Vestas Wind Systems A/S
Interim financial report, first quarter 2015
DGAP-News: Vestas Wind Systems A/S 2015-05-06 / 08:27 --------------------------------------------------------------------- Outlook for 2015 improved. Revenue, earnings, and free cash flow increased compared to the first quarter of 2014. Aarhus, Denmark, 2015-05-06 08:27 CEST (GLOBE NEWSWIRE) -- Summary: In the first quarter of 2015, Vestas generated revenue of EUR 1,519m - an increase of 18 percent compared to the year-earlier period. EBIT before special items increased by EUR 39m to EUR 79m. The EBIT margin before special items was 5.2 percent and the free cash flow increased by EUR 170m to EUR 146m compared to the first quarter of 2014. The intake of firm and unconditional wind turbine orders amounted to 1,750 MW in the first quarter of 2015. The value of the wind turbine backlog amounted to EUR 7.5bn at 31 March 2015. In addition to the wind turbine order backlog, Vestas had service agreements with contractual future revenue of EUR 7.5bn at the end of March 2015. Thus, the value of the combined backlog of wind turbine orders and service agreements stood at EUR 15bn - an increase of EUR 1.2bn compared to the year-earlier period. Vestas upgrades the 2015 guidance on revenue from minimum EUR 6.5bn to minimum EUR 7.5bn and EBIT margin guidance before special items is upgraded from minimum 7 percent to minimum 8.5 percent. Total investments are increased from approx EUR 300m to approx EUR 350m and guidance on free cash flow is upgraded from minimum EUR 400m to minimum EUR 600m. Group President & CEO Anders Runevad said: 'This has been a historically strong first quarter on revenue, margins, order intake, and return on invested capital. The first quarter results reaffirm that Vestas is making good progress toward achieving its profitable growth objectives and that we are in a very strong position in an otherwise highly competitive industry.' Key highlights Record-high Q1 order intake Order intake in the quarter 1,750 MW. Highest combined order backlog ever Wind turbine and service order backlog of EUR 15bn. Return on invested capital (ROIC) at highest level ever ROIC increased to 44 percent (TTM). Earnings improved - highest Q1 ever EBIT margin before special items at 5.2 percent - up 2.1 percentage points compared to Q1 2014. Guidance increased Guidance for 2015 has been increased based on higher than expected order intake year to date, greater visibility for the year, and USD exchange rate development. Information meeting (audiocast) Today, Wednesday 6 May 2015, at 10 a.m. CEST (9 a.m. BST), Vestas will host an information meeting via an audiocast. The audiocast will be accessible via vestas.com/investor. The meeting will be held in English and questions may be asked through a conference call. The telephone numbers for the conference call are: Europe: +44 208 817 9301 USA: +1 718 354 1226 Denmark: +45 7026 5040 Contact details Vestas Wind Systems A/S, Denmark Hans Martin Smith, Senior Vice President, Investor Relations Tel: +45 9730 8209 Vestas Wind Systems A/S Hedeager 42 8200 Aarhus N Denmark Company reg. No.: 10 40 37 82 Tel: +45 9730 0000 Fax: +45 9730 0001 vestas@vestas.com News Source: NASDAQ OMX --------------------------------------------------------------------- 2015-05-06 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- Language: English Company: Vestas Wind Systems A/S Denmark ISIN: DK0010268606 End of News DGAP News-Service --------------------------------------------------------------------- 353511 2015-05-06
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