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Gamesa Q1 profit soars on new markets

Gamesa has seen a 67% jump in net profit to €13 million in the first quarter (Q1) of 2011 with international markets driving sales.

By Renewable Energy Focus staff

Consolidated revenues reached €585m, up 24%. Gamesa says for the first time, all sales were from outside Spain with Europe (excluding Spain) accounted for 27%; India 24%, China 13%, US 8% and ROW 28%.

Gamesa now has a 10% market share in India after only 18 months’ presence. Significant progress has also been made in Latin America.

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