LM Wind Power
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Annual report2012

Leo Schot

Leo Schot

Chief Executive Officer

Focus on cashmaintainsperformance

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While overall, the commercial outlook for the wind sector over the mid to long term remains positive, difficult market conditions prevailed throughout 2012 and additional factors like regulatory uncertainty in key markets contributed to a volatile picture.

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Note to Readers:
We have published the accounts of LM WP Holdings, which are the accounts of our operating group, in full, on this website. The accounts of all other entities are available to the public via the Companies and Commerce Agency in Denmark. This representation is to give a more accurate view of the borrowings of the operating business, as certain borrowings reside at the shareholding company level and have no recourse to the cash flows, earnings or assets of the operating group.