EnergyWatch

Siemens Gamesa eyes relieving price pressure

A larger share of the service market as well as efforts to increase sales of MW faster than competitors will help boost the wind turbine manufacturer's margins. Meanwhile, the firm is aiming for EUR 2 billion in cost reductions.

Siemens Gamesa aims to grow faster than competitors. This is one of the financial targets in the wind turbine manufacturer's new three-year strategy launched Thursday. The goal concerns the top line where growth in both megawatts and euros must be faster than the market's growth as a whole.

However, a major boost must also take place from the current level in the other end of the financial reports. The company thus aims to realize an adjusted operating margin of 8-10 percent in 2020. For the three quarters since the merger was finalized last April, this margin has stood at 4.5 percent. In comparison, industry peer Vestas reported a target for an EBIT margin of at least 10 percent in relation to its annual report – although the Danish manufacturer did not set a timeframe for this goal.

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