Siemens Gamesa: commercial activity strong, but shares fall
(CercleFinance.com) - Wind turbine maker Siemens Gamesa said commercial activity in second-quarter 2017/2018 remained "strong," although this did not help to lift the shares this morning in Madrid.
From January to March, Siemens Gamesa signed firm orders worth over 3 billion euros.
After three consecutive quarters of growth in order intake, backlog now stands at 22 billion euros, back to the market-peak levels of March 2017, the company said.
The group also said that financial results in the second quarter were "in line" with the guidance that it provided for fiscal year 2017/2018.
While quarterly sales fell 29% to 2.2 billion euros, the operating margin (EBIT) increased to 8.4% compared with 6.3% achieved in the previous quarter.
However, this was not enough to boost the Madrid-listed shares. The Siemens Gamesa stock is currently down 3.5% on the IBEX 35 index. Note that the share has risen by over 18% year-to-date.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
From January to March, Siemens Gamesa signed firm orders worth over 3 billion euros.
After three consecutive quarters of growth in order intake, backlog now stands at 22 billion euros, back to the market-peak levels of March 2017, the company said.
The group also said that financial results in the second quarter were "in line" with the guidance that it provided for fiscal year 2017/2018.
While quarterly sales fell 29% to 2.2 billion euros, the operating margin (EBIT) increased to 8.4% compared with 6.3% achieved in the previous quarter.
However, this was not enough to boost the Madrid-listed shares. The Siemens Gamesa stock is currently down 3.5% on the IBEX 35 index. Note that the share has risen by over 18% year-to-date.
Copyright (c) 2018 CercleFinance.com. All rights reserved.