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Siemens Gamesa’s strong commercial performance in Q1 FY2020 reaffirms long-term prospects - 02.2020

Siemens Gamesa Renewable Energy, S.A.
new-energy-jobs.de
Siemens Gamesa Renewable Energy, S.A., Bilbao (E): Siemens Gamesa – Results for the first quarter of FY2020 (October 2019 – December 2019): • The change of model towards clean energy accelerated commercial activity, as strong order intake in Q1 FY 2020 (+82% YoY) boosted the order book to €28,089m • Sales stood at €2,001m and the balance sheet remains sound, with €175m in net cash • Despite good long-term prospects, the complex situation in the industry and extraordinary costs in executing five onshore projects located in Northern Europe had a negative impact on profitability.
“This was not an easy quarter for Siemens Gamesa. The company’s financial performance fell short of the expectations we had when we set our targets for the year. However, this was a one-off impact and we do not expect it to recur in future quarters as we are taking the necessary measures. We have stepped up risk analysis to ensure project execution is on track and we will also strengthen our internal control system to avoid a recurrence,” said Markus Tacke, CEO of Siemens Gamesa.
… read more – umwelttechnik-job.delmv-jobboerseManfred Lorenzen; Soest
Quelle: Siemens Gamesa Renewable Energy, S.A.