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Vestas generated second-quarter revenue of € 1,211 million, an increase of 11 per cent, realising a decline in EBIT of 15 per cent to € 78 million relative to Q2 2008.
In general, quarter-on-quarter fluctuations are due to changes in the activity level and variations in the contract types. Net working capital stood at 11 per cent of expected annual revenue, against (1) per cent the year before. The order backlog of firm and unconditional orders amounted to € 4.0 billion at 30 June 2009. In spite of the weak order intake since the onset of the credit crisis, Vestas retains its forecast for 2009. Since the end of the reporting period, Vestas has recorded an order intake of € 0.7 billion with unchanged payment patterns. Additionally, Vestas' corporate Contract Review Board will be evaluating several contracts with a total value of more than € 4.4 billion in the upcoming period.
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