VIDEO from thenewsmarket.com and Vestas Wind Systems AS: Vestas Announces Its 2010 Q3 Financial Results: Adjustment of Capacity, Increasing Order Backlog, Positive Free Cash Flow

Oct 26, 2010, 05:49 ET from thenewsmarket.com from ,Vestas Wind Systems AS

NEW YORK, Oct. 26 /PRNewswire/ -- See video from Vestas Wind Systems AS at:  http://www.thenewsmarket.com/Releases/StoryDetailPage.aspx?GUID=a0a67bb9-16e8-43bc-93b3-4f6deb9e67a1#

Vestas reported a third-quarter profit and a positive free cash flow following the loss in the first half year of 2010. Vestas generated third-quarter revenue of EUR 1,722m against EUR 1,814m in the year-earlier period. Net working capital stood at 25 per cent of expected annual revenue, and the free cash flow was EUR 180m against EUR (203)m in the third quarter of 2009. During the first nine months, Vestas' intake of firm and unconditional orders amounted to 6,567 MW, which is the highest level ever recorded. At the end of the quarter, the order backlog amounted to 5,884 MW with a value of EUR 5.7bn. Safety at Vestas' workplaces was improved further, and green energy accounted for 44 per cent of Vestas' total energy consumption. At the beginning of 2010, Vestas resolved to retain substantial excess capacity in Europe in expectation of an increased demand in 2010 and 2011. Available material includes soundbites from CEO Ditlev Engel and general views of Vestas headquarters in Denmark.

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