COPENHAGEN (dpa-AFX) - Vestas Wind Systems A/S (VWDRY)) on Wednesday reported lower loss for its second quarter, driven by increasing service activity. The company also maintained its full-year earnings and revenue outlook.
Quarterly net loss narrowed to 115 million euros from 119 million loss last year. Loss per share, meanwhile, remained flat with last year's 0.12 euros.
Loss before tax narrowed to 130 million euros from loss of 139 million euros in the previous year.
EBIT narrowed to a loss of 68 million euros from a loss of 147 million euros of the prior year.
Revenue increased 3.8 percent to 3.43 billion euros from 3.31 billion euros last year, driven by higher value of turbine deliveries and increasing service activity.
Looking ahead to the full year, the company continues to expect an EBIT margin before special items in the range of negative 2 to 3 percent with a service EBIT margin of around 22 percent.
Revenues are still expected to be between 14 billion euros and 15.5 billion euros.
Currently, shares of Vestas are trading at 180.58, up 0.76% on Copenhagen Stock Exchange.
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