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UTILITIES: Vestas Wind (VWSDC Baa2/NR/NR): Profit Warning

UTILITIES

Due to report 2Q24 results on Wednesday. Marginal negative at this stage.

  • 2Q24 Preliminary revenue 12% below consensus.
  • EBIT margin at -5.6% (2.4% expected) with higher costs in the Services division due to inflation and operating issues.
  • Adj. FCF unaffected at €0.5bn.
  • FY24 revenue guidance range narrowed to €16.5-17.5bn from €16-18bn and EBIT margin narrowed to the downside to 4-5% from 4-6% previously (consensus at 5%).
  • Call 14.30 BST https://services3.choruscall.ch/DiamondPassRegistration/register?confirmationNumber=6739165&linkSecurityString=b4e24eff1

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