Spain

Spain

Gamesa announces 56% net profit fall

SPAIN: Gamesa announced a net profit fall of 56% for 2010 as a result of a shift to markets with lower margins.

The company said it sold 2,405MW over 2010, which was in line with its forecast. It also has a 1,414MW delivery backlog for 2011.

International markets continue to be a focus for Gamesa and accounted for 93% of MW sales. In 2009, Spain accounted for 27% of sales.

The shift of focus away from Spain comes as Gamesa said it was planning to open 24 new offices around the world. It is also looking to expand in India and Brazil.

Main consolidated figures for 2010: 

  • Revenues: €2,764 million (-14%) 
  • EBITDA: €328 million (-17%)
  • EBIT: €119 million (-33%)
  • Net profit: €50 million (-56%)
  • Wind turbine capex: €128 million

     

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