Order backlog and activities
The quarterly order intake was 1,316 MW, of which 56 per cent has been announced publicly. For the first nine months of the year, the order intake was 4,211 MW, of which more than 34 per cent were for V100 or V112 turbines. The order backlog amounted to 8,304 MW at the end of September 2011. Europe and Africa accounted for 59 per cent and Americas and Asia Pacific accounted for 27 and 14 per cent, respectively. The value of the order backlog was EUR 8.0bn at the end of September 2011
In the third quarter of 2011, Vestas produced and shipped wind power systems with an aggregate output of 1,525 MW (770 turbines) against 1,456 MW (719 turbines) in the third quarter of 2010. Final capacity delivered to the customers amounted to 1,270 MW; a decrease of 25 per cent from the third quarter of 2010.
| MW | Europe and Africa | Americas | Asia Pacific | Total |
| MW under completion, 1 July 2011 | 1,201 | 366 | 477 | 2,044 |
| MW delivered to customers during the period | (327) | (542) | (401) | (1,270) |
| MW produced and shipped during the period | 675 | 604 | 246 | 1,525 |
| MW under completion, 30 September 2011 | 1,549 | 428 | 322 | 2,299 |
At the end of the quarter, turbine projects with a total output of 2,299 MW were under completion. This is reflected in the level of inventories and prepayments as a large share of the MW that has still not been handed over to the customers, increases the balance sheet total until they are recognised as income when finally handed over.
| Q3 2011*) | Q3 2010*) | 9 months 2011*) |
9 months 2010*) |
Full year 2010 | |
| Revenue (mEUR) | 1,337 | 1,916 | 3,797 | 6,920 | 6,920 |
| EBIT before one-off costs (mEUR) | (92) | 271 | (84) | 52 | 468 |
| EBIT margin before one-off costs (%) | (6.9) | 14.1 | (2.2) | 1.4 | 6.8 |
| Profit after tax (mEUR) | (60) | 187 | (90) | 5 | 156 |
| Cash flow from operating activities (mEUR) | 407 | 362 | 266 | (345) | 56 |
| Free cash flow (mEUR) | 276 | 180 | (218) | (878) | (733) |
*) Neither reviewed nor audited
