Siemens Gamesa experiences downturn in the first quarter

The German-Spanish wind turbine producer saw decreased sales in the first quarter. On the other hand, the company can celebrate its highest number of onshore orders to date.

Photo: Siemens Gamesa RE

Despite having decreased revenue relative to the same period last year, Siemens Gamesa can be pleased with its positive cash flow in the second quarter.

Sales fell by 29 percent to EUR 2.242 billion relative to the second quarter of 2017. However, the company came out of the second quarter, which covers the first three months of the year, with EUR 35 million in profits. This is an improvement of precisely EUR 35 million compared to the first quarter. Earnings before interest and taxes, before restructuring and integration expenses, fell to EUR 189 million against EUR 313 million from the same quarter last year.

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