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.
Already a subscriber? Log in.
Read the whole article
Get 14 days free access.
No credit card required.
Get full access for you and your coworkers.Start a free company trial today
Your trial for EnergyWatch has now started
With your free trial you get:
Full access to all locked articles on EnergyWatch.
Daily newsletter and ongoing top-newsletters. You can unsubscribe and subscribe to our newsletters anytime.
When your trial period expires
You will not be transferred to a paid subscription.
You will continue to receive our newsletters after the trial period expires. You can unsubscribe at the bottom of each newsletter.