Siemens Gamesa: nine-month results 'in line' with guidance
(CercleFinance.com) - This Friday wind farm maker Siemens Gamesa said results for the first nine months of fiscal year 2018 were "in line with guidance".
Revenue fell 25% to 6.5 billion euros in the October 2017-June 2018 period on lower turbine sale volumes and pricing, generating an EBIT margin of 7.4%.
By comparison, Siemens Gamesa is expecting revenue between 9 billion euros and 9.6 billion euros for the full year, and an EBIT margin of 7-8%.
In its statement, Siemens Gamesa said it expects stronger performance in the fourth quarter, driven by higher volumes, cost optimisation and synergies, but investors did not seem fully reassured.
The shares were down 4.7 per cent in Madrid.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
Revenue fell 25% to 6.5 billion euros in the October 2017-June 2018 period on lower turbine sale volumes and pricing, generating an EBIT margin of 7.4%.
By comparison, Siemens Gamesa is expecting revenue between 9 billion euros and 9.6 billion euros for the full year, and an EBIT margin of 7-8%.
In its statement, Siemens Gamesa said it expects stronger performance in the fourth quarter, driven by higher volumes, cost optimisation and synergies, but investors did not seem fully reassured.
The shares were down 4.7 per cent in Madrid.
Copyright (c) 2018 CercleFinance.com. All rights reserved.