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COPENHAGEN Clayton Kershaw Authentic Jersey , Nov. 7 (Xinhua) -- Danish wind-turbine manufacturer Vestas upgraded its annual outlook Friday, citing strong operational performance and high activity levels in the third quarter of 2014.
Revenue for the third quarter of 2014 rose to 1.813 billion euros (2.246 billion U.S. dollars), up 26 percent from 1.442 euros year-on-year, Vestas said in a financial statement.
Earnings before interest and tax (EBIT) amounted to 163 million euros in the third quarter, as compared to 67 million euros for the same period last year.
The value of the combined backlog of wind turbine orders and service agreements stood at 13.4 billion euros as of Sept. 30 Corey Seager Authentic Jersey , 2014.
Vestas expects its revenue for 2014 to achieve "minimum 6.4 billion to 7.0 billion euros," as opposed to a previous forecast of minimum 6 billion euros.
"The third quarter of 2014 continued the trend with improvements in several operational areas and thus highlights that execution remains on track for our strategy," said Vestas
President and CEO Anders Runevad in the statement.
"Based on the expected delivery plan for the remainder of the year and the improved cost base, we raise our guidance on revenue, EBIT and cash flow Jackie Robinson Authentic Jersey ," he added.
EBIT margin before special items is expected at 7 to 8 percent instead of an earlier forecast of "minimum 6 percent."
The guidance on free cash flow is also upgraded from minimum 300 million euros to 400 million to 700 million euros. (1 euro = 1.24 U.S. dollars)
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