Net profit more than doubled for turbine maker Gamesa for the first half of the year ended June 30.
Gamesa says net profit reached EUR 97 million, more than doubling the figure in the same period last year. The company attributes the increase to expanding commercial activity and improved profitability.
Revenues increased nearly 31% to nearly EUR 1.7 billion, driven by 36% growth in revenues in the wind turbine area. Gamesa says the increase is attributable to growth in the Indian and Latin American markets. The company says developed markets, such as Europe and the U.S., offered strong contributions. Sales from China's market contributed 17% to the company's total.
Operation and maintenance service revenues increased nearly 6% to EUR 223 million. The turbine maker's order book rose 41% in the first half to 2.8 GW.
Gamesa says the results are in line with recently released business plans for the 2015-2017 period. The company continues to strengthen its balance sheet and ended the half-year with zero financial debt: a net-cash position of EUR 39 million.
