Vestas EBIT beats expectations

Vestas claimed it had delivered on the main areas of its two-year turnaround plan as it released key financial figures that beat expectations.

Vestas pulled in full-year revenue of €6.084bn in 2013 and its earnings before interest and tax (Ebit), before special items was €211m, with a free cash flow of €1.009bn.

The announcement came last night, earlier than expected and ahead of the wind group's scheduled full-year financial results and strategy update today.

It represents a good set of figures,  44% above Ebit consensus expectations, said Recharge Insight director Robert Clover in an immediate response to the results.

Clover added that the early release is a sign of Vestas' confidence, accompanying its unexpected announcement of Log in to read complete article.

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