Restructuring Gamesa to post €640m loss

Spanish wind group Gamesa claimed to have laid a solid foundation for growth in a tough market, as it revealed it expects to post a net loss of about €640m ($862m) for 2012 after a major shake-up of its global operations.

Gamesa will incur special items of €585m for the last financial year – partly due to one-off restructuring costs –  and described 2012 as “a year for prudence and responsibility” that saw it align its business with a new strategic plan and a changing wind sector.

In an earlier-than-expected release of preliminary results, Gamesa claimed its underlying performance showed the robustness of its business behind the big deficit.

It ended 2012 with 2.12GW of turbine sales, ahead of a 2GW forecast, and profit before interest and tax (Ebit) of €7m.

The Spanish group had…

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