Gamesa Turns to Profit in 2013

Maritime Activity Reports, Inc.

February 27, 2014

Reuters - Spanish wind turbine maker Gamesa posted on Thursday a 45 million euro ($61.50 million) profit in 2013, after making losses in the same period a year earlier when it booked writedowns for stalling demand and staff layoffs.

Gamesa, whose main European competitor is Denmark's Vestas Wind Systems, said recurring earnings before interest and taxes (EBIT) climbed 175 percent to 129 million euros in 2013 from a year ago.

The company sold 1,953 megawatts of wind turbine capacity in 2013, in line with its target, and said it expected to sell between 2,200 and 2,400 megawatts of capacity this year.

($1 = 0.7317 euros)

(Reporting by Andres Gonzalez; Writing by Tracy Rucinski; Editing by Fiona Ortiz)

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