in News Departments > FYI
print the content item

Gamesa says it is "back in the black" and ended the first quarter of this year (Q1'13) with 7 million euros in attributable profit. The company adds that its Business Plan 2013-2015, which focuses on measures such as strict control of costs and the launch of new products, enabled it to return to profit.

Group revenues amounted to 491 million euros in the quarter, down 12% from Q1'12. At 446 MWe, sales were in line with the 2013 guidance (1,800-2,000 MWe) but were 13% lower than in Q1'12 due to the slowdown in demand, particularly in the U.S. and China, Gamesa explains.

Gamesa ended the quarter with 22 million euros in consolidated EBIT and a 4.4% EBIT margin (compared with -2.4% in Q1’12). Net financial debt amounted to 729 million euros, 26.9% lower than in Q1’12.

Despite a lower business volume and decline in sales, Gamesa says profitability ratios improved due to enhanced project mix, the contribution by operations and maintenance, higher productivity, and the reduction in fixed costs (-26%).


Trachte Inc._id1770
Latest Top Stories

Senate Passes Tax Extenders Bill With Wind PTC Extension

The legislation, which passed in the U.S. House earlier this month, will renew the critical production tax credit through the end of 2014 - giving developers only about two weeks left to start construction.


Transmission Study Shows Nebraska Could Handle A Lot More Wind Power

A new report released by the Nebraska Power Review Board finds that the state already has enough infrastructure to accommodate at least 2 GW of additional wind generation.


Can Wind Energy And Birds Coexist? Environmental Group Says Yes

The Environmental Defense Fund, a supporter of responsible wind energy development, points out ways to help mitigate impacts of turbines on birds and bats.


Another Study Finds Wind Turbines Do Not Affect Nearby Property Values

Research conducted by the University of Guelph focused on regions in Ontario, and the conclusion echoes that of previous studies.


Too Little, Too Late? U.S. House Approves Wind PTC Extension

The U.S. House of Representatives has passed a tax extenders package that would renew the wind production tax credit (PTC) and about 50 other expired tax breaks through 2014. The wind industry argues the short-term fix is virtually no fix at all.

Hybrid Energy Innovations 2015