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The wind turbine manufacturer Vestas, the rival of Siemens-Gamesa, has advanced this Wednesday that its income for last year would have been in the lower part of its forecast range, and also warns that higher energy and raw material costs may further affect your business this year.

The Billing of the Danish company would have been located in the last exercise in €15.6 billion ($17.61 billion), in line with the November forecast of between 15,500 and 16,500 million euros. “The global business environment for wind power remains volatile in the short term and prosperous in the long term,” it said in a statement.

In its press release, the firm also warns that they expect “the near future and at least 2022 to be strongly affected by the cost inflation, while the emergence of a energy crisis caused by geopolitics and the volatility of fossil fuels It has also resulted in drastic increases in energy prices.

In renewables, they emphasize that their figures show delays in the installation of some projects on land, as well as higher cost inflation. These factors also continued to affect warranty provisions in the fourth quarter of 2021, causing higher repair and upgrade costs for existing cases. Consequently, it explains that the level of guarantee provision for the entire year 2021 ended at 4.4% of revenues.

Vestas recorded last year a 13.9 GW order intake both onshore and offshore. The average sales price increased to €0.83 million per MW for 2021 (onshore only it was €0.81 million per MW) and reached €0.86 million per MW throughout the fourth quarter.

“It is expected that the supply chain instability caused by the pandemic and leading to rising transportation and logistics costs will continue to affect the wind energy industry throughout 2022. In addition, Vestas will experience a greater impact from cost inflation in raw materials, wind turbine components. and energy prices. Based on these circumstances, Vestas presents its outlook,” the statement said.

A) Yes, forecasts full-year 2022 revenue to be between €15bn and €16.5bn and achieve an EBIT margin before special items of between zero and 4%. The total investments of the wind company are expected to amount to approximately 1,000 million euros. “It should be noted that there is greater uncertainty than usual around the forecasts related to the execution in 2022, and the outlook seeks to take into account the current situation and challenges,” he concludes.

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