Siemens Gamesa kicks off 2018 with a decline

The newly merged wind giant has suffered setbacks across the board in its first quarter of the fiscal year 2018. The order book is stable while price pressure in the industry is particularly impacting the onshore wind turbine division.

Photo: Siemens Gamesa RE

Wind turbine manufacturers have been struggling recently and Siemens Gamesa is no exception.

The company's first quarterly report in 2018 for the first fiscal quarter (October through December) shows that sales declined by all of 23 percent relative to the same period last year down to EUR 2.1 billion. The comparison figure is a calculated key figure, as the two companies had not yet merged by January 2017. The hardest hit on the revenue curve are the sales of wind turbines, which declined 26 percent relative to the comparison figure. The service division only declined one percent.

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