Vestas generated first half-year revenue of € 2,461 million; an increase of 31 per cent on the first half of 2010. EBIT amounted to € 8 million, against a loss of € 219 million in the first half of 2010. The EBIT margin thus rose to 0.3 per cent from (11.6) per cent. The free cash flow improved significantly to € (494) million from € (1,058) million in the first half of 2010.
The half-year intake of firm and unconditional orders was 2,895MW, and the backlog of firm and unconditional orders amounted to € 8.0 billion at 30 June 2011. Firm and unconditional orders covering almost all the expected revenue of € 7 billion for 2011 have already been secured, which is why the outlook for revenue, EBIT margin and the free cash flow is maintained at € 7 billion, 7 per cent and a minimum of € 0, respectively. In spite of the macro-economic and financial uncertainty, Vestas still expects an intake of firm and unconditional orders of 7,000-8,000MW in a market that remains fiercely competitive.
The half-year intake of firm and unconditional orders was 2,895MW, and the backlog of firm and unconditional orders amounted to € 8.0 billion at 30 June 2011. Firm and unconditional orders covering almost all the expected revenue of € 7 billion for 2011 have already been secured, which is why the outlook for revenue, EBIT margin and the free cash flow is maintained at € 7 billion, 7 per cent and a minimum of € 0, respectively. In spite of the macro-economic and financial uncertainty, Vestas still expects an intake of firm and unconditional orders of 7,000-8,000MW in a market that remains fiercely competitive.
