Gamesa doubles net profit

Gamesa reports that it has doubled its net profit to €126 million on a 30% increase in revenues to €2,533 million.

Strong commercial activity boosted order intake to 3,990 MW in the last twelve months, with orders from 25 different countries, the company said.

Results for the first nine months of 2015 show improvements in revenues, returns, net profit and the balance sheet. Between January and September 2015, the company doubled net profit to €126 million, driven by improvements in revenues and underlying EBIT.

Gamesa's revenues increased by 30.4% to €2,533 million in the first nine months of 2015, driven by strong growth in wind turbine revenues as activity surged 26% to 2,301 MWe following eight straight quarters of double-digit growth. Operation and maintenance services revenues increased by 7% to €345 million in the period.

India accounted for 28% of MW sold, followed by Latin America (25%) and Europe & RoW (21%). China contributed 15% and the USA, 11%.

Order intake in the first nine months of 2015 amounted to 2,841 MW, bringing the order book at the end of September to 3,034 MW.

This year Gamesa launched new platforms to complete its product line, which improves its access to markets such as northern Europe and enables it to enter new markets such as Canada, Australia and South Africa.

This story is reprinted from material from Gamesa, with editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.