Investor Presentaiton
INCOME STATEMENT
Challenged profitability as expected in revised outlook
Highlights
•
•
•
Revenue decreased 7 percent YoY driven by lower
offshore installations from delayed project
Gross margin decreased by 7.7 percentage points
YoY, driven primarily by external cost inflation and
supply chain disruption
EBIT margin before special items decreased by 8.2
percentage points YoY, mainly driven by the lower
gross profit and lower revenue
Special items is driven by positive reversals partly
offset by further impairments in Asia
MEUR
Revenue
Production costs
Gross profit
SG&A costs*
Q2 2022
Q2 2021**
3,305
(3,208)
3,536
% change
(6.5%)
(3,161)
97
375
1.5%
(74.1)%
(279)
(281)
0.7%
(182)
94
(294)%
35
0
(147)
94
(256)%
Income from investments in joint
14
ventures and associates
(119)
Net profit
Vestas
83
33
33
(57.6)%
83
(413)%
EBIT before special items
Special items
EBIT after special items
Gross margin
EBITDA margin before special
items
EBIT margin before special items
2.9%
10.6%
(7.7)%-pts
1.2%
8.9%
(7.7)%-pts
(5.5)%
2.7%
(8.2)%-pts
10 Q2 2022
*R&D, administration, and distribution, including depreciations and amortisations.
**
Comparative figures for 2021 are adjusted in relation to accounting policy change for configuration
and customisation cost in cloud computing arrangements, refer to note 5.3.
Classification: Public
Vestas®View entire presentation