Siemens Gamesa: fiscal year off to solid start

(CercleFinance.com) - Siemens Gamesa has said that it has had a "solid start" to fiscal year 2020/2021, particularly helped by strong performance at its offshore and service businesses, that have led to an increase in revenue.


The Spanish-based maker of wind turbines said revenue increased by 15% year-on-year to almost three billion euros in October-December.

In the three months to 31 December, EBIT before PPA amortization and integration and restructuring costs - a key measure of its financial performance - was 121 million euros, from a loss of 136 million euros in the same period a year ago.

In another positive sign, Siemens Gamesa's order book rose by 7% at 30.1 billion euros.

The Madrid-listed shares were broadly flat (-0.5%) after the report.

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