Vestas Profit Falls as Trade Tariffs Bite Wind Supply Chain

By [email protected] Denmark’s Vestas, the world’s largest wind turbine supplier, reported a sharp decline in profit during the second quarter, as the cascading trade war weighs on the global renewable energy supply chain.

But Vestas noted several bright spots for its business, including rapid revenue growth at its offshore wind and services units.

Vestas posted a net profit of €90 million ($100 million) on revenues of €2.12 billion in the second quarter, less than half of the €184 million of profits it pocketed in the year-earlier period. Total revenue fell 6 percent.

“Prices remained stable in the quarter, but further increases in tariffs, raw material

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