Vestas Upgrades 2013 Free Cash Forecast to About 1 Billion Euros

Vestas Wind Systems A/S (VWS), the biggest wind turbine maker, upgraded its estimate for free cash flow for 2013 to approximately 1 billion Euros ($1.4 billion) from previous guidance of 500 milion euros to 700 million euros.

“The improvement is primarily driven by a better- than-expected development of the net working capital,” Aarhus, Denmark-based Vestas said today in a statement. The company is due to report full year earnings on Feb. 4.

Vestas shares extended earlier gains after the announcement, to as high as 187.8 kroner, their highest intraday level since April 2011.

To contact the reporter on this story: Alex Morales in London at

To contact the editor responsible for this story: Reed Landberg at

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.