Gamesa ended 2014 with net profit of € 92 million (€ 45 million in 2013). The company ended 2014 with recurring EBIT of € 191 million, which is 48% more than in 2013, providing an EBIT margin of 6.7% vs. 5.5% in 2013.
The company's revenues totalled € 2,846 million in 2014, 22% more than in 2013, supported by growth in Gamesa's two areas of activity: wind turbine generator manufacturing (+22%) and O&M services (+19%). Gamesa increased its activity volume in 2014 to 2,623MW (+34%), driven by the strong contribution from Latin America (34%) and India (26%) and by the recovery in the USA (+15%) and China (+9%). Operation & Maintenance (O&M) revenues (15% of the total) expanded by 19% in 2014, to € 435 million, with an EBIT margin of 12.7%. Gamesa expects sales of 2,800-3,100 MWe in 2015, with revenues of €3,150-3,400 million and an EBIT margin of ≥8%.
