• EBIT pre PPA, restructuring and integration costs [1] in the quarter amounted to €133 million, with a margin [1] at 6.3%
• Strong commercial activity, with 2.8 GW in order intake: Onshore business orders increased by 19% while Offshore practically doubles its order entry. Service order book grows 6%, up to €10,338 million
• Integration of the two companies is advancing well, and decisions have been made about the product portfolio and the launch of new products
Siemens Gamesa Renewable Energy released its results for the first quarter of fiscal 2018 (October-December) [2] today; financial performance was in line with the guidance for the year, and commercial activity was strong in all business units. Between October and December, the company received orders for 2.8 GW of turbines (+29%), driven by both the onshore business (+19%) and the offshore business, where orders practically doubled.
The quarter saw strong progress with the post-merger integration. Decisions about the product portfolio have been made. The first post-merger models of wind turbines have been presented to the market: SG 4.2-145 for onshore and SG 8.0-167 DD for offshore. In fact, the company has already received its first order for the latter model from Vattenfall.
Financial performance between October and December was in line with the guidance for 2018 (revenues €9-9.6 billion, and an EBIT1 margin of 7-8%), which factors in a decline in onshore prices, expected seasonal fluctuations in the business (higher activity in the second half), and the effect of synergies.
