February 6, 2013 / 9:46 AM / 5 years ago

Vestas CEO says turbine price level bottoming out

COPENHAGEN, Feb 6 (Reuters) - The Chief Executive of Danish wind turbine manufacturer Vestas on Wednesday said the price level for turbines had started to bottom out.

"We are actually seeing in the market that the price level is starting to bottom out," CEO Ditlev Engel said at an investor briefing.

Vestas earlier in the day said fourth quarter earnings before interest and tax (EBIT) before special items increased to 155 million euros, against a forecast for 191 million.

Fourth-quarter revenue rose 23 pct to 2.51 billion euros ($3.4 billion), compared with a forecast for 2.26 billion in a Reuters poll.

$1 = 0.7392 euro Reporting by Mette Fraende

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