Vestas Reports Strong Q4

9 February 2010 (Last Updated February 9th, 2010 18:30)

Vestas, the world's biggest wind turbine maker, saw fourth quarter earnings beat forecasts but trimmed earnings and revenue guidance for 2010. Earnings before interest and tax (EBIT) rose to €458m ($628m) in October-December from €382m a year earlier. The result beat an ave

Vestas, the world's biggest wind turbine maker, saw fourth quarter earnings beat forecasts but trimmed earnings and revenue guidance for 2010.

Earnings before interest and tax (EBIT) rose to €458m ($628m) in October-December from €382m a year earlier.

The result beat an average expectation of a rise to €395m in a Reuters poll of analysts.

Vestas lowered its full-year 2010 revenue forecast to €7bn from a previous range of 7-8 billion and trimmed its EBIT margin guidance for this year to 10-11% from a previous 10-12%.