Revived Gamesa sees 2014 growth

Spanish wind group Gamesa said it beat its key financial targets last year by increasing profitability in a tougher market – and expects to see growth in 2014.

The company delivered a 2013 Ebit margin of 5.5% – higher than the top of its guidance range – on sales 12.6% below 2012’s level at €2.34bn ($3.2bn).

Gamesa delivered a net profit of €45m, compared to the monster  €659m deficit it ended 2012 with, which was mostly due to write-downs .

The company shifted 1.953GW last year, at the top of its forecast range of 1.8GW-2GW.

O&M contributed 16% of revenues.

Latin America loomed far larger in Gamesa’s sales mix, accounting for 49% of megawatts sold compared to 32% in 2012.

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