EnergyWatch

MHI Vestas breaks even in 2018/2019 after several deficit years

Despite having a 77 percent growth in revenue, Mitsubishi Heavy Industries has still not been able to achieve an operating profits in the joint venture MHI Vestas. The company now says that a break-even is just around the corner.

MHI Vestas Offshore Wind, a joint venture between Denmark's Vestas and Japanese Mitsubishi Heavy Industries, closed its fiscal year 2017/2018 with strong growth but with a continued operating deficit.

The company indicates that the present fiscal year 2018/2019 will be a seminal year with a break-even operating result, the company reports in its annual financial statement for the fiscal year 2017/2018, which ended in late March.

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