Vestas increases full year financial targets

Aarhus, Denmark - In the first quarter of 2015, danish wind turbine manufacturer Vestas generated revenue of EUR 1,519m

EBIT before special items increased by EUR 39m to EUR 79m. The EBIT margin before special items was 5.2 percent and the free cash flow increased by EUR 170m to EUR 146m compared to the first quarter of 2014.

The intake of firm and unconditional wind turbine orders amounted to 1,750 MW in the first quarter of 2015. The value of the wind turbine backlog amounted to EUR 7.5bn at 31 March 2015. In addition to the wind turbine order backlog, Vestas had service agreements with contractual future revenue of EUR 7.5bn at the end of March 2015. Thus, the value of the combined backlog of wind turbine orders and service agreements stood at EUR 15bn

Source: IWR Online, 06 May 2015