It appears Gamesa's Business Plan 2013-2015, which helped the company return to profit last year, is still in full force. The company has announced it ended the first half of this year (1H'14) with EUR 42 million in net profit, almost twice the 1H'13 figure of EUR 22 million.
The company says revenues rose 13.1% year-over-year to EUR 1.262 billion, thanks to a rise in revenues in the wind turbine division (+12%) and in operations and maintenance (O&M) services (+18%). According to Gamesa, wind turbines sales rose 25% during the first half of the year with respect to 1H'13, reaching 1,187 MW.
The company signed orders for an additional 801 MW in the second quarter of this year, bringing the total order book to 1.913 GW at the end of June – a 24% year-over-year increase. Orders for an additional 393 MW signed in the first weeks of July help improve future growth prospects, Gamesa adds.
The U.S. 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. Gamesa says Europe and Rest of World accounted for 13%, with prospects for an increase in their share in the second half of the year.
According to Gamesa, the positive order book performance, strong sales positioning, steady improvement in product costs and greater regulatory visibility in key countries provide the assurance of profitable growth in the short, medium and long term. Furthermore, the company says the entry into the offshore segment via the joint venture with Areva provides Gamesa with an opportunity for complementary growth.