Siemens closes wind chapter on a high note

In the wake of a major merger, Siemens' CFO is delighted that profit margins in the wind division have increased to a two-digit percentage point. Besides a single, large order, the positive report is attributed to an ever-expanding service business.

In its final moments as an independent wind supplier before shifting its wind activities to a new, merged company, Siemens managed to surge ahead. While revenue in the wind division increased by 4 percent to EUR 1,516 million in the company's second quarter, which counts the first three months of the year, earnings increased by 13 percent to EUR 155 million. The result was that the profit margin, which until recently sat well below five percent, increased to a two digit-figure of 10.3 percent.

"Our wind business delivered a convincing performance in the second quarter – that is, prior to the merger with Gamesa – with an exceptionally strong margin," says Ralf P. Thomas, CFO of Siemens AG, of the quarter.

Read the whole article

Get 14 days free access.
No credit card required.

An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from EnergyWatch

GE implements 3D printing for making component molds

Developing the world's largest 3D printer will enable the OEM to make molds for nacelle components of up to 9.5 meters in diameter and weighing more than 60 tonnes by means of additive manufacturing. Initial testing is set to begin in early 2022.

Further reading

Related articles

Trial banner

Latest News

See all jobs