Gamesa Resumes Dividend Payments as Wind-Turbine Shipments Rise

(Bloomberg) — Gamesa Corp. Tecnologica SA, Spain’s biggest
wind-turbine maker, will pay dividends again after profit
doubled last year and shipments increased faster than forecast
thanks to emerging markets.

Net income more than doubled to 92 million euros ($104
million) from 45 million euros a year earlier as revenue rose 22
percent to 2.85 billion euros, the Zamudio, Spain-based company
said in a statement Thursday. It plans to pay 25 percent of net
income as dividends, or 0.082 euro a share.

Gamesa expects sales to rise again this year, supported by
strength in China, India, Brazil and Mexico as well as its
operation and maintenance services. Rising wind installations
globally are benefiting the company, which halted dividends in
2012 as part of a restructuring plan to boost profits.

The company sold 2,623 megawatts of turbines during 2014,
or about a third more than it forecast, and expects to ship
2,800 to 3,100 megawatts this year. This compares to the 2,200
to 2,400 megawatts it forecast for next year under its 2013-15
plan, the targets of which it has achieved early.

To contact the reporter on this story:
Marc Roca in London at
mroca6@bloomberg.net

To contact the editors responsible for this story:
Reed Landberg at
landberg@bloomberg.net
Ana Monteiro, Sarah McGregor

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