Vestas revises the result for 2007
Company announcement from
Vestas Wind Systems A/S
Randers, 4 February 2008
Company announcement No. 10/2008
Vestas revises the result for 2007
Based on a strong fourth quarter 2007, Vestas revises the expectations for the
2007 result. Compared to 2006, revenue is expected to increase by EUR 1bn to
approx EUR 4.85bn. At the same time, EBIT margin is expected to increase from
5.2 per cent to approx 9 per cent. Significant pre-payments from customers
reduced the net working capital in the last quarter of the year to approx minus
1 per cent of annual revenue. Cash flow is expected to increase by approx 100m
to approx EUR 700m for all 2007.
The expectations for 2008 are maintained as informed in the quarterly report for
third quarter 2007 on 6 November 2007.
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| | Expected | Expected | Full year |
| | 2007 result, | 2007 result, | 2006 |
| | 4 Feb. 2008 | 6 Nov. 2007 | |
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| Revenue (mEUR) | 4,850 | 4,500 | 3,854 |
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| EBIT margin (%) | approx 9.0 | approx 8.0 | 5.2 |
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| Net working capital (%) | (1) | max. 10 | 3 |
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| Financial items, net (mEUR) | 0 | (10-15) | (40) |
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| Tax rate (%) | 34 | 33 | 31 |
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| Investments | 265 | 300 | 153 |
| -property, plant and | 82 | 75 | 35 |
| equipment (mEUR) | | | |
| -intangible assets (mEUR) | | | |
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Vestas' annual report for 2007 will be published on Wednesday, 27 February 2008
at 8.30 CET. The annual accounts will be presented for analysts, investors and
the press in London at 2 p.m. (London time)/3 p.m. (CET) at The Landmark London,
222 Marylebone Road, London NW1 6JQ, England. The presentation will be held in
English and webcast live with simultaneous interpretation into Danish, German,
Italian, Spanish and Mandarin via Vestas' website www.vestas.com. The subsequent
roadshow will apart from London include Boston, San Francisco, Madrid, Milan,
Paris, Amsterdam, Frankfurt, Copenhagen and Stockholm.
Any questions may be addressed to Ditlev Engel, President and CEO of Vestas Wind
Systems A/S, or to Peter Wenzel Kruse, Senior Vice President of Group
Communications at Vestas Wind Systems A/S, both on telephone +45 9730 0000.
Yours sincerely
Vestas Wind Systems A/S
Bent Carlsen Ditlev Engel
Chairman of the Board President and CEO
