Gamesa Increases Net Profit by 42 Percent

Zamudio, Spain

This performance, which is higher than projected at the beginning of the year, enabled the company to upgrade its guidance for 2016 in terms of both volume and operating profitability.

Strong commercial activity: record revenues and orders Between January and June, Gamesa achieved 2,192 million Euro in revenues, 33 percent more than in the same period of 2015, driven by strong growth in wind turbine manufacture and sales. The upgrade is due mainly to growth achieved in India, Latin America, Europe and the US.

Strong commercial performance is also evident in the record order intake, which increased by 16 percent to 1,180 MWe in the second quarter. The order book at end-June 2016 stood at 3,228 MW, exceeding the low end of the initial guidance for the full year and supporting an upgrade to the full-year guidance (≥4,000 MWe). Moreover, the G114-2.0 MW and 2.5 MW model accounted for 55 percent of order intake in the first half.

Operation and maintenance service revenues were in line with the projections in the Business Plan 2015-2017: 228 million Euro, with an EBIT margin of 13.7 percent.

Rising profitability In this context of growing activity, Gamesa continued to boost profitability through control of structural expenses and continuous improvement of variable expenses. It ended the first half of 2016 with EBIT of 230 million Euro (+70 percent) and an EBIT margin of 10.5 percent.

Net profit amounted to

Source: IWR Online, 28 Jul 2016