Gamesa Corporación Tecnológica presented its first quarter results for 2008. The company maintained its steady profitable growth and culminated its focus on wind energy as the main driving force for growth once the sale of its solar unit was finalized.
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Sales rose by 31% to reach € 798 million and net profit amounted to € 34 million, 80% more than in the same period in 2007. EBITDA reached € 97 million, a 39% year-on-year increase when compared to the first quarter of last year. The extraordinary gains obtained from the sale of Gamesa Solar will be reflected in future presentations. The wind turbine generator business unit's sales amounted to € 681 million, 22% more than the sales made in the first three months of 2007. Total MW sold between January and March 2008 grew by 25% when compared to those of the first quarter of 2007. Sixty-seven per cent of the 836MWe sold were sold in international markets and the remaining 33% in Spain. Other European countries accounted for 25%, the United States 23% and China 14%. Gamesa's Wind Farm Promotion, Construction and Sales unit finished the first quarter with a notable 113% increase in turnover when compared to the first three months of 2007. Turnover amounted to € 167 million and equivalent megawatts sold rose by 30%. Spain accounted for 71% of the total of 94MW sold in these three months while the United States accounted for 12%.
