EnergyWatch

Siemens lost money on wind in the past quarter

The German conglomerate delivered an overall weaker result than expected in this year's fourth quarter on account of weak electricity and gas sales as well as a deficit from Siemens Gamesa.

Siemens booked a lower than expected result in this year's fourth quarter. The German conglomerate did grow dividends by 10 euro cents to EUR 3.7/share for the year, but this is less than projections, which had estimated EUR 3.8/share, according to Bloomberg.

Overall Siemens grew revenue 2 percent to EUR 22.3 billion in the fiscal year's fourth quarter, while the net profit rose almost 10 percent to around EUR 1.3 billion. The final order intake increased from EUR 20.3 billion to EUR 23.7 billion.

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