Wind group Vestas according to preliminary figures expects to suffer an operating loss for last year amid project delays and warranty provisions, and in a downbeat first outlook for 2023 sees continued “challenges to profitability” from supply chain inflation and reduced wind power installations.

While being able to raise prices for its turbines – which bodes well for future revenues – the Danish manufacturer in 2022 had lower-than-expected revenues of €14.49bn ($15.75bn), below the €14.5-15.5bn seen in its last guidance and much lower than the €15-16.5bn