Vestas pulled in revenues of €1.11bn ($1.46bn) in the first three months of 2012 – just 4% higher than in the first quarter last year and lower than analysts’ consensus forecasts of €1.48bn.

Earnings before interest and tax (Ebit), not counting special items, showed a loss of €204m, compared with a profit of €135m last year.

Including special items the Ebit loss was €245m.