Vestas Wind Systems (VWDRY.PK) reported that its first-quarter loss before tax narrowed to 151 million euros from 225 million euros last year. Net loss for the quarter was 151 million euros, compared to a loss of 162 million euros last year. Loss per share was 0.74 euros, compared to a loss of 0.80 euros per share last year.
Revenue decreased to 1.10 billion euros from 1.11 billion euros last year. Gross profit improved to 58 million euros from 12 million euros last year.
Vestas maintained its full-year guidance of an EBIT margin before special items of at least 1 percent and revenue of at least 5.5 billion euros, including service revenue. Vestas expects to further reduce the number of employees during 2013 and the year-end number of employees is expected to be no more than 16 thousand.
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