Vestas generated first-quarter revenue 2008 of € 701 million against € 760 million in the first quarter of 2007.
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EBIT climbed 70 per cent to € 34 million, which translates into an EBIT margin of 4.9 per cent. In the first quarter of 2007, the EBIT margin was 2.5 per cent. Net working capital stood at € 107 million, amounting to 2 per cent of annual revenue against 4 per cent the year before. Vestas retains its revenue and EBIT margin forecasts for 2008, with approximately 70 per cent of total revenue being generated in the second half. The order backlog at 31 March 2008 amounted to € 4.8 billion, an increase of 20 per cent relative to March 2007.
