Vestas suspends 2020 guidance amid coronavirus disruptions

The Danish wind turbine manufacturer plans to disclose updated guidance as soon as it deems it is capable of giving new estimates for full-year results

The Big Zero report

Vestas has announced it has suspended guidance for 2020 as a result of disruptions from the coronavirus pandemic, which it says have affected manufacturing, supply chain, and installations.

In a statement, the Danish wind turbine manufacturer noted preliminary numbers indicate that the results for the first quarter of this year are ‘in line with expectations’ with the total order intake for the quarter amounting to 3.3GW – it said it plans to disclose updated guidance as soon as it deems that it is capable of giving new estimates for the full-year results.

Henrik Andersen, Group President and CEO, said: “The situation changes daily and my colleagues’ ability to adapt fast and follow our extensive safety measures have been key to keeping performance in the first quarter in line with expectations.

“Unfortunately, the pandemic continues to spread and with no clear prognosis on when key wind markets such as the USA, Brazil and India will recover, we are suspending our guidance due to the poor visibility for the remainder of the year.”

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