Siemens Gamesa sees 2019 margins squeezed by commodity prices, emerging markets
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Formed by a merger of Spain’s Gamesa with the wind power unit of Siemens, Siemens Gamesa said full-year revenue came in at 9.12 billion euros versus 10.96 billion euros a year ago
MADRID: Wind turbine maker Siemens Gamesa said on Tuesday commodity prices and emerging market volatility would hit profit margins in 2019 as it reported a fall in revenue from last year.
Formed by a merger of Spain’s Gamesa with the wind power unit of Siemens, Siemens Gamesa said full-year revenue came in at 9.12 billion euros ($10.4 billion) versus 10.96 billion euros a year ago.
The company said it expected to return to revenue growth in 2019 but its closely-watched earnings before interest and tax (EBIT) margin to come in between 7 and 8.5 per cent.
Source: reuters
