Gamesa ended 2015 with € 170 million net profit, 85% more than in 2014 (€92 million), supported by sustained growth in revenues (+23%) and profitability (8.4% underlying EBIT margin).
Gamesa's revenues totalled €3.504 billion in 2015, 23% more than in 2014, as a result of expanding revenues in its two business areas: wind turbine generators (+26%) and O&M services (+8%). Activity rose 21% to 3,180MW, in line with the guidance for the year. The top regions for WTG sales (in MWs) were India (29% of the total) and Latin America (27%). Europe and the Rest of the World accounted for 18%, China for 13% and the US for 11%.
Order intake amounted to 3,883 MW in 2015 (+17%), reflecting Gamesa's strong sales drive, and in line with the high end of the Business Plan target range for 2017. The order book at year-end stood at 3,197 MW (+28%), enabling the company to begin 2016 with 71% of its sales guidance for 2016 (3,800 MWe) already locked in.
Higher revenues, strict control of structural expenses and ongoing optimisation of variable expenses were the main factors driving higher profitability. Underlying EBIT in 2015 amounted to €294 million (+54%), and the underlying EBIT margin was 8.4%. Underlying net profit1 amounted to €175 million. Adwen, a joint venture with Areva in the offshore segment, increased EBIT by € 29 million but reduced net profit by € 5 million. Including this impact, Gamesa obtained € 323 million in EBIT and € 170 million in net profit.