Vestas is “fully focused on returning to profitability” said chief executive Henrik Andersen, who pledged “commercial discipline” as the Danish wind energy company posted a €1.57bn ($1.69bn) net loss last year amid cost rises, product impairments, increased warranty provisions and the exit from Russia.

As already announced as part of preliminary figures last month, the wind turbine manufacturer in 2022 had lower-than-expected revenues of €14.49bn