Gamesa Doubles Net Profit

Spanish wind energy developer, Gamesa, has doubled net profit to €126 million in the first nine months of 2015.

The result is driven by improvements in revenues (+30.4%) and underlying EBIT (+67.2%), and is in line with the Business Plan 2015-17, according to the company.

Gamesa experienced strong growth in wind turbine revenues (+35%) as activity surged 26% to 2,301 MWe following eight straight quarters of double-digit growth. Operation and maintenance services revenues increased by 7% to €345 million in the period.

India accounted for 28% of MW sold, followed by Latin America (25%) and Europe & RoW (21%). China contributed 15% and the USA, 11%.

Order intake in the first nine months of 2015 amounted to 2,841 MW, bringing the order book at the end of September to 3,034 MW (+42%), assuring 100% of the sales volume target for 2015.