Gamesa Beats Forecasts as First Quarter Sales Jump

Spanish wind turbine maker Gamesa said on Thursday its recurrent operating profit rose more than expected in the first quarter to 119 million euros ($135.68 million), up 81 percent from a year earlier, helped by rising sales.

 

Gamesa, which is in the midst of merger talks with Germany's Siemens (SIEMENS.NS), said net profit came in at 72 million euros, also more than expected, and 15 percent higher than in the same period a year ago.

 

Revenues rose 30 percent, to 1.06 billion euros.

 

Analysts polled by Reuters had expected operating profit, or earnings before interest and tax (EBIT) to come in at 95.6 million euros, and they had forecast a profit of 63.8 million euros.


($1 = 0.8770 euros)

(Reporting by Sarah White, Editing by Jesus Aguado)