- Published: 24 November 2009 24 November 2009
Gamesa Corporación Tecnológica consolidated improvements in its margins as of end third quarter 2009, improving the wind turbine activity’s EBITDA by three-tenths of a point (13.7%) as compared to the same period in 2008..
The management strategy aimed at controlling working capital by synchronizing manufacturing and customers' delivery needs, along with the cost-cutting programs implemented, took the EBIT/sales margin for the wind turbine activity to 7.2%. This was achieved despite the slowdown in activity that impacted the sector throughout the first nine months of the year, particularly in the third quarter –due to delays in implementing Spain’s pre-registry – situating the company's wind turbine sales at € 2.274 billion, 13% below the record figures reached last year. Consequently, the Wind Turbine activity’s gross operating result (EBITDA) stood at € 311 million (-11%) and EBIT at € 164 (-17%), taking the group's net consolidated profit to € 86 million. The comparative year-on-year group figure is still affected by the extraordinary profit generated as a result of the sale of the Solar activity (capital gain on the divestment boosted the figure to € 288 million in 2008).