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Spain

Spain

Gamesa posts record revenues for final solo quarter

SPAIN: Gamesa has reported its final quarterly financial results as a standalone player, with a record revenue total of €1.5 billion.

Gamesa reported revenues of €1.5 billion in its final quarter as a standalone player
Gamesa reported revenues of €1.5 billion in its final quarter as a standalone player

Revenues were up more than 45% on the same period in 2016, the Spanish manufacturer said.

Net profit totalled €100 million as underlying EBIT – excluding the negative effects from Adwen and the merger with Siemens – was €181 million, which is an increase of 52% from last year.

The merger of Gamesa with German manufacturer Siemens, resulting in Siemens Gamesa Renewable Energy (SGRE), was completed on 3 April.

In its final pre-merger financial presentation, Siemens' wind business saw profts increased 13% to €155 million.

Gamesa said SGRE will release a new business plan in the second half of 2017 but the combined company has an industry-leading backlog of €22.2 billion.

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