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Spain

Spain

Gamesa performs well in Latin America over 1H

SPAIN: Gamesa saw a four-fold increase in Latin America sales to 243MW, accounting for 19% of global sales.

Gamesa signed contracts in Honduras and Mexico and sold its first megawatt in Brazil during the first six months of 2011. Its entire turbine sales for the first half of 2011 were made outside its home nation, although it recently announced orders for Spain.

Reporting its results for the first six months of the year, the firm confirmed that it had no sales in Spain but had seen year-on-year first-half global revenue and pre-tax profit both rise by 26%, thanks to strong growth in Latin America and India.
 
Gamesa's revenues for the first half were €1,297 million, with a pre-tax profit of €62 million. Wind-turbine sales grew by 29% on the same period last year to 1,292MW.
 
Europe (primarily Eastern Europe) and China remain Gamesa’s largest markets, accounting for 27% and 20% of sales respectively.
 
Sales in India meanwhile increased 2.4-fold to 216MW, accounting for 17% of the global sales total.

The firm is also reported to have a 10% market share in India, according to the Indian Wind Turbine Manufacturers Association (IWTMA), placing it among the top three wind-energy companies in the country.

In May, Gamesa signed a framework agreement with Caparo to supply 2,000MW between 2012-16.
 
The US accounted for 15% of Gamesa’s sales in the first half and the rest of the world 3%.

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