HUTCHINSON, Kan. — A positive earnings report by Siemens was further boosted by a great earnings report from its newly merged partner, Gamesa.
In its last quarterly report as a standalone company, Gamesa revenue increased by 45 percent in the
first quarter of 2017 to $16.7 billion, compared with the same period last year.
Earnings also soared by 46 percent to $187 million, while net profit increased 39 percent on the first three months of 2016. The figures were boosted by sales increases of 40.5 percent, with almost 1.5GW sold in the three months before the merger with Siemens. Gamesa said most sales growth was in India and the U.S.
The numbers are good news in addition to the latest numbers released by Siemens, which showed strong increases in revenue in its wind energy and renewables sector.
Siemens/Gamesa Renewable Energy will release its first quarterly report as a combined company in July.