Vestas 'on track to become profitable in 2023' as orders and prices rise - Recharge
Vestas 'on track to become profitable in 2023' as orders and prices rise | Recharge
Vestas returned to a net profit during the third quarter of 2023 and is ‘on track to become profitable’ also during the full year on the back of rising sales prices for its wind turbines while soaring orders should help generate future earnings.
The Danish company is the first Western OEM to return to a quarterly net profit again this year, in which supply chain difficulties, cost inflation and quality issues have dragged down results at turbine manufacturers.
Related Knowledge Center: Climate economics
Climate change is now a driver of the world’s economy. The impact is profound:
- Catastrophic weather events — hurricanes, floods, droughts, high temperatures — are more frequent and more extreme. The cost can be measured in both the initial damage caused and the longer-term impact on the economy.
- Vulnerable communities are increasing climate-related investments, hardening infrastructure and taking other protective measures.
- Investment in carbon capture and storage technologies is increasingly rapidly.
- Governments are making investments and crafting regulations to reduce emissions of carbon dioxide and other greenhouse gases.
On top of all of this is the cost of uncertainty. As the Fourth National Climate Assessment, released in 2018 by the U.S. Global Change Research Program, says, “The assumption that current and future climate conditions will resemble the recent past is no longer valid.”