Sales boost Gamesa revenues in H1

SPAIN: A strong growth of sales in India and Latin America have helped Gamesa revenues grow 30.8% year-on-year to €1.65 billion in the first half of 2015.

Gamesa's G114-2.5MW turbine will be installed at the Kingallioch project in Scotland
Gamesa's G114-2.5MW turbine will be installed at the Kingallioch project in Scotland

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In the first six months of the year, pre-tax profits for the Spanish manufacturer increased 64.4% to €136 million against the same period of 2014.

Gamesa achieved over 1.48GW of sales in the first of half the year — an increase of 24.9% year on year — thanks to strong activity in India and Latin America, which together provided 45% of the total.

Europe and the US contributed 38% of sales and activity in China increased to 17%.

One of its largest orders received during the period was a 239MW deal from Iberdrola-subsidiary ScottishPower Renewables for the Kilgallioch project in the UK. Gamesa will supply 94 of its new G114 2.5MW and two G90 2MW medium wind turbines to go to the project in southern Scotland. According to Gamesa the project will be commissioned in Q1 2017.

The firm said the growth is in line with guidance for 2015, which predicts final year revenues of approximately €3.4 billion and sales of 3.1GW.

In February, Gamesa announced it had more than doubled its net profits to €92 million for 2014, compared with €45 million in 2013 with sales increasing 34%, also because of an increase in activity in Latin America and India.

Worldwide, Gamesa now has over 30GW installed. It is aiming to become the largest manufacturer in India and Mexico.

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