Vestas Wind Systems AS

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Vestas Earnings: Offshore Wind Ramp-Up Weighs on Profitability; Guidance Confirmed

Vestas reported second-quarter adjusted operating profit of EUR 57 million, 36% below the company-compiled consensus of EUR 89 million, as offshore ramp-up costs led to a power solutions’ adjusted EBIT margin of negative 0.4%. Management reaffirmed its targets for the full year.

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