Speaking before a shareholders meeting, Gamesa Chairman Ignacio Martin told investors that the turbine manufacturer's restructuring plan has restored company financials and laid a path for the future.
‘The 2013 results and the recently released first-quarter 2014 earnings evidence the fact that we are on the right track and that the initiatives we have undertaken are the right ones in an environment in which only the fittest will survive,’ said Martin.
He went on to add, ‘In 2013, we achieved everything we said we would one year ago; we even exceeded expectations. And we have laid the groundwork for a very positive period for our shareholders in the immediate future.’
In addition to the company's organic growth, Martin was also bullish on a recentÂ agreement with Areva to manufacture larger offshore wind turbines.
‘The development of the offshore market requires bigger turbines than today's wind turbine generators, and very few companies will be able to make them,’ asserted Martin. ‘The agreement will position the joint venture as one of the most important players in the offshore industry while generating significant synergies with our onshore business.’
Throughout last year, Gamesa remained competitive, thanks to its technological prowess and the development of new products, Martin added.