MADRID (dpa-AFX) - Spanish wind turbine manufacturer Siemens Gamesa Renewable Energy, S.A. (GCTAF.PK) reported Tuesday that its third-quarter net income declined 53 percent from last year to 21 million euros.
EBIT, however, grew 13.3 percent from last year to 56 million euros. EBIT pre-PPA and integration and restructuring costs amounted to 159 million euros, up 1.9 percent. EBIT margin pre-PPA and integration and restructuring costs was 6.1 percent, down 1.3 percentage points.
In the third quarter, revenue increased 23.3 percent to 2.63 billion euros, driven by strong performance in all businesses, with record activity in offshore.
The company recorded the highest-ever quarterly order intake, with orders worth 4.7 billion euros, up 42 percent from last year, driven particularly by strong performance in new offshore markets.
Order backlog was 25.1 billion euros, up 8 percent from the prior year.
Looking ahead, the company noted that its performance is in line with the guidance range for fiscal 2019 of revenues of 10 billion euros to 11 billion euros, and EBIT margin pre-PPA and integration and restructuring costs of 7 percent to 8.5 percent.
The company will update on its competitive business strategy and performance in a Capital Markets Day during the first half of 2020.
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