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. The € 71 million reduction in debt in the last twelve months also represents progress towards the sound balance sheet target. The rising trend in revenues gained strength in the first half of 2014, to €1 ,262 million, 13.1% higher than in 1H13, supported by the increase in revenues in the wind turbine division (+12%) and in O&M services (+18%). In a context of a recovery in global demand, wind turbines sales rose 25% with respect to 1H13, to 1,187MW. The company has signed orders for an additional 801MW in 2Q14 (+31%), bringing the order book to 1,913MW at the end of June, i.e. 24% more year-on-year, ensuring that Gamesa will reach the high end of the sales guidance for 2014 (2,400MW). The US accounted for 20% of revenues, while emerging markets such as India and Latin America continue to play a leading role, accounting for 30% and 36%, respectively. Europe and rest of world (ROW) accounted for 13%, with prospects for an increase in their share in the second half of the year.
