Interim financial report, first quarter 2008

No. 1 in Modern Energy: Profitability is still improving 

Summary: Vestas generated first-quarter revenue 2008 of EUR 701m against EUR
760m in the first quarter of 2007. EBIT climbed 70 per cent to EUR 34m, 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 EUR 107m,
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 approx 70
per cent of total revenue being generated in the second half. The order backlog
at 31 March 2008 amounted to EUR 4.8bn, an increase of 20 per cent relative to
March 2007.