© Siemens

In the wind and renewable energy business, major offshore orders in the UK (€1.4 billion) and Germany (€0.5 billion) were the main drivers of both revenue and earnings. In June 2016, Siemens and Gamesa Corporación Tecnológica SA (Gamesa) also signed agreements to merge Siemens' wind power business (including services business) with Gamesa; as a result, Siemens will hold 59% of the shares in the combined company; the transaction is subject to the approval of Gamesa shareholders and other customary conditions.