Siemens Gamesa: shares jump after results meet guidance
(CercleFinance.com) - Siemens Gamesa reported on Tuesday full-year results in line with its guidance, sending its shares up over 9% in Madrid.
The company, which makes turbines for offshore and onshore wind farms, said revenue fell 17% to 9.12 billion euros in the 12 months to September.
This compares with revenue guidance for full-year 2018 of between 9 billion euros and 9.6 billion euros, the group said.
The group's EBIT margin was 7.6%, also reaching the guidance of 7%-8% the company provided earlier this year.
Another piece of good news is that the company said financial performance was "strong" in its fourth quarter, with revenue up 12% at 2.6 billion euros, driven by the recovery of onshore volume and a high level of offshore project execution.
EBIT margin reached 8.2%.
Investors cheered the results. The Madrid-listed shares of Siemens Gamesa jumped by 9.5% at 9.9 euros in early morning trading.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The company, which makes turbines for offshore and onshore wind farms, said revenue fell 17% to 9.12 billion euros in the 12 months to September.
This compares with revenue guidance for full-year 2018 of between 9 billion euros and 9.6 billion euros, the group said.
The group's EBIT margin was 7.6%, also reaching the guidance of 7%-8% the company provided earlier this year.
Another piece of good news is that the company said financial performance was "strong" in its fourth quarter, with revenue up 12% at 2.6 billion euros, driven by the recovery of onshore volume and a high level of offshore project execution.
EBIT margin reached 8.2%.
Investors cheered the results. The Madrid-listed shares of Siemens Gamesa jumped by 9.5% at 9.9 euros in early morning trading.
Copyright (c) 2018 CercleFinance.com. All rights reserved.