BARCLAYS | Gamesa posted a very solid start to the year with sales growth of 30% driving a 6% beat to company-compiled consensus. EBIT beat by 24% as the Group margin reached 11.2%, up 330bps year on year. Free cash flow was negative €107m (by our calculations), a solid improvement versus Q1’15’s -€267m in what is always the weakest quarter of the year.