Vestas Reports Q1 2016 Financial Results

Aarhus, Denmark - n the first quarter of 2016, Danish wind power manufacturer Vestas generated revenue of EUR 1,464m

EBIT before special items increased by EUR 6m to EUR 85m. The EBIT margin before special items was 5.8 percent compared to 5.2 percent in the first quarter of 2015 and the free cash flow amounted to EUR (296)m compared to EUR 146m in the first quarter of 2015.

The intake of firm and unconditional wind turbine orders amounted to 2,403 MW in the first quarter of 2016. The value of the wind turbine order backlog amounted to EUR 8.6bn at 31 March 2016. In addition to the wind turbine order backlog, Vestas had service agreements with contractual future revenue of EUR 9.4bn at the end of March 2016. Thus, the value of the combined backlog of wind turbine orders and service agreements stood at EUR 18.0bn

Source: IWR Online, 29 Apr 2016