Siemens Gamesa: "Restructuring programme" Costs 6000 Jobs

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Siemens Gamesa Renewable Energy today presented its results. Regarding fiscal year 2017(1), revenue increased by 5% to €10,964 million, while underlying EBIT was €774 million (-18%) with an EBIT margin of 7%.

Between April and September, revenues fell 12.3% while underlying EBIT came to €192 million(2) (-63.4%) with an EBIT margin of 3.8%. These results were impacted by specific onshore market conditions, including the temporary suspension of the Indian market, and impairments relating to accounting adjustments to inventories in the US and South Africa. Excluding these impacts, revenues fell just 2% with an EBIT margin of 7.3%2. Excluding also currency effects, revenues were flat. In India the government is planning 3 GW in central auctions up to next March, and... ... More: Official Press Release Siemens Gamesa

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Siemens Gamesa, job cuts, results, revenue