The company reported a net profit of $20.5 million (EUR 18 million) in Q1 2019 from a loss of over $40 million (EUR 35million) over the same period in last fiscal year, while revenue increased by 4% from $2.48 billion (EUR 2.12 billion) to $2.57 billion (EUR 2.26 billion) on a year-on-year basis. The increase in revenue is attributed to the strong project execution in offshore segment and high overall volume of activity planned for the year along with increased service revenue in Q1 2019.
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The revenue from offshore WTG segment recorded an increase of 21% in Q1 2019 to reach $ 913million (EUR 801 million) from $752 million (EUR 643 million) on a year-on-year basis, while service revenue increased by 22% over the same time period. The onshore revenue however declined by 10% from Q1 2018 to Q1 2019, due to lower onshore turbine sales volume resulting from lower pricing and planned back-end loaded project execution.
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– The report is a brief commentary on the Q1 result of Siemens Gamesa Renewable Energy published in January 2019.
– It discusses important performance parameters like net profit, order backlog, order-intake and others in the given time-period and also provides an analysis on how these are likely to impact the near-term performance of the company.
Reasons to buy
– The report gives an insight on the various performance aspects of Siemens Gamesa Renewable Energy in Q1 FY 2019.
– It further discusses about the growth of the company in the near future and various drivers of that growth.
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