Interim financial report, third quarter 2009

Expectations for EBIT and revenue 2009 maintained. Targets for 2015 determined

Vestas generated third-quarter 2009 revenue of EUR 1,814m, an increase of 3 per
cent and recorded an EBIT increase of 53 per cent to EUR 244m relative to Q3
2008. Net working capital stood at 15 per cent of expected annual revenue,
against (1) per cent the year before. The order backlog of firm and
unconditional orders amounted to EUR 3.5bn at the end of September 2009. At 30
September 2009, Vestas had net interest-bearing debt of EUR 61m on total assets
of EUR 6,133m. Of Vestas' overall energy consumption in Q3, green energy
accounted for 39 per cent, and the incidence of industrial injuries was once
again improved. A 6.0 MW offshore wind turbine is under development. For 2009,
Vestas still expects an EBIT margin of 11-13 per cent and revenue of EUR 7.2bn.
Net working capital is expected to amount to 10-20 per cent. In 2010, Vestas
expects to achieve an EBIT margin of 10-12 per cent and revenue of EUR 7-8bn.
Vestas expects to achieve an EBIT margin of 15 per cent and revenue of EUR 15bn
not later than 2015 - thus making its vision “Wind, oil and gas” become a
reality with wind serving as fuel on a level with oil and gas.