The value of Siemens Gamesa鈥檚 order intake halved in the first quarter of its financial year, according to its preliminary results.
It received no turbine or service orders for offshore wind 鈥 which has been its strongest segment in recent years 鈥 between 1 October and 31 December 2020.
The manufacturer鈥檚 Q1 revenue increased 15% to 鈧2.3 billion due to 鈥渟trong offshore growth鈥, but was negatively impacted by currency devaluation, it stated in a disclosure to Spanish market regulator CNMV.
It also recorded Ebit of 鈧121 million (before taking into account PPA and integration and restructuring costs), up from a 鈧136 million loss in the same period one year earlier.
This gave Siemens Gamesa a 5.3% sales margin in Q1 21, having benefited from one-time positive impacts in the quarter, it explained.
The manufacturer expects orders for its offshore wind turbines and services to pick up in the remainder of its fiscal year, which runs from 1 October to 30 September. It added that its lack of offshore orders in the first quarter 鈥渞eflects the volatile nature of offshore market dynamics鈥.
Siemens Gamesa has maintained its outlook for the 2021 financial year: revenues of 鈧10.2-11.2 billion and an Ebit margin before PPA and integration and restructuring costs of 3-5%.
It is due to publish its full earnings release for the first quarter of the 2021 fiscal year on 29 January.
The manufacturer reported a 鈧900 million full-year loss in its last financial year as it was impacted heavily by the coronavirus pandemic.
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