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Sales boost Gamesa Q1 results

SPAIN: Gamesa has recorded pre-tax earnings of €66 million in the first quarter of 2015, an increase of 92% year on year.

Sales in India helped boost Gamesa's Q1 results
Sales in India helped boost Gamesa's Q1 results

The increase was helped by a 43% growth in sales, which reached €820 million in the first three months of this year. Gamesa sold 712MW of turbines, 25.6% more than the same period last year.

Most of the Spanish manufacturer's activity came from outside Europe. India (27%) and China (24%) made up over half of the company's orders in the quarter.

In February, Gamesa won 260MW in deals in India with developers Greenko and CLP.

Gamesa said its net profit of €62 million – against €17 million last year – was due to greater profitability and the "extraordinary positive impact" of the offshore joint venture Adwen.

The manufacturer claimed Adwen had a €18.5 million positive impact on net profit. The offshore joint venture between Gamesa and French firm Areva, was officially launched in March 2015.

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