Vestas Announced 2010 Q2 Financial Results
September 20, 2010
Vestas Wind System, the Danish-based world leader in wind energy, announced its interim financial results for second quarter 2010.
The company generated second-quarter order intake of 3,031 MW, which was the highest level ever recorded and on a level with the order intake for the whole of 2009.
The value of the backlog of firm and unconditional orders amounted to EUR 5.2bn at 30 June. Vestas announced second-quarter revenue of EUR 1,007m, a drop of 17 per cent relative to the second quarter of 2009, realising an EBIT of EUR (148)m, against EUR 78m in the second quarter of 2009.
The EBIT margin thus declined from 6.4 per cent to (14.7) per cent as a result of the expected very low capacity utilisation in the wake of the credit crisis.
Available video includes soundbites from Ditlev Engel, CEO and President of Vestas, at the results presentation, as well as general views of Vestas headquarters in Randers, Denmark, and Vestas’ facilities and products.