Gamesa increased revenues by 31.6% in 2016, to € 4,612 million, driven by growth in revenues in the wind turbine area (+37%), as a result of higher activity, which amounted to 4,332 MW, 36.2% more than in 2015. Sales (MW) were evenly distributed worldwide, though led by India (38%) and Latin America (24%). EMEA, the US and Asia-Pacific accounted for 17%, 12% and 9%, respectively.
Order intake amounted to 4,687MW in 2016, of which 1,386MW were signed in the fourth quarter (+33%). The pipeline secures 63% coverage of the sales guidance for 2017 (5,000MW). The G114-2.0 MW-2.5 MW and G126-2.5 MW models gained in importance in orders, from 50% in 2015 to 67% in 2016. Considering also the first contract for the G132-3.465 MW generator, new models accounted for 70% of order intake. Operation and maintenance (O&M) revenues were stable, at € 471 million in 2016. In 2016, Gamesa continued to work on optimising variable expenses, controlling structural costs and implementing quality excellence programmes. As a result, EBIT increased by 48% to € 477 million, i.e. an EBIT margin of 10.4%, while net profit amounted to € 301 million (+77%). For 2017 the company expects around 15% growth in both volume (the commitment is to reach 5,000MW) and operating profit: € 550 million in EBIT and an EBIT margin of 10-11%.
