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Vestas' 2011 revenues hit €6bn

Vestas has reported a preliminary revenue estimate of €6 billion for 2011 with an EBIT margin of 0%, due to deferred revenue and earnings, as well as higher-than-expected costs.

By Kari Williamson

Vestas' order intake for 2011 amounted to 7.4 GW at a total value of approx €7.3bn – the forecast was 7-8 GW.

Shipments of wind turbines reached 5.1 GW, slightly below the expected 5.5 GW. At the same time, revenues of approximately €400 million with an EBIT of around €130m is expected to be deferred from 2011 to the first quarter (Q1) of 2012 due to delays in transfer of risk from Vestas to the customers, the wind turbine manufacturer says.

Higher costs

Costs in 2011 are expected to be €125m higher than expected, of which €100m is predominantly related to the development costs for industrialisation of the V112-3.0 MW wind turbine, the GridStreamer technology for the 2 MW, and higher-than-expected production costs.

The final 2011 figures will be confirmed in the Vestas annual report due out on 8 February 2012.

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