Gamesa doubles net profit (€42 million) and strengthens revenue growth
- Revenues increased by 13%, to €1,262 million, driven by growth in sales of wind turbines and services. The increase was 21% at constant exchange rates.
- The increase in sales ensures that the 2.400 MW sales target for 2014 will be attained.
- At constant exchange rates, the EBIT margin was 7.7%, in line with the 2015 vision.
- The commercial positioning and the move into the offshore market support future growth prospects.
Gamesa ended the first half of 2014 with €42 million in net profit, almost twice the 1H13 figure (€22 million). This increase strengthens the growing trend in profitability, with an EBIT margin of 7.7% at constant exchange rates, and in revenues, which increased by 21% at constant exchange rates.
These results are at the high end of 2014 guidance, as set out in the Business Plan, and improve the future outlook. The €71 million reduction in debt in the last twelve months also represents progress towards the sound balance sheet target.