Siemens Gamesa reported a 12% year-on-year increase in revenue in the first nine months of the 2019 fiscal year, to EUR 7,283 million, driven by record activity in offshore wind.
Siemens Gamesa also saw a 23% rise in revenue year-on-year in the third quarter, amounting to EUR 2,632 million, said to be driven by strong performance in all businesses, again with record activity in the offshore wind sector.
The company said it doubled its net income to EUR 88 million in the first nine months, while in the third quarter it amounted to EUR 21 million.
A record backlog of EUR 25.1 billion was attained, an 8% increase, driven by the highest-ever single-quarter order intake, equaling EUR 4.7 billion, up 42% YoY, and sound order intake in the last twelve months amounting to EUR 12.3 billion, up 2.2% YoY.
The first nine months ended with EBIT pre-PPA and integration and restructuring costs of EUR 475 million, equivalent to an EBIT margin pre-PPA and integration and restructuring costs of 6.5%.
In the third quarter, EBIT pre-PPA and integration and restructuring costs amounted to EUR 159 million, equivalent to an EBIT margin pre-PPA and integration and restructuring costs of 6.1%.
According to Siemens Gamesa, commercial activity remained sound, supported by growth in all business units, especially new offshore markets such as Taiwan.
The Spain-headquartered turbine manufacturer concluded its long-term prospects remain solid with the record backlog, geographical and business diversification and offshore and onshore product portfolios.