Danish wind turbines maker Vestas Wind Systems
(VWS.KO) Wednesday posted a second-quarter net profit above expectations and
said it is sticking to its full-year guidance.
MAIN FACTS:
-Net
profit for the April to June period swung to EUR55 million, from a EUR143
million loss a year ago. Average expectations in a Dow Jones/Factset survey of
nine analysts was for a EUR35.9 million profit.
-Earnings before interest and tax were EUR77 million, from a EUR180 million
loss a year ago and against expectations for EUR63 million.
-First-half Ebit beat company guidance for a break-even result, coming in at
EUR8 million.
-The firm posted second-quarter revenue of EUR1.4 billion, up from EUR1.0
billion a year ago and against expectations for EUR1.04 billion.
-The order backlog at the end of June was EUR8.0 billion.
-The company still forecasts a margin on earnings before interest and taxes, or
Ebit, at 7% for 2011 and sales of EUR7 billion. It also predicts an order
intake between 7,000 and 8,000 megawatt of installed production capacity.
-Revenue for the fourth quarter is expected to be at the same level as last
year.
-Shares
Tuesday closed at DKK89.