COPENHAGEN: The world's largest wind turbine maker Vestas said it would focus on integrating its newly acquired offshore wind business this year after posting fourth quarter sales slightly above expectations on Wednesday.
Traditionally a maker of onshore turbines, the Danish company aims to expand offshore wind equipment production after taking full ownership of a joint venture with Mistubishi Heavy Industries."We met our revised guidance on all parameters, leading the industry on revenue, order intake and profitability despite COVID-19 affecting all parts of our value chain," Chief Executive Henrik Andersen said in a statement.
For 2021, Vestas expects full-year revenue in the range of 16 billion to 17 billion euros and an operating profit margin before special items between 6 per cent to 8 per cent.
"Our focus in 2021 will be to fully integrate offshore and address executional challenges," Andersen said - Link
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