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Demand from China and India Boosts Sales, Doubles Profit for Gamesa

Spanish wind turbine manufacturer Gamesa Corp Tecnologica SA has seen its profits double over the last nine months on the strength of increased orders from China and India.

FraukeFeind / Pixabay

“We are going to reach our end-of-the-year targets in a comfortable manner,” said CEO Xabier Etxeberria. “We are maintaining our projections for the end of the year.”

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The company’s nine-month sales are up 22%, to €2.5 billion (US$2.7 billion), while have net profits increased from €64 to €122 million.

“Gamesa’s order book is currently at three gigawatts, up 42% since the first nine months of 2014,” Hirtenstein writes. “Its order intake was four gigawatts, rising a gigawatt in a year.”