- Published: 02 March 2010 02 March 2010
Gamesa’s EBIT margin for the wind turbine manufacture division was 7.2% and a 140 basis points higher than in 2008 (5.8%)..
Gamesa's consolidated revenues in 2009 amounted to € 3.229 billion (-16%) as a result of the weak macroeconomic situation worldwide, which slowed wind developers' plans, and the deceleration in the industry in Spain, as well the company's focus on aligning production with customer orders and deliveries. Impacted by the slowdown, sales amounted to 3,145MW. Consolidated EBIT amounted to € 177 million (-24% with respect to 2008). The wind farm development business (carried as a continuing operation in Gamesa's financial statements in 2009) penalised the consolidated figures due to delays in obtaining approval for wind projects in Spain and to non-recurring factors such as the recovery of 628MW in the US portfolio. Net profit amounted to € 115 million, compared with € 320 million in 2008 (when the company booked € 143 million in extraordinary gains on the sale of the solar business). Excluding extraordinary items, net profit fell by 35%.