Siemens 1st quarter 2020Cautious start to the new financial year
Siemens' first quarter of 2020 was characterized by a record order backlog and a simultaneous decline in sales and incoming orders - according to statements made at the company's Annual General Meeting on February 5. The figures in detail.
Siemens Gamesa Renewable Energy recorded very strong order growth compared to the same period of the previous year due to a higher volume of major orders - including major orders for offshore wind farms including services in Taiwan, the United Kingdom and the Netherlands. A decline in sales revenue was recorded in the offshore business. The negative quarterly result is due to the onshore business, with strongly negative effects totaling around EUR 150 million in connection with project delays in Northern Europe.