Listed gearbox manufacturer Hansen Transmission has fended off the worst of the global financial downturn, reporting revenues of EUR 609 million in the year ending March 31, a rise of 45% above the previous fiscal year. Of that, EUR 515 million was from sales of wind power turbines, 52% up on the previous year. Earnings before interest, taxes, depreciation and amortisation rose 53% to EUR 93.7 million and net profit grew 44% to EUR 45 million. Material and labour costs both fell. Hansen, based in Belgium and majority owned by Indian wind company Suzlon, expects modest growth in key markets this year. It is working with long term customers to "manage their requirements in line with [the] current operating and credit environment." Hansen says it is well positioned to benefit from growth in India and China and that it is on track to boost production capacity to 14.3 GW in 2013. Financing for that expansion is in place, it says.