Gamesa tears up business plan as its sales slump in Asia

Spanish wind turbine manufacturer and developer Gamesa has slashed its sales guidance for 2012 and is cancelling its 2011-2013 business plan, due to stalling orders in Asia.

Executive chairman Ignacio Martin says Gamesa’s business plan is being revised because of the “unexpected” situation in which the company finds itself. A new plan will be presented in October.

Gamesa now expects full-year sales of 2GW for 2012, compared to its previous guidance of 2.8-3.2GW.

The company now expects to break even in before-tax-and-interest (Ebit) terms, compared to an Ebit margin of 2-4%.

Wind turbine sales fell by 11.8% to 1.14GW in the first half of 2012, against 1.29GW at the same stage in the previous year.

Overall new orders fell by 3% to…

Become a Recharge subscriber!

Or try our free trial.

Order Subscription

Already a member?

Login