Siemens Gamesa: returns to profit in Q1

(CercleFinance.com) - Siemens Gamesa has reported net income of 18 million euros Q1 2018-19, against a loss of 35 million a year ago, with adjusted operating profit that is up 4% at 138 million euros.


The wind turbine manufacturer increased its revenue by 6% to 2.26 billion euros, led by its offshore business and services. Up 8% to 23 billion euros, its backlog covers 92% of its revenue target for the current financial year.

"The global prospects for the wind industry remain sound, with projected 6% annual growth in installations to 72 GW in 2025. Offshore installations will rise even faster, from 2 GW in 2018 to 12 GW in 2025," the Spanish group said.



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