Vestas Q3 revenue increases
Nov 07, 2007 - Datamonitor
Vestas, the Danish wind turbine maker, announced
revenue of E1.5 billion for the third quarter of 2007,
compared to E842 million for the same quarter of 2006.
The company achieved earnings (EBIT) of E102 million
for the third quarter of 2007, compared to E40 million
for the third quarter of 2006.
It shipped 1,245MW during the quarter, compared to
1,060MW the year before, an increase of 17%. The third
quarter order backlog amounted to E4.1 billion, compared
to E3.1 billion in the same quarter of 2006.
Cash flows from operating activities before the change
in working capital rose from E16 million in Q3 2006
to E100 million in Q3 2007.
At 5% of annual revenue, the lower net working capital
is due especially to customer prepayments, which increased
by E616 million relative to Q3 of 2006.