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Siemens Gamesa Renewable Energy has released its results for FY 2018 (October-September) and the fourth quarter (July-September). In the full year, ended September 30, 2018, revenue amounted to €9,122 million, while EBIT pre-PPA, restructuring and integration costs was €693 million with an EBIT margin at 7.6%.
Net income continued to recover, reaching €70 million in FY 2018, including the impact of integration and restructuring costs (€176 million). The company increased its net cash position to €615 million at September 30. In the fourth quarter (Q4) revenue grew to €2,619 million (+12% YoY), with an EBIT margin (1) at 8.2%. Net income amounted to €25 million. In FY 2018 the company had an order intake of €11,872 million (+9% YoY), boosted mainly by a recovery in onshore order intake (+30%, to €6,682 million). Intense activity in offshore, with good progress in new markets, raised order intake to €2,795 million. Within Service, the company signed contracts worth €2,395 million during FY 2018. Siemens Gamesa achieved an order backlog of €22.8 billion (+10% YoY). The company has set the guidance for FY 2019: revenues of €10-11 billion and EBIT margin of 7-8.5%.
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