Vestas, the Danish wind turbine maker, announced revenue of E1.5 billion for the third quarter of 2007, compared to E842 million for the same quarter of 2006.
The company achieved earnings (EBIT) of E102 million for the third quarter of 2007, compared to E40 million for the third quarter of 2006.
It shipped 1,245MW during the quarter, compared to 1,060MW the year before, an increase of 17%. The third quarter order backlog amounted to E4.1 billion, compared to E3.1 billion in the same quarter of 2006.
Cash flows from operating activities before the change in working capital rose from E16 million in Q3 2006 to E100 million in Q3 2007.
At 5% of annual revenue, the lower net working capital is due especially to customer prepayments, which increased by E616 million relative to Q3 of 2006.