Siemens Gamesa revenue from its turbine business was down 25% to just over €6.5bn in the first nine months of the fiscal year, compared with last year, impacted by lower sales and prices.
Turbine sales totalled almost 6GW, a drop of 17% year-on-year. Onshore sales were down 19% to 4.8GW and offshore fell 8% to just over 1.2GW.
Siemens Gamesa said the results were in line with guidance for the 2018 fiscal year with net profit of €45m.
But the manufacturer was buoyed by orders in the third quarter – April to June – which reached almost €3.2bn up from €1.4bn in the same period last year.
Offshore orders were €1.53bn, increasing from €367m in Q3 2017, while onshore rose to almost €1.2bn from €680m. Orders in the company’s service business reached €588m, up from €350m in 2017.
The company said that in the last 12 months it has signed contracted worth over €12bn and at the end of June it has an order backlog of more than €22.2bn.
Image: Siemens Gamesa
Siemens Gamesa revenue slide
By EBS