Offshore growth lifts Siemens Gamesa revenue for Q1 2021
Siemens Gamesa has announced,
in a regulatory disclosure to the CNMV, its preliminary results for the
first quarter of financial year 2021, following the announcement of the
preliminary results for the same period of its major shareholder, Siemens
Siemens Gamesa stated that its commercial activity reflects the volatile
nature of offshore market dynamics and order intake stood at €2.3bn, compared
to €4.6bn in the same quarter of FY20. Booking of offshore orders and
related service orders is expected in the coming quarters, with no offshore
orders booked in Q1 FY21.
The company’s revenues amounted to €2.3bn (+15%), which was attributed
to strong offshore growth, and negatively impacted by currency devaluation.
EBIT pre-PPA and before integration and restructuring (I&R) costs amounted
to €121m (versus -€136m loss in the first quarter of financial year 2020),
equivalent to a margin of 5.3% of sales in Q1 FY21, benefiting from the
existence of one-time positive impacts in the quarter.
As a result of this preliminary performance, the company confirms the outlook
for FY 2021, announced on November 5th 2020: revenues between €10,200m
and €11,200m and EBIT margin pre PPA and I&R costs between 3% and
Siemens Gamesa will publish its full earnings release for the first quarter
of fiscal year 2021 on 29th January 2021.