|
contents | business | |||||||||
| Gamesa triples net profit in the first nine months of 2008 Spain’s Gamesa Corporación Tecnológica, a renewable energy company specializing in wind generators and solar power, has filed its third quarter results for 2008. Gamesa's turnover grew by 40% compared to the first nine months of 2007 to reach €2.89 billion. The outstanding evolution in margins resulting from implementation of continuous improvement plans situated EBITDA at €367 million, a 36% rise over the EBITDA filed in September 2007. The net profit obtained by contributions from both the Wind Turbine Generator and Wind Farm Units rose by 67% to reach €143 million. The additional contribution made by the gains from the sale of the Solar Unit at the beginning of the year placed Gamesa Corporación Tecnológica's net profit at €288 million over the first nine months of 2008, tripling the figures for 2007. These results contributed to a Return on Capital Employed of 15%, while the new sales conditions and improvements in order fulfillment enabled a reduction of Net Financial Debt to 0.7 times EBITDA. write your comments about the article :: © 2008 Construction News :: home page |