Gamesa looks forward after €600m reality check

Spanish wind turbine group Gamesa confirmed its outlook for 2013 after taking a €600m ($785m) financial hit that “aligned its balance sheet to market realities”.

Announcing its full-year financial results for 2012, Gamesa – which had already previewed the figures in February – claimed this year marks “the beginning of a recovery in profitability and value creation” under a new business strategy.

The €600m of special items, including restructuring costs, left it nursing a net loss of €659m.

But the company says it ended the year in good shape for the future, with a “solid financial position” and a company structure that reflects the changes that have hit the wind industry over the last few years.

Gamesa…

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