Q3 2022 Vestas Wind Systems A/S Earnings Call Transcript
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Good morning, and welcome to this Vestas' presentation of our Third Quarter 2022. Another quarter with a number and many variables in the external environment. So I'll also take here upfront the opportunity to thank our many external stakeholders, customers and, not least, our 28,000-plus employees upfront for battling through this quarter.
So with that, I would like to go to the key highlights. So when we look at the key highlights for Q3, the average selling price continues the upward trend. Increased prices secure continued high order backlog of a bit more than EUR 18 billion despite lower order intake of 1.9 gigawatt. We see offshore momentum building, so the preferred supplier agreements of 3.8 gigawatt announced over the last quarter.
We released a revenue of EUR 3.9 billion. That's a revenue decrease by 29% year-on-year, mainly driven by some project delays in the quarter.
And then when we look at the profitability, the profitability negative but improving
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