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Danish wind-turbine giant Vestas raises full-year outlook after strong Q1 performance

Xinhua, May 6, 2015 Adjust font size:

Danish wind-turbine giant Vestas raised its expected result for the full year 2015, backed by a strong first quarter performance, the company announced Wednesday.

Vestas now expects its revenue for 2015 to achieve a "minimum (of) 7.5 billion euros," as opposed to a previously forecast minimum of 6.5 billion euros, the company said in a financial statement.

Revenue for the first quarter of 2015 amounted to 1.519 billion euros, up 18 percent from 1.283 billion euros year-on-year, according to the statement.

Operating profit before special items rose to 79 million euros in the first three months, as compared to 40 million euros for the same period last year.

The value of the combined backlog of wind turbine orders and service agreements stood at 15 billion euros as of March 31, 2015, which is an increase of 1.2 billion euros year-on-year.

"This has been a historically strong first quarter on revenue, margins, order intake, and return on invested capital," Vestas President and CEO Anders Runevad said in the statement.

"The first quarter results reaffirm that Vestas is making good progress toward achieving its profitable growth objectives and that we are in a very strong position in an otherwise highly competitive industry," Runevad said. Endi