EnergyWatch

Siemens more than doubles its profit in wind division

Despite profit margins, which continue to be lower than at Vestas, the German turbine manufacturer's newfound ability to make money has become entrenched. However, the order intake seems headed in the wrong direction.

Photo: PR: Siemens

Siemens has improved its money-making skills when it comes to wind turbines.

The German conglomerate's first quarter interim report, covering the period Oct. 1 to Dec. 31 2016, shows that the wind turbine division delivered a net result of EUR 111 million on a revenue of EUR 1,384 million. This indicates a profit margin of eight percent, which is almost twice as much as in the same period last year, where the result came to EUR 51 million with a top line at EUR 1,197 million.

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