Siemens Gamesa's order intake plunged 60 percent

A "paralyzed market" is the main reason why the first quarter after the merger did not end as the CEO might have hoped for. Revenue as well as earnings and order intake decreased significantly.

Photo: Siemens Gamesa

Siemens Gamesa has already showed a decline in its first report. Wednesday, the merged German-Spanish venture published its first quarterly report as the new entity which was established in April. The report shows a decline across most parameters.

"This is certainly not the quarter we had hoped for," acknowledged CEO Markus Tacke after the report was published.

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