Windpower Engineering & Development

  • Home
  • Articles
    • Most recent posts
    • News
    • Featured
  • Resources
    • Digital issues
    • Podcasts
    • Suppliers
    • Webinars
    • Events
  • Videos
  • 2025 Leadership
    • 2024 Winners
    • 2023 Winners
    • 2022 Winners
  • Magazine
  • Advertise
  • Subscribe

Gamesa doubles net profit in Q3 2014

By Michelle DiFrangia | November 7, 2014

Gamesa

Gamesa says the company doubled its net profit in the first nine months of the year, to €64 million, compared with €31 million in the same period of 2013. That figure reflects the improvement in revenues (+17%) and margins, with an EBIT of 7.3% at constant exchange rates.

Key figures 9M 2014 (vs. 9M 2013):

  • Revenues: €1,942 million (+17.4%)
  • Sales in MW: 1,832 MWe (+30.6%)
  • EBIT: €123 million (+37.3%)
  • EBIT margin: 6.4% (vs.5.4%, +1 p.p.) EBIT margin at constant exchange rates
  • Net income: €64 million (vs. €31 million, +106%)
  • Net financial debt: €308 million (-60%)
  • NFD/EBITDA: 1.0x (vs. 2.8x)

Acceleration in sales and activity
Gamesa says its revenues increased by 17% in the first nine months of the year, to €1,942 million, supported by the increase in revenues in wind turbine manufacturing (+17%) and O&M services (+20%). Activity volume maintained the positive performance that commenced in the fourth quarter of 2013, to reach 1,832 MWe, 31% more than in the same period of 2013. This improvement is due to the contribution from Latin America (35% of total sales), India (27%) and Europe and RoW (17%). Sales continued to recover in the US and China, which contributed 16% and 5%, respectively.

In a context of rising global demand, the sharp acceleration in sales in the third quarter, with 870 MW signed (+129% vs. Q3 2013), enabled Gamesa to attain a total order intake of 2,167 MW at the end of September 2014 (+78%). Gamesa’s order book at the end of September totalled 2,137 MW (+45%), covering the high end of the target sales range for 2014 (2,200-2,400 MWe) and increasing sales visibility in 2015 and 2016.

Growth in profitability and sound finances
Growing activity volume, together with cost optimisation, accelerated the improvement in profitability ratios. EBIT amounted to €123 million in the first nine months of the year, 37% higher than in the same period of 2013, providing an EBIT margin of 6.4%, one percentage point higher than the margin of 5.4% registered in Q3 2013. At constant exchange rates1, the EBIT margin was 7.3% (+2 p.p.). Net profit doubled, to €64 million.

Gamesa also strengthened its balance sheet during the year. In a context of rising activity, the company reduced net financial debt by 60%, to €308 million euro in September, including the impact of the 10% capital increase performed in September. This smaller debt position prepares the company to undertake growth in the future.

Gamesa
www.gamesacorp.com


Filed Under: Financing, News
Tagged With: Gamesa
 

Related Articles Read More >

Equinor launches ECO Liberty service operations vessel for Empire Wind offshore project
Triton Anchor receives U.S. patents for offshore anchor
US government allows Empire Wind offshore project to resume construction
Richardson Electronics to deliver pitch energy modules to TransAlta wind fleets

Podcasts

Wind Spotlight: Looking back at a year of Thrive with ZF Wind Power
See More >

Windpower Engineering & Development Digital Edition Archive

Digital Edition

Explore the full archive of digital issues of Windpower Engineering & Development, presented in a high-quality, user-friendly format. Access current and past editions, clip, share, and download valuable content from the industry’s leading wind power engineering resource.

Windpower Engineering & Development
  • Wind Articles
  • Solar Power World
  • Subscribe to Windpower Engineering
  • About Us/Contact Us

Copyright © 2025 WTWH Media LLC. All Rights Reserved. The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of WTWH Media
Privacy Policy | Advertising

Search Windpower Engineering & Development

  • Home
  • Articles
    • Most recent posts
    • News
    • Featured
  • Resources
    • Digital issues
    • Podcasts
    • Suppliers
    • Webinars
    • Events
  • Videos
  • 2025 Leadership
    • 2024 Winners
    • 2023 Winners
    • 2022 Winners
  • Magazine
  • Advertise
  • Subscribe