Vestas cuts 2013 shipment guidance

Wind turbine market-leader Vestas has cut its shipment guidance for 2013 due to weaker-than-expected order intake.

Vestas now says it expects to ship between 4GW and 5GW this year. It previously gave a guidance of 5GW. The company shipped 6.2GW in 2012.

The Danish group is forecasting revenues of “at least” €5bn this year, including service revenue, which is expected to grow to about €1bn. Today it reported 2012 revenue of €7.2bn.

Vestas sees a margin before tax and interest (Ebit) of at least 1% in 2013 and a positive free cashflow.

In 2012 the company posted an Ebit of €4m before special items, and a negative free cashflow of Log in to read complete article.

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