Siemens Gamesa Renewable Energy said it is aiming to achieve revenues of €10-11 billion and EBIT margin of 7-8.5 percent for FY 2019.
The wind turbine supplier reported €9.122 billion revenue in fiscal 2018.
The company has also revealed financial results for FY 2018 (October-September) and the fourth quarter (July-September).
Siemens Gamesa reported revenue of €9.122 billion, while EBIT pre-PPA, restructuring and integration costs was €693 million with an EBIT margin at 7.6 percent in the full year, ended September 30, 2018.
The EBIT margin is impacted by double-digit price decline in onshore wind turbine business partially compensated by synergies and productivity and the strong performance in service, Siemens Gamesa said.
Net income of Siemens Gamesa reached €70 million in FY 2018, including the impact of integration and restructuring costs (€176 million). The company increased its net cash position to €615 million at September 30.
Revenue grew 12 percent to €2.619 billion driven by the recovery of onshore volume and a high level of offshore project execution, with an EBIT margin at 8.2 percent. Net income amounted to €25 million in the fourth quarter.
Siemens Gamesa’s order intake was €11,872 million (+9 percent), boosted mainly by recovery in onshore order intake (+30 percent to €6,682 million) in FY 2018.
Siemens Gamesa achieved a new record backlog of €22.8 billion (+10 percent), providing enhanced visibility for 2019 and beyond and reaching revenue coverage of 80 percent for FY 2019.
Siemens Gamesa also appointed Christoph Wollny as chief operating officer (COO) to better address current and future market dynamics and strengthen cost-cutting efforts. Christoph Wollny joins Siemens Gamesa from his current position as chief procurement officer at Siemens’ Power & Gas division.