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News01 February 2018Siemens AGSiemens Korea, Seoul
[Global News] Strong order growth highlights successful first quarter
Siemens Gamesa Renewable Energy‘s revenue and amount of order sharply increased due to portfolio effects formed via merger. Also both Mobility and Digital Factory achieved double-digit growth and drastic increase in the revenue which led to increase in order backlog to €128 billion. In addition, book-to-bill ratio rose to reach 1.13, the highest ratio since booking of large Egypt orders. However, due to ongoing structural market changes, revenue decline continues in Power and Gas. “The first quarter underlines the strength of our company. We take advantage of the growth momentum of the global economic upturn and set benchmarks in industrial digitalization. We clearly understand our opportunities and we know what we have to do”, said Joe Kaeser, President and CEO of Siemens AG.
Financial Highlights:
- Orders rose 14% to €22.5 billion and revenue was up 3% at €19.8 billion, including strong growth contributions from Mobility and Digital Factory and new business particularly resulting from the merger of Siemens’ wind power business with Gamesa Corporation Technology
- Book-to-bill ratio rose to reach 1.13, the highest ratio since booking of large Egypt orders in Q2 FY 2016
- Excluding currency translation and portfolio effects, orders increased 7% and revenue grew 1%
- Industrial business profit at €2.2 billion, down 14% due mainly to a sharp decline in Power and Gas which more than offset excellent performance in the short-cycle businesses and Mobility
- Net income rose 12% to €2.2billion
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Siemens Korea
Poongsan Building
23, Chungjeong-ro
Seodaemun-gu
03737 Seoul
Korea
23, Chungjeong-ro
Seodaemun-gu
03737 Seoul
Korea
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