Vestas delivered earnings before interest and tax (Ebit) before special items of €67m in the third quarter of 2013, an increase of €54m on the same period a year earlier.

The company said the improvement – against a background of revenues that fell 27% to €1.44bn – showed that it was heading in the right direction.

Vestas attributed the Ebit increase to a "lower fixed cost base and improved project margins".

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