Siemens Gamesa reported net profit, revenue and earnings all up in the first quarter of the 2019 financial year compared with last year, boosted by growth in the company’s offshore and service businesses.
Profit was €18m in the period from October to December, contrasting with a loss of €35m in the quarter last year.
Revenue was up 6% to €2262m, while reported earnings stood at €40m a rise of 13% on last year.
Turbine sales rose 3% to €1904m, with overall volumes rising 7% to 2129MW and offshore volume increasing 76% to 609MW.
The company added that it expects offshore wind to attain 27% annual growth to 2025, rising from 2GW in 2018 to 12GW.
Operations and maintenance revenue grew 25% to €358m, compared with the same period last year.
The company logged orders of €2.5bn in the first quarter of the year, of which €1.8bn was in the onshore market.
Siemens Gamesa’s overall order book stands at €23bn, a rise of 8% year-on-year.