* Writedowns worth 584 mln euros
* Staff layoffs, capacity reduction part of plan to 2015
MADRID Feb 12 Spanish wind turbine maker Gamesa
said on Tuesday it made an estimated loss of 640
million euros ($862 million) in 2012 on writedowns for falling
demand, capacity cuts and staff layoffs.
The company brought forward its yearly results and announced
writedowns in net terms of 584 million euros.
In October, Gamesa, the world's No. 4 wind turbine maker,
unveiled a new 2012-2015 strategy to battle overcapacity, rising
costs and stiff competition in a market it once dominated
alongside Denmark's Vestas.
Part of Tuesday's writedowns was due to the costs of the
plan, which had not previously been quantified, and they were
also driven by the need to adapt to changes in demand and market
regulation, Gamesa said.
Gamesa will cut debt and some 845 jobs in its home country
Spain. It has said it will gear sales toward independent energy
producers rather than traditional electricity companies that
previously made up the bulk of its clients.
Demand would fall in 2013 in much of austerity-wracked
Europe, and network restrictions in China and low gas prices in
the United States would also affect the year ahead, the company
said in a presentation.
Wind turbine sales were 2,119 megawatts in 2012, just
slightly above its target of 2,000 megawatts.