Continuing growth in earnings for No. 1 in Modern Energy
Summary: Second-quarter revenue and EBIT rose to EUR 1,067m and EUR 90m,
respectively, or by 19 and 221 per cent, respectively, relative to Q2 2006.
Shipments rose by 8 per cent to 1,090 MW in Q2 2007. The improvement especially
in the EBIT margin from 3.1 per cent to 8.4 per cent was in line with
expectations, reflecting the higher level of activity, ongoing improvements as
well as other factors. Warranty provisions were unchanged at 5 per cent. Vestas
reiterates its 2007 EBIT margin forecast of 7-9 per cent. Wind power is today
the leading modern form of energy, and Vestas is therefore No. 1 in Modern
Energy.
