Spain

Spain

Gamesa projects up to 30% growth of its wind business

The Gamesa group forecasts a growth rate of between 20% and 30% in the next three years and is bracing itself for a leap onto the international market. The news emerged from the company's first shareholders' meeting since going public in October last year. Gamesa's ambitions are largely based on what group president Jose Antonio Garrido refers to as the "spectacular" growth of its wind divisions, including turbine manufacturer Gamesa Eólica and the fast-growing project development wing, Gamesa Energía. According to the company, more than 60% of Gamesa's aggregated turnover derives from its renewable energy sections, and wind turbine manufacturing accounts for around 45% of business. "Gamesa will take advantage of every opportunity to strengthen its two main activities -- renewable energies and aeronautics -- both at home and abroad," says Garrido. Gamesa turnover for year-end 2000 reached EUR 765.75 million -- 30% up on 1999 -- with a profit of EUR 68.83 million, 12% up on the previous year. This follows five years of uninterrupted growth and the company's initial stock market performance, which has seen share value double.

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