Siemens books fierce growth in profit margin for wind
The Wind Power and Renewables division at German conglomerate Siemens showed limited revenue growth last year but also major growth opportunities in the future, whereas Denmark's Vestas recently took a hit.
Revenue at Siemens in 2016 came to EUR 5,976 million in its wind power and renewables division. Modest growth of EUR 316 million – 5.6 percent – compared to the previous year. On the other hand, earnings grew much more as the conglomerate's wind business landed a net result of EUR 464 million, up from EUR 160 million in 2015. This constitutes gains of 190 percent and a profit margin of 7.8 percent, according to the group's annual report, which runs till September and from which key figures were published this Thursday morning.
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