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.

by James Quilter 26 February 2015

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 “uåX˜äŠÊ˜·³Ç Intelligence, “uåX˜äŠÊ˜·³Ç'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.