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Gamesa reports net profit of €31 million for nine months

Gamesa reported €31 million euro in net profit in the first nine months of 2013, contrasting with a loss of €67 million in the same period last year.

This positive result, coupled with expanding margins, is an advance on the profitability improvement process that commenced in the first quarter, and exceeds the guidance for the full year. This is despite economic difficulties and the complex situation in the industry, the company says.

Gamesa attained €1,655 million in revenues between January and September with a lower volume of activity due to the strategy of controlling working capital and aligning manufacturing to deliveries, plus the lower contribution from the wind farm business.

Latin America and Southern Cone was the largest single sales destination, accounting for 51% of the total, followed by Europe and Rest of the World (29%) and India (18%). The contribution by the US and China (1% each) declined in the quarter.

The company has 470 MW of new firm orders signed in October, on the basis of the new product portfolio and the company's positioning in emerging markets, which raised the order book to 1,750 MW. This acceleration in activity supports rising volume performance in 2014.

 

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