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Spain

Gamesa doubles profits in 2014

SPAIN: Gamesa has announced it has more than doubled its net profits in 2014 to €92 million, compared with €45 million in 2013.

Gamesa sales were up 34% in 2014
Gamesa sales were up 34% in 2014

The company has posted revenues of €2.85 billion for the year. This was helped by turbine sales of 2.6GW, a 34% rise on the previous year.

This helped the company bank an EBIT of €191 million, a rise of 34%. Looking ahead, Gamesa said it expected sales of 2.8-3.1GW in 2015, with revenues of €3.15-3.40 billion and an EBIT margin of 8%.

In terms of sales, Gamesa said order rises in orders had come from Latin America (34%) and India (26%)(+15%) and China (+9%).

Operation and maintenance (O&M) revenues, contributing 15% of the total, expanded by 19% in 2014 to €435 million, with an EBIT margin of 12.7%.

According to Windpower Intelligence, Windpower Monthly's data division, Gamesa projects brought online in 2014 included the 100MW Savalsang (Mytrah Energy) project in India and the 74MW El Retiro wind farm in Mexico.

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