Gamesa hit by €21 million Q1 profit fall

SPAIN: Gamesa has been hit by a €21 million first quarter profit fall as the result of falling prices and costs related to new product development.

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In Q1 2011 the company made a €11 million profit. However, the company was able to announce a 33% increase in sales to €777 million.

The company's order intake for the period was 687MW, an increase of 136% on Q1 2011, taking the overall order pipeline to 1,776MW.

Key figures:

  • Sales: €777 million (+33%)
  • EBITDA: €32 million (-58%)
  • EBIT: -€5 million
  • Net profit: -€21 million

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