Vestas generated third-quarter revenue of € 1,759 million against € 1,150 million in the third quarter of 2007, which was in line with expectations.
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EBIT rose from € 102 million to € 160 million, corresponding to an EBIT margin of 9.1 per cent, consistent with expectations. In the third quarter of 2007, the EBIT margin was 8.9 per cent. Net working capital stood at € (37) million, or (1) per cent of expected annual revenue, against 4 per cent the year before. Full-year expectations are still for an EBIT margin of 10-12 per cent on revenue of € 5.7 billion. For 2009, Vestas expects revenue of € 7.2 billion and an EBIT margin of 11-13 per cent. The order backlog of firm and unconditional orders at 30 September 2008 amounted to € 6.5 billion, an increase of 59 per cent relative to September 2007.
