Siemens Gamesa posted revenue of €2.704 billion (+12 percent) and net loss of €314 million between April and June.
Siemens Gamesa’s revenue rose 11 percent to €7.335 billion in the first nine months to June 30 with EBIT margin of 1.1 percent.
According to the Global Wind Power Market Outlook Update from Wood Mackenzie, global installations will resume growth in 2024 and will maintain that trend during the second half of the decade.
Siemens Gamesa signed orders worth €11.864 billion in the last twelve months, and ended Q3 with a backlog worth €32.561 billion (+3 percent), €1.1 billion more than in Q3 20. The backlog as of June 30, 2021, covers 100 percent of the sales guidance of c. €10.2 billion announced for the year.
Siemens Gamesa’s order intake amounted to €1.52 billion in the third quarter, reflecting the volatility of the Offshore market, as orders for both Offshore wind turbines and Service were heavily concentrated in the second quarter of the year.
The Onshore business unit ended the quarter with €840 million (–4 percent) in new orders, representing a volume of 1,352 MW (+13 percent), which reflected the strong impact of the pandemic the previous year.
Onshore order intake in the last twelve months amounted to 8,538 MW, worth €5,538 million. Though commercial activity for the Siemens Gamesa 5.X platform was stepped down in the quarter, new platforms with a capacity of 4 MW or higher accounted for 67 percent of new orders. Siemens Gamesa has signed 2.7 GW for the Siemens Gamesa 5.X platform since its launch.
Offshore order intake in the quarter stood at €146 million, reflecting standard volatile Offshore market dynamics. Offshore order intake in the last twelve months amounted to €3.259 billion. Siemens Gamesa’s competitive positioning in the Offshore market is supported by a backlog of 7.3 GW and a pipeline of 7.8 GW.
The Offshore market’s volatility affected order intake in Service, which achieved orders worth €534 million in the quarter. Service order intake in the last twelve months amounted to €3.068 billion. At the end of June 2021, Service, which is more profitable, accounted for 50 percent of the backlog of €16.238 billion (+7 percent).