Gamesa doubled its net profit in the first nine months of the year, to €64 million, compared with €31 million in the same period of 2013.
Gamesa's revenues increased by 17% in the first nine months of the year, to €1,942 million, supported by the increase in revenues in wind turbine manufacturing (+17%) and O&M services (+20%). Activity volume maintained the positive performance that commenced in the fourth quarter of 2013, to reach 1,832 MW, 31% more than in the same period of 2013. This improvement is due to the contribution from Latin America (35% of total sales), India (27%) and Europe and RoW (17%). Sales continued to recover in the US and China, which contributed 16% and 5%, respectively. In a context of rising global demand, the sharp acceleration in sales in the third quarter, with 870 MW signed (+129% vs. Q3 2013), enabled Gamesa to attain a total order intake of 2,167 MW at the end of September 2014 (+78%). Gamesa's order book at the end of September totalled 2,137 MW (+45%). Growing activity volume, together with cost optimisation, accelerated the improvement in profitability ratios. EBIT amounted to €123 million in the first nine months of the year, 37% higher than in the same period of 2013, providing an EBIT margin of 6.4%, one percentage point higher than the margin of 5.4% registered in Q3 2013.
