Windpower Engineering & Development

  • Home
  • Articles
    • Most recent posts
    • News
    • Featured
  • Leadership
    • 2020 Winners
    • 2019 Winners
    • 2018 Winners
  • Resources
    • Digital issues
    • Podcasts
    • Suppliers
    • Wind Farm Map
    • Wind Turbine Selector Tool
    • Wind Power Videos
    • Webinars
    • Wind Power Events
  • Webinars
  • Videos
  • Subscribe
    • Magazine Subscription
    • Enewsletter Subscription
  • About Us

Gamesa doubles net profit to €97 million and revenues increase by 31% in the first half of 2015

By Joshua Smalley | July 30, 2015

Gamesa is involved in the development, construction, and sale of wind forms as well as operation and maintenance services.

Gamesa obtained €97 million in net profit in the first half of 2015, more than double the figure in the same period of 2014, as a result of expanding commercial activity (+30.8%) and improved profitability. These results for the first half are aligned with the goals of profitable growth and a sound balance sheet set out by the Business Plan 2015-2017, which was unveiled in June.

Rising activity

Revenues increased by 30.8% year-on-year in the first half of 2015, to €1,651 million, driven by 36% growth in revenues in the wind turbine area, mainly as a result of higher activity, which amounted to 1,481 MWe, 24.9% more than in the first half of 2014.

This growth is attributable to the company’s sound diversified position: India and Latin America accounted for 45% of total MWe sales, while developed markets such as Europe and the US raised their contribution to 38%. China contributed 17%.

Strong commercial activity is reflected in the sharp growth in order intake in the first half: 1.835 MW (+41.4%), raising the order book to 2,847 MW at the end of June (+49%), covering 97% of the sales volume guidance for 2015 (c. 3,100 MWe) and increasing visibility within the plan horizon.

Operation and maintenance services revenues increased by 5.6% to €223 million in the first half.

Key figures H1 2015 (vs. H1 2014): In euro
2015 Guidance
Revenues: €1,651 million (+30.8%) c.€3,400 million
Sales: 1,481 MWe (+24.9%) c.3,100 MWe
Underlying EBIT1: €136 million (vs. €83 million, +64.4%)
Underlying EBIT margin1: 8.2% (vs. 6.5%, +1.7 p.p.) ≥8%
Underlying net profit pre-Adwen1: €86 million (vs. €42 million)
Net profit: €97 million (vs. €42 million, +130%)

 
Profitability and the balance sheet are improving steadily

In a situation of rising demand, Gamesa continues to enhance profitability and the balance sheet. It reported €136 million in underlying EBIT1 in the first half of 2015 (+64%), equivalent to 8.2% of group revenues.

Net profit more than doubled in the first half of 2015, to €97 million, driven by sales growth, optimisation of variable costs, a positive currency effect and the recognition of Adwen. But for the contribution from the offshore subsidiary, net profit would have been €86 million. The company continues to strengthen its balance sheet and ended the half-year with zero financial debt: a net cash position of €39 million.

Gamesa
www.gamesacorp.com/

Tell Us What You Think! Cancel reply

Related Articles Read More >

Sentry Electrical Group forms renewable energy O&M division
ArcVera receives IEC approval to operate as renewable energy testing laboratory
Offshore Wind Training Institute to open in New York to train 2,500 workers
IEA contracted for construction of 300-MW Illinois wind project

Windpower Engineering & Development Digital Edition

Digital Edition

Browse the most current issue of Windpower Engineering & Development and back issues in an easy to use high quality format. Clip, share and download with the leading wind power engineering magazine today.

Webinars
Windpower Engineering & Development
  • Wind Articles
  • Subscribe to Windpower Engineering
  • Advertising
  • Contact Us/About Us

Copyright © 2021 WTWH Media, LLC. All Rights Reserved. Site Map | Privacy Policy | RSS

Search Windpower Power Engineering & Development

  • Home
  • Articles
    • Most recent posts
    • News
    • Featured
  • Leadership
    • 2020 Winners
    • 2019 Winners
    • 2018 Winners
  • Resources
    • Digital issues
    • Podcasts
    • Suppliers
    • Wind Farm Map
    • Wind Turbine Selector Tool
    • Wind Power Videos
    • Webinars
    • Wind Power Events
  • Webinars
  • Videos
  • Subscribe
    • Magazine Subscription
    • Enewsletter Subscription
  • About Us