As a result of the slowing order intake from the autumn of 2008 to the end of 2009 and the timing profile of the orders received, Vestas draws on its credit facilities. Longer term, Vestas will to be able to finance its organic growth through operations. Cash flow from operating activities before changes in working capital rose to EUR 88m in the second quarter of 2011 from EUR (247)m in the second quarter of 2010. Cash flow from operating activities including costs for warranty commitments amounted to EUR 126m, against EUR (309)m in the second quarter of 2010. Cash flow from investing activities amounted to EUR (189)m. The investments were made primarily in buildings, plants and development projects.
