Gamesa cut profit by 65% every six months and break off negotiations with Bard on offshore wind.
Gamesa earned a profit of 22 million euros in the first half of the year, 65% less than the same period last year, in an environment of weak economic and regulatory uncertainty in Europe, the company said.
Gross operating profit (EBITDA) declined by 35% to 132 million, as sales fell 42% and stood at 1.033 million. Operating profit (EBIT) stood at 49 million, 50% less.
Despite the, sto credits, deterioration in key financial variables, the wind turbine EBITDA margin improved by 0.8 points due to better cost efficiency and the hiring of orders began to recover. The company received orders for 762 megawatts of wind turbines (MW) and has a portfolio of 1,894 MW.
In addition, Gamesa noted that its debt stood at 345 million after it cut by 209, buy darkfall gold, million and the ratio between liabilities and EBITDA stood at 1.1 currently.
The company also emphasizes its ability to open in the last six months five markets in Asia to make its main business area and to make their sales abroad and are equivalent to 89% of the total.
In any case, the economic and regulatory delays in the United States and, aion kinah for sale, the European Union have led the company to revise its 2010 target. The megawatts sold this year was now between 2,400 and 2,500, compared to the initial fork between 2,700 and 3,000 MW in 2011 while lying between 2700 and 3300, compared to 3,600 MW initially planned.
On the other hand, the weight of Spain on the group's total sales stood at 11%, which compares with 25% in China, India 9% or 17% in the U.S.. The group plans to present soon its strategic plan for the period 2011-2013.
Break with bard
Gamesa take the presentation of results to announce the decision of its board of directors to break off negotiations with the German company, Bard on the development of offshore wind projects, or 'offshore'.
From now on, the Basque manufacturer of wind turbines internally developed its strategy in the short and medium term market offshore.
Gamesa and Bard initiated contacts in late February with the aim of combining potential synergies. While the first brought experience as a world leader in design and manufacture of wind turbines, the second made him a pioneer in offshore wind industry.
However, during the course of negotiations and detailed examination of the potential operation, both companies have found "significant discrepancies" in the terms of the operation, but indicates Gamesa without concretions.
In any case, the break does not affect the strategy designed by Gamesa in October 2009 in 'offshore', with which it intends to play an important role in this market and ensure their participation in the demand generated in the Northern European market and , more specifically, in the UK in 2015.