Gamesa Profit Triples

Gamesa obtained €62 million euro in net profit in the first quarter of 2015, i.e. more than triple the €17 million reported in the same period last year.

This improvement reflects sound sales activity and a continuous improvement in the company’s profitability, with an underlying EBIT margin of 8%. The launch of Adwen had a positive impact of €18.5 million on net profit. Excluding that transaction, underlying net profit was €44 million, 2.6 times the corresponding figure for the same period of last year. These results are in line with 2015 guidance and support the trend in profitable growth that began in 2014.

Sales performance in the first quarter of the year reinforces Gamesa’s trend in growth, having increased by 43% to €820 million. That figure is mainly attributable to sharp growth in revenues from the WTG division, +52% with respect to Q1 2014, principally due to growth in activity to 712 MW.

Operating and maintenance service revenues were stable, amounting to €108 million (+3%), and the EBIT margin was 12.5%.