Gamesa Reports Rise To Profitability In The First Half Of Year

NA Windpower, Wednesday 24 July 2013 - 00:00:00

Gamesa reports it has obtained EUR 22 million in net income in the first half of this year (1H'13), compared with a loss of EUR 33 million in the same period in 2012.

The company says the results continue a trend to improved profitability that commenced in the first quarter of 2013, when Gamesa announced it was "back in the black" with EUR 7 million in attributable profits.

Gamesa notes Latin America and the Southern Cone remain the main growth driver, accounting for 48% of sales, followed by Europe and Rest of the World (32%) and India (16%). The contribution by the U.S. (4%) and China (1%) declined in 1H’13.

Order intake rebounded in the second quarter (612 MW), tripling the figure in the first quarter of the year. The order book amounted to 1,547 MW at the end of June. Operation and maintenance (O&M) revenues expanded by 18% in 1H’13, to EUR 180 million.

Gamesa says it expects lower seasonal fluctuations in sales volume and a faster pace of deliveries in the remainder of the year, which will enable it to reduce working capital and net financial debt in the second half.





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