Company announcement from
Vestas Wind Systems A/S
Randers, 6 November 2007
Interim financial report, third quarter 2007
Company announcement No. 35/2007
Interim financial report, third quarter 2007
Continuing growth for No. 1 in Modern Energy
Summary: Vestas generated third-quarter revenue of EUR 1.150m (2006: EUR 842m),
achieving an EBIT of EUR 102m (2006: EUR 40m), thus lifting the EBIT margin
from 4.8 per cent to 8.9 per cent over the past 12 months. Warranty provisions
stand at 5 per cent. We reiterate our revenue forecast for 2007, specify the
EBIT margin and improve the working capital. By the end of 2008 at the latest,
Vestas and all of its sub-suppliers must have reached a Sigma quality level of
4. A persistent enhancement of profitability in the years ahead is a
precondition for the industry to play a key role in developing the world's
energy supply. Vestas shipped 1,245 MW during the quarter as against 1,060 MW
the year before, an increase of 17 per cent. The order backlog at 30 September
2007 amounted to EUR 4.1bn, against EUR 3.1bn in 2006. Effective from 1 January
2008, Vestas introduces a bonus scheme comprising all Vestas.
