The commissioning of Vestas’ new generator factory in Travemünde, Germany, is not progressing as planned. Vestas has chosen to postpone the handing over of a number of projects, primarily in Europe.
The changed delivery plans for the remaining part of 2011 imply that the expectations for revenue and EBIT margin are reduced to approximetaly € 6,400 million and approximetaly 4 per cent, respectively, against the previous expectations of approximetaly € 7,000 million and 7 per cent, respectively. The downward adjustment of the EBIT margin is primarily related to the lower volume and consequently the changed product mix as well as consequential costs corresponding to approx € 35 million in 2011. The consequential costs are primarily attributable to liquidated damages as well as agreements already made in relation to production, transportation and installation.
The changed delivery plans for the remaining part of 2011 imply that the expectations for revenue and EBIT margin are reduced to approximetaly € 6,400 million and approximetaly 4 per cent, respectively, against the previous expectations of approximetaly € 7,000 million and 7 per cent, respectively. The downward adjustment of the EBIT margin is primarily related to the lower volume and consequently the changed product mix as well as consequential costs corresponding to approx € 35 million in 2011. The consequential costs are primarily attributable to liquidated damages as well as agreements already made in relation to production, transportation and installation.
