News | Energy Efficiency

http://www.newenergyworldnetwork.com/renewable-energy-news/by-technology/wind/gamesas-q1-sales-all-from-outside-home-market.html

Spanish wind turbine manufacturer Gamesa generated all of its sales in the first quarter of the year from customers outside of its domestic market.

It said this was not indicative of an annual trend but the geographic breakdown – which saw it do well in markets such as India and China – reflects the growth of world markets.
In India, its sales expanded eight-fold and accounted for nearly one quarter of the period’s total while orders from China accounted for 13 per cent of total sales.
Its revenues for the first three months of the year reached €585m, an increase of 24 per cent and its EBITDA rose to €76m, an increase of 17 per cent.
Despite subsidy worries in Spain, which have hampered growth in its home market, sales for the group rose by 24 per cent with a backlog for delivery in 2011 amounting to 1,706MW – which covered 58 per cent of its sales guidance for the year.
The company is privately-owned but the positive results cement the company as a leader in its field, with a clear strategy of capitalising on new, growth markets.
It said it continued to investment in innovation with a new manufacturing blade capacity for its G9X 2MW model in China and two new plants in Inner Mongolia and Jilin, which will both become operational later this year.