In the second quarter of 2016, Vestas generated revenue of € 2,557 million, an increase of 46 per cent compared to the year-earlier period. EBIT before special items increased by € 254 million to € 399 million. The EBIT margin before special items was 15.6 per cent compared to 8.3 per cent in the second quarter of 2015.
The intake of firm and unconditional wind turbine orders amounted to 1,790MW in the second quarter of 2016. The value of the wind turbine order backlog amounted to € 8.2 billion at 30 June 2016. In addition to the wind turbine order backlog, Vestas had service agreements with contractual future revenue of € 9.9 billion at the end of June 2016. The value of the combined backlog of wind turbine orders and service agreements stood at € 18.1 billion, an increase of € 1.2 billion compared to the year-earlier period. Vestas upgrades the 2016 guidance on revenue from minimum € 9.0 billion to minimum € 9.5 billion and EBIT margin before special items from minimum 11.0 per cent to minimum 12.5 per cent.
