of 7 percent.
- If the main wind turbine manufacturer achieves poor margins, this bodes ill for its operators as well.
How did that happen? In particular, a lagging industry and inflation played tricks on the company.
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