Spanish wind energy giant Gamesa, in its last quarter as an independent company, reported stellar performance for the first quarter of 2017, with revenues increasing by 45% and sales totaling nearly 1,500 megawatts.
Gamesa, which for some time has been one of the world’s leading wind turbine manufacturers, officially merged with Siemens’ Wind Power business on April 3, following nearly a year’s worth of negotiating and approval-seeking. From now on, the company will be known as Siemens Gamesa.
However, in its last quarterly report as a standalone company, Gamesa was able to deliver substantial results in the first quarter of 2017, helping its shares to reach their highest level in several months, well on their way to returning to a yearly high of over €22.
The company announced total revenue for the quarter of €1,546 million, up 45% on the first quarter a year ago. Total sales reached 1,490 megawatt-equivalent (MWe), itself up 40.5% on the same quarter a year ago. According to the company’s report, India and the United States both contributed the most to turbine sales growth due to each country’s respective legislation. In all, America accounted for 48% of sales, Asia 40%, and Europe, Africa, and the Middle East as one region accounted for 11%.
Further, firm orders for the first quarter amounted to an impressive 827 MW, bringing the company’s total order intake to 4.5 gigawatts (GW) — that covers 74% of the volume guidance for 2017.