Vestas CEO Henrik Andersen warned trade wars and tariffs continue to hinder the wind power industry, as the OEM revealed its profit margin shrank despite a record-high order intake and increased revenue for 2019. The firm's Ebit margin before special items was 8.3% for 2019, down 1.2 percentage points from the previous year, with the company blaming a lower gross profit margin and higher capacity costs. This came despite 17,877MW of onshore turbine orders — a 25% rise year on year and its highest ever intake — boosting revenue to €12.1 billion and operating profit to €1 billion.
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