Vestas continued to improve its performance in 2007. Revenue increased by € 1,007 million to € 4,861 million.
EBIT improved by € 242 million to € 443 million (EBIT margin: 9.1 per cent) from € 201 million (5.2 per cent) in 2006. Net working capital declined over the course of the year by € 190 million to € (68) million at 31 December, contributing to a € 103 million improvement in cash flows from operations, which rose to € 701 million.
Outlook for 2008
Revenue is forecast to rise to € 5.7 billion, and EBIT margin is expected to increase to 10-12 per cent. Net financial items are expected to remain unchanged at € 0, and the tax rate will fall to approx 28 per cent. Total investments are expected to amount to € 620 million, and net working capital will not exceed 15 per cent. Vestas expects to increase its market share to approximately 25 per cent.
Outlook for 2008
Revenue is forecast to rise to € 5.7 billion, and EBIT margin is expected to increase to 10-12 per cent. Net financial items are expected to remain unchanged at € 0, and the tax rate will fall to approx 28 per cent. Total investments are expected to amount to € 620 million, and net working capital will not exceed 15 per cent. Vestas expects to increase its market share to approximately 25 per cent.