2012 was a challenging year for the wind power industry and for Vestas. Revenue amounted to EUR 7.2bn, EBIT before special items was EUR 4m and free cash flow amounted to EUR (359)m.
A total of EUR 701m was recognised as special items primarily driven by write-downs. For 2013, Vestas expects shipments of 4-5 GW, revenue to amount to at least EUR 5.5bn with an EBIT margin before special items of at least 1 per cent and a positive free cash flow.
Vestas Wind Systems A/S, the world’s biggest wind turbine maker, cut its shipments guidance for 2013 and posted a bigger loss than forecast for 2012.
Vestas posted a net loss of 963 million euros for the year, when analysts had predicted a net loss of 228 million euros, according to the average of 15 forecasts on Bloomberg.
The Aarhus, Denmark-based manufacturer also cut its shipments forecast for 2013 to 4 gigawatts to 5 gigawatts of wind turbines from previous guidance of about 5 gigawatts.
Press and analyst meeting in Aarhus, Denmark
In connection with the disclosure of this annual report, an information meeting will be held today, Wednesday, 6 February 2013 at 10 a.m. CET (9 a.m. GMT) for analysts, investors and the media at:
Vestas Wind Systems A/S
8200 Aarhus N
Further details at vestas.com/investor.
Vestas Wind Systems A/S, Denmark
Lars Villadsen, Senior Vice President, Investor Relations
Tel.: +45 9730 7201
Mikkel Friis-Thomsen, Media Relations
Tel.: + 45 4098 3174