Second-quarter revenue and EBIT rose to € 1,067million and € 90million, respectively, or by 19 and 221 per cent, respectively, relative to Q2 2006.
Shipments rose by 8 per cent to 1,090MW in Q2 2007. The improvement especially in the EBIT margin from 3.1 per cent to 8.4 per cent was in line with expectations, reflecting the higher level of activity, ongoing improvements as well as other factors. Warranty provisions were unchanged at 5 per cent. Revenue is still expected to rise by 17 per cent to approx € 4.5 billion. Vestas' output capacity and, by extension, its expenditure, is fully primed for the anticipated higher level of activity in Q3 and Q4 2007. As a result, the unstable component situation presently prevents Vestas from narrowing its EBIT margin forecast for 2007 to the upper end of the 7-9 per cent range. Net working capital is expected to amount to a maximum of 15 per cent of annual revenue at the end of 2007, as compared with the previous forecast of 15-20 per cent.
